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CA SuperLotto Wednesday Jackpot 28 Million Click Here to Play!The Mega Millions jackpot is at a record-high 868 million after nobody won Tuesday's drawing.Mega Millions annuity payments are made on an annually-increasing rate schedule, so to see what the payments would be on a year-by-year basis for any state, click the.NY Lotto Wednesday Jackpot 5 Million Click Here to Play!FL Lotto Wednesday Jackpot 2 Million Click Here to Play!
If you go with the annuity, you'd get 30 annual payments totaling about.8 million each.
Just like the lump-sum payment, the annuity plan is subject to state taxes.Lump-sum cash: 119,900,000 - 24 Federal Tax - 1,664,000 - 28,776,000, subtotal 5,269,333 91,124,000 - State Tax: Arizona: 5 State Tax for In-State Residents - 346,667 - 5,995,000, your average net per year: 4,922,666, your net payout: 85,129,000, after 30 payments: 147,679,980.The jurisdiction in which you live may impose additional local taxes, beyond those listed here.A.53 billion Mega Millions ticket was sold in South Carolina.Choosing the annuity option distributes the jackpot over 30 payments, which increase by 5 each year to keep up with the cost of living, skill slot machine name picker Lauren Lyons Cole, a certified financial planner, explained in a previous Business Insider article.Your average net per year: 5,269,333 Your net payout: 91,124,000 After 30 payments: 158,079,990 Annuity Payment Schedule Colorado: 4 State Tax - 277,333 - 4,796,000 Your average net per year: 4,992,000 Your net payout: 86,328,000 After 30 payments: 149,760,000 Annuity Payment Schedule Connecticut:.99 State Tax - 484,640 - 8,381,010 Your average net per year: 4,784,693 Your net payout: 82,742,990 After 30 payments: 143,540,790 Annuity Payment Schedule Delaware:.Important: All annuity amounts shown are the average amounts a jackpot winner would receive. .A single ticket holder in South Carolina won.The higher bond rates are, the less a payment far in the future is deemed to be worth and the less money the lottery needs to give you today to say its given you the up-front-cash-equivalent.6 billion over 30 years.
Read more of our Mega Millions coverage: The Mega Millions jackpot.6 billion.
However, when taxed at the federal rate of 24, those regular payments would decrease.8 million, the site estimated.