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Question about the "Cash" or "Annuity" OptionReply
Almost 35% Federal tax plus whatever state tax is deducted right off the top so there is a huge difference between the cash prize and the annuity. The current PB jackpot of $48 million would net the winner less than $15 million but you have to compare that to the approximate $944,000* after tax yearly payments. I'd still take the cash option and buy myself an annuity with a portion of it, probably 50% At a 7% annual interest rate, you'll get over $500,000 a year and 29 years later, you'l
Jul 10, 2011, 12:03 pm - Stack47 - Jackpot Games Forum

Question about the "Cash" or "Annuity" OptionReply
If you take cash, you generally end up with about 45% of the jackpot, depending on the state you live in. The bigger the jackpot, the less you get. Eight folks split a 380 million dollar jackpot, they each ended up with a bit under 17 million each, do the math. While the annuity pays more, I'd still take the cash option and buy myself an annuity with a portion of it, probably 50%, and quite frankly I'd blow the rest of it. Yeah, I would endow some charities as well, but I'd be having some fun
Jul 6, 2011, 12:30 pm - guesser - Jackpot Games Forum

I have a question about when a group of co-worker hit a jacpot gameReply
Everyone takes the cash payment, then the ones that really want an annuity can go buy one.
Jun 27, 2011, 9:07 pm - time*treat - Lottery Discussion Forum

MUSL trying to save $1 million on Mega Millions?Reply
Estimated jackpots are based on interest they can expect an annuity to pay, maybe the lower estimates are based on lower interest annuities are paying now.
Jun 1, 2011, 11:47 am - RJOh - Jackpot Games Forum

Should lottery winners share with colleagues?Reply
heheh tell em you are going to setup an annuity for them, and if they ever tell a soul or word gets out thru them the money stops rolling in.
Apr 15, 2011, 6:39 am - savagegoose - Lottery News

Part annuity Part cashReply
If tiggs was young and hit he'd take the annuity but tiggs is so old he'd now take the money....and run...
Apr 4, 2011, 2:31 pm - tiggs95 - Lottery Discussion Forum

Part annuity Part cashReply
Unfortunately you would have to choose either the cash option OR the annuity - MM and PB will not let you use both options.
Apr 4, 2011, 6:14 am - djklaugh - Lottery Discussion Forum

Senior Citizens and The LotteryReply
In the absence of a Beneficiary Form the remainer of the Annuity should go to their Estate.
Mar 1, 2011, 10:10 am - Raven62 - Lottery Discussion Forum

Sucessfully staying quiet?Reply
The proceeds from the Annuity should have been declared as Income or didn't they supply a 1099-G?
Feb 16, 2011, 7:42 am - Raven62 - Lottery Discussion Forum

Annuity OptionReply
Funny, I was just reading about this on Tx Lottery website the other day. Reading the Commissioner's meeting minutes, they are implementing a rule change regarding the cash option. Right now, if a person buys a QP at a self service terminal, unless cash option is specified, it defaults to the annuity option. At some point in the future, (soon, not sure when) the default will be the cash option, because they realize that the majority of winners choose the cash option. In Texas, a person must choo
Feb 10, 2011, 10:04 pm - rcbbuckeye - Lottery Discussion Forum