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Posted: 8/28/2004 2:07:53 PM EDT
It's up to like 100 million right now! How much do they take out in taxes and where does it go?
Link Posted: 8/28/2004 2:15:31 PM EDT
The state take no taxes.

The Feds take around 25% before you even see the check.

The dollar amount is if you take payments over 25 years. If you take it up front as a lump sum it's about half that (before the Feds get their cut).
Link Posted: 8/28/2004 3:12:23 PM EDT
Both Feds and the State takes their cut (taxes) before you see a dime. Someone won $100M some time ago and ended up with maybe $40M or less. I originally thought it was $25M.

Ohhhh yeh, I'm winning tonight
Link Posted: 8/28/2004 3:15:13 PM EDT
the california lottery.................if you win you can finally leave!!!!!
Link Posted: 8/28/2004 3:27:45 PM EDT

Originally Posted By TexRdnec:
the california lottery.................if you win you can finally leave!!!!!



That's my plan, just picked up some tickets, I probably should have gotten more than $5 worth though.
Link Posted: 8/28/2004 4:50:56 PM EDT
I bought my usual one quick pick.
Link Posted: 8/28/2004 7:40:30 PM EDT
dang.... didn't win a damn thing....
Link Posted: 8/28/2004 8:42:15 PM EDT

Originally Posted By Mall-Ninja:
dang.... didn't win a damn thing....



I'm not going to check until tomorrow, maybe I'll have some nice dreams tonight and get my 5 bucks worth.
Link Posted: 8/29/2004 4:36:55 AM EDT

Originally Posted By Chaingun:
Both Feds and the State takes their cut (taxes) before you see a dime. Someone won $100M some time ago and ended up with maybe $40M or less. I originally thought it was $25M.

Ohhhh yeh, I'm winning tonight



California does not tax California lottery winnings.
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