Lottery Rolls Over AGAIN! – Why Its Better To Win In Wyoming

Nobody won the big Powerball lottery - AGAIN! That brings the new estimated winnings up to $ 1.7 BILLION! The next ticket will be drawn on Christmas Eve. Imagine winning that jackpot as your Christmas present.

That means you'll finally be able to buy that house in Jackson Hole, Wyoming.

BUT HOLD ON! How much of that $1.7 billion do you really get? Remember, government is unfail and greedy.

A winner of a $1.7 billion lottery jackpot who chooses the popular lump-sum cash option would receive approximately $485 million to $557 million after federal and state taxes, depending on their state of residence. Some states have a state income tax; some, like Wyoming, do not.

The advertised $1.7 billion amount refers to an annuity option paid over 30 years. Most winners, however, choose the immediate cash payout.

Most lottery winners choose a lump-sum cash payout primarily because it offers immediate control and flexibility over the money, and the potential for greater returns through strategic investing. The other option, an annuity, provides payments over 20 to 30 years and generally results in a larger total sum over time.

Residents of states like Florida, Nevada, South Dakota, Tennessee, Texas, Washington, and Wyoming do not pay state tax on lottery winnings, maximizing their take-home prize.

The rich pay more.

Many people make the argument that taking $557 million is just fine with them, but why does the federal government deserve such a large chunk of your winnings? The feds argue that it is because the winnings place the recipient in the highest federal tax bracket, the full federal tax liability reaches 37%. Now you know how much the rich actually pay in taxes compared to the rest of us.

If you buy a ticket, I wish you bad luck. I'm buying one, and I want it all for myself.