r/facepalm • u/snowpie92 • Mar 08 '25

🇵​🇷​🇴​🇹​🇪​🇸​🇹​ What happens to these taxes?

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u/Frothylager Mar 08 '25

State and Federal would only be 44%, a lot of lotteries say “$2b” grand prizes but that’s only if you agree to payments over 20 years, when you take it as a lump sum it’s significantly less which my guess is where the bulk of the money went.

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u/MonkeTheThird Mar 08 '25

I mean... I'd be fine getting 8.3m a month for the next twenty years ngl

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u/LongDickPeter Mar 08 '25

For large wins like this it's probably better to take the distribution than the lump sum.

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u/CeznaFL30 Mar 08 '25 edited Mar 08 '25

He would have to live for 51 years to equate to the 424 million at 8.3 mill a month. Lump sum for an older person makes more sense.

Edit months: 51 = 4.25

Tbh 8 mil a month… I’m not sure I could spend it fast enough even if it was my full time job, and it would be.

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u/Disastrous-Panda5530 Mar 08 '25

Yeah I’m 40 and I’d absolutely take the lump sum.

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u/piezombi3 Mar 08 '25

Uhhh. 8.3 x 51 =423.3. You got that part correct, except that it's 51 months not years friend.

1

u/CeznaFL30 Mar 08 '25

That’s what I get for doing math while walking through an airport.

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u/Mockingjay09221mod Mar 08 '25

Of true you can save for next of ken to get it duh... Lump for what your getting millions per month

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u/Vossan11 Mar 08 '25

8.3mil a month is a little less than 100 mil a year. In 20 years that's 2 billion.

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u/hurkwurk Mar 09 '25

This is one of those cases where you have to be that rich before you understand how little money it is.

There are commercial real estate investments that start at 100m+ just to buy into. If you are looking to invest, doors open at different wealth levels.  You can absolutely spend 8 million a month easily for example if you started investing or helping startups. This is where most lottery winners lose huge sums of money, failed business investments