Am I the only one who mentioned miswriting of the numbers? Like, if you say one billion five hundred millions and thirty seven dollars, ots not 1,500,360,000 oh my god, how can people be so uneducated ?
The amount of tax lottery winners pay in the US is crazy! In the UK winners pay nothing! The lottery is deemed as gambling in the UK which attracts 0% tax!
If you win a huge jackpot; 1) before claiming your prize speak with an attorney 2)speak to a financial advisor 3) do not tell anyone 4) do not reveal yourself (remain anonymous) 5) keep the exact same inner circle with the exception of financial advisors, banker(s), investments
The point of investing in a hotel is to make money, if you hit the lottery, you don't need to make anymore money, just put the money in something super safe. Hotels and restaurants are some of the riskiest things to invest in.
Yeah without even giving a chance to make investments like current mega-rich use to avoid taxes all together. Just swipe it right out from under folks immediately.
Do you know one thing I cannot get my head around, it's the fact the Government takes so much tax on the winnings. What I mean is people have probably already paid taxes on their salaries which are used to buy lottery tickets. All it seems is a take take culture in The States with the lottery. Seems so unjustified. Here in the UK, the Government doesn't take any tax on the winnings of the lottery or any gambling.
Almost same in sweden. Gambling were there is not any strategy behind and just pure luck. Your don't pay any taxes in. Strategy gambling where you can "beat the system" /betting on games/matches by being knowledgeable in for an example horse races, football matches , you need to pay taxes. 💫 But lottery, scratchers tax free 😊
@@royal_gambit_e4 we have indeed a tax free lottery in the UK, Google search The UK National Lottery, everything is there to explain our lottery system 👍
This is a true but sad story. The winning lottery drawing on July 29, 2022, my dad and I played for that game. After the winning numbers were drawn, he knocked on my door and I thought that this could be it: we're winners. No, he knocked on my bedroom door to tell me he was having a heart attack and needed to go to the hospital -- he passed away 8 days later. I thought that night was going to be a life-changer in a good way, but it was life-changing in the worst way.
Theres one thing I think keeps most people from winning. Most of us have it in our minds we'll never win but fail to realize somebody will eventually and we all have just as much of a chance as anyone else
That’s actually a pretty smart and genius way to put it. I am doing tonight’s Oklahoma $735,000,000 lottery and will be just as lucky as whoever else is walking in to buy a Dr. pepper and 3 tickets hoping so. lol. Just imagining the mere and avid feeling of excitement mixed with anxiousness/paranoia seconds after knowing you won… is what I look forward to and want more than anything, just the sigh of relief knowing EVERYTHING changes right this moment, and I went from irrelevant to being so wealthy that anyone I will have power over and will be happy to know me lol. I would help so many people tho.
I see so many people posting here who don't understand how the lottery prize amount works. When the lottery says the jackpot is 1,000,000,000 (1 billion) that is the estimated annuitized dollar amount. Meaning if you take the announced prize amount, you will get 1 billion paid out to you over 30 years. The lottery uses the prize money to purchase an annuity which earns interest over that 30 years. That prize money is therefore less than the announced jackpot. This dollar amount is the lump sum payout that a winner has the option to take instead of the annuity. It is the dollar amount the lottery would have invested for you to buy the annuity. And the difference between the announced prize and the lump sum payout amount is dependent upon prevailing bank interest rates. Right now (7/2023) the lump sum payout is just a bit over 50% of the announced jackpot for both Powerball and Mega Millions. When you are taxed by the US government, you will be taxed at 37% on the amount that is paid to you. Whether it is the annual annuity or the lump sum. If you take the lump sum, you pay that only once. If you take the annuity, you will pay taxes every year for 30 years. If you take the lump sum and invest it, you will pay taxes in subsequent years (capital gains, dividends paid or interest) which are taxed at much lower rates than normal income. This is why most financial advisors will recommend you take the lump sum amount. So using the numbers above, a $1B jackpot taken as a lump sum will hand you a check for $500M less the 20% they withhold up front. so just about $400M goes into your bank account. You will still owe about another $85M when you file taxes for that year. That leaves an after tax net of $315M to do with as you wish. Uncle Sam is NOT taking 70%.
Im not going to cry about getting ONLY $315 MILLION dollars . Let them keep whatever, I'll make out just fine with the $315M , and dont forget, that money is gonna be making a lot of interest too .
The problem with some of them is that when they win the lottery , they think that means that they'll automatically fit in with the country club set, and it doesn't quite work like that.
What makes you think lottery winners are joining country clubs? I'd buy 10 or 20 thousand acres to get away from people. It would take 15 minuets just for me to get from my house to a public road, if I wasn't using the helicopter.
8:48 the only winner that giggles for hours..being wealthy means having more time to enjoy the things you love together with your loved ones.. that's why many of us wish to win the lottery jackpot! Don't need to work for money, our life is taken care of, what a beautiful life!😊😊✨✨🤞🤞
Not really. First of all the billboard advertised jackpot is the projected annualty payout. It’s basically the actual lump sum invested in govt bonds for 26 years, and this year it’s boosted due to the interest rate hikes the federal reserve made over the last year. 2) the federal and state taxes taken out are the same taxes done for any sweepstakes, which is counted as income. In America, our progressive tax system hits higher income more. Those taxes were always due to the govt. 3) The people winning millions and hundreds of millions still get life changing money after taxes. Nobody is robbed of their new lifestyle because of taxes.
So basically if you win a large amount or any amount really and you take the lump sum automatically you get just over half and then there is 37% Federal tax on the rest plus state tax if you live in certain states
Im rich because God bless me with food and a roof over my head i don't need all that money if God wants me to win one day Im going to help others in need buy me a 2 bedroom house for me and my wife and a drime truck that I always wanted amen
You'll never win big. You're telling the Universe/God, that you're happy being poor/just scraping the barrel, so, no big money for you. Take a lesson from Cynthia Stafford. Google her
Mavis cashed hers in fast because the state of Massachusetts originally said the winner was in Cambridge mass but she was the winner. The winner in Cambridge won one million. So she went to lottery headquarters to straighten it out. Then was outed by the state
The government taxes the lottery fund before it reaches the winner. The lottery prize represents 40% of the total receipts. For a $1m prize the govt. received $1.5m out of a total fund of $2.5m.
Thank God we here in Germany don't have to pay Taxes on Lottery Winnings! Yeah, 175Mil from 533Mil is still life-changing Money. But over 300 MILLION just for Taxes?! Hell no! I repeat: I'm sooo glad that we here in Germany don't have to pay Taxes on Lottery Winnings and can expect a large Sum Tax-free on our Bank Account! We only have to pay Taxes if we purchase Things like Properties or other Things with it. From 533 to 175...wow, that's tough. 😒
@@TomSir79 also the point of lottery is to benefit the state and the government, they use the money to fund building roads,schools , etc, it goes into bonds etc, so taxing it at that level is very good. you play a 2 dollar ticket you should be happy if you get the 2 back , let alone one or 500 million lol.
It’s not 300 million in taxes. The 533million is the annuity amount, not the amount the lottery commission has in hand rn. You would get paid that full amount (minus taxes) if you chose the annuity and they would pay you over the course of 30 years. The amount he actually won by taking the lump some is probably around 250-266 million. Still a lot paid in taxes but not not 70%
Where I am from (Singapore) we get to keep ALL the winnings from any types of lotteries. No Tax at all. Winnings received are not taxable as they are windfalls and not considered as an income. We do not need to declare the winnings in our Income Tax Return.
As a lottery is a means to get extra money for councils and governments, it's beyond mean to then tax the winner! However, as the US taxes everyone born there or who is a citizen, even if they've lived abroad for years (and, I believe, are one of only 3 countries in the world to do so) it's not really surprising. Apparently, giving up US citizenship entails a long and aggressive interview with officials. Greedy, I call it.
The wisest thought that is in everyone's minds today is to invest in different income flows that do not depend on the government, especially with the current economic crisis around the world. This is still a good time to invest in gold, silver and digital currencies (BTC, ETH.... stock,silver and gold)
@johnwilson3645As a newbie you’ll need to invest in a company that is working towards sustainability, like that of expert Valerie Collier,and her abilities in handling investments are top notch
After I got upto 900k trading with expert Valerie Jo collier I bought a new House and I'm now able to send my kids to a better school in the states When someone is straight forward with what he or she is doing people will always speak up for them.
The common error they make, is to show their faces on TV. Now the criminals in the neighborhood or state knows about it. Worse... your family knows now.
As to the old Florida woman who won, and sued her son, I recall the news story to where a young single mother let the old lady go ahead of her, in line to buy tickets. This was at a grocery store they call Publix. The old lady didn't give a dime to that single mom who was so considerate and let that old lady buy what would have been her winning ticket.
Every time I hear about that 2 billion dollar win more of the story is revealed. I already knew there was more to the story.. and now I hear his landlord saw the ticket? And he admitted that he did see the ticket? Of course Castro wants the suit thrown out..
There is no guarantee that the random number generator that creates the Quick Pick numbers for a ticket would be the same for the single mother had she gone first. The RNG is based on the computer's internal clock. Single mom might have been quicker or slower to buy her tickets. She might have also bought more or fewer tickets.
what the other commenter said is correct. the few seconds delay of letting the old lady go in front of her is what allowed the winning ticket to exist. if she had gone first without the delay, there’s no guarantee the machine would’ve printed her tickets at the same exact time that the old lady got hers printed
If I ever win I will only release my name, which is required by my state, I would never do any interview, then leave the country for a few months after I got my money.
Yup. File as an LLC if state does not have privacy law like Kansas. No freaking way I'm going to advertise I hit the jackpot. You ain't going to know me or see me anywhere.
We don't pay in the Uk taxes on the winnings. Invest wisely in the second year you do. Don't understand the USA. You spend money on a ticket that is already taxed.
The government should NOT be able to take over half your winnings, nor should it be greater than 25%. Not to mention you get taxed buying the ticket in the first place.
I’d like to win an amount just enough to be considered upper class, perhaps 30 to 50 million.that’s enough for you and your family to live a financially worry-free life if you’ll invest/manage it properly.
i would work out a deal where i would pay for every bit of DNA from serious crimes that isnt been tested bcoz of a lack of funds,to be tested, anyone can donate to charity and worry about how much good it real did, but this would save 100s of lives while punishing the very worst while making me feel awesome
that's pretty messed up that even at 2.04B the winner couldn't clear 1B in lump sum...Im sure with even some safe investments they'll do it on their own, but that's still messed up
Too much money usually comes without blessings be content and happy remember life is short everyday millionaires also die money can’t buy you extra life etc. our goal should be good deeds so we enter paradise forever
untrue. The CA lottery checks video of the purchase of winning tickets. the ask the person claiming the ticket about the purchase. They only pay when the confirm this information. So, if you buy a ticket turn, look up, hold you ticket and smile for the camera.
Learn How To EASILY Own Your Dream Cars 👉 bit.ly/Exotic-Car-Hacks
Bro, you said Likoma Island doesn't exist??? 😂😂
It's an island in East Africa
gonna have to update this list now. 1.58B out of Florida.
Am I the only one who mentioned miswriting of the numbers? Like, if you say one billion five hundred millions and thirty seven dollars, ots not 1,500,360,000 oh my god, how can people be so uneducated ?
I don't need all that money at least $5 million dollars to $10 million dollars be enough for me
Not cheating? Yah right
Congratulations to the US government for being the largest lottery winner’s ever!
Biggest losers are the people of this country.
Yeah taxed remember
Basically 😆
US government is not involved. It's the states but yea the fed does collect the taxes but doesn't profit directly like the states do.
and they still can't pay off their (now ours) debts
Damn from $550 million to $150 m after taxes !
Insane
its not all taxes. taking the lump sum takes 50% and then the taxes are taken
@@mib20000Whatever! The Government organizes a lottery and the Government robs lottery winners.
Can't be right.
Crap I'll be happy with 1 million
@@dayancarrillo9450 No, you wouldn't be.
The biggest guaranteed winner is the IRS
I heard on the news awhile back that the US government was going to hire eighty thousand new IRS agents and they were going to be armed with guns.
All the time😢
Lol facts
its practically FREE money, so its all good.
Sure are and you don't mess with them.
The amount of tax lottery winners pay in the US is crazy! In the UK winners pay nothing! The lottery is deemed as gambling in the UK which attracts 0% tax!
We pay taxes on gambling winnings also, but you guys pay a hell of a lot more income tax.
@@bigredc222 But they don't pay for health insurance.
If your foreign and win the jackpot in the US, your taxes paid out are lower. I about sh!t when I checked into it and found out it was the truth!
@@HAL_NINER_TRIPLE_ZERO Yes we do, it's included in all our taxes. Insurance doesn't just fall out of the sky. The middle class bears the brunt.
@Berley_1234 Lol...its free money. 100 million for the price of a ticket is a windfall
If you win a huge jackpot; 1) before claiming your prize speak with an attorney 2)speak to a financial advisor 3) do not tell anyone 4) do not reveal yourself (remain anonymous) 5) keep the exact same inner circle with the exception of financial advisors, banker(s), investments
Watch again. Anonymity is not necessarily an option.
What does an attorney do
@@malachibrown3270nothing
@@malachibrown3270Represent you so you can remain anonymous
Move to an alternative address under an alias. Get security.
The point of investing in a hotel is to make money, if you hit the lottery, you don't need to make anymore money, just put the money in something super safe.
Hotels and restaurants are some of the riskiest things to invest in.
Monopoly lied to me
I would in gold because it keeps going up in price. Gold coins and gold bars.
We invested in properties...lands, apartments...after about twenty five years later we made ×15 times to that of the principal amount invested.
And bars/clubs. I'd rather buy a liquor store.
I wasn't able to get to the store yesterday to buy maga millions tickets, so someone else won my 1.13 billion.
The US tax rate on jackpot winnings is completely unjustified. Thats between 65-70% tax is should be declared a crime against humanity
Nope
37% to Uncle Sam.
The lump sum payout is much less than the advertised jackpot.
All tax rates are unjustified. Especially our payroll
😮🎉
Yeah without even giving a chance to make investments like current mega-rich use to avoid taxes all together. Just swipe it right out from under folks immediately.
Imagine if there was a Powerball/Mega Millions in 1962. Top tax rate was 91 percent! Chew on that for a bit.
"He'd only have a measley $25,000,000 left." Yep, the stuff of nightmares
Gave me shivers
Yet a lot more than what he had
Hes poor now?
In America you get taxed for stepping out of your house for a walk.
R U SURE????
🤣😂🤣😂
IKR
It certainly feels that way. Some time there will probably be a fresh air oxygen tax.
😂😂😂 more than a robbery and like a walking money
Do you know one thing I cannot get my head around, it's the fact the Government takes so much tax on the winnings. What I mean is people have probably already paid taxes on their salaries which are used to buy lottery tickets. All it seems is a take take culture in The States with the lottery. Seems so unjustified. Here in the UK, the Government doesn't take any tax on the winnings of the lottery or any gambling.
Almost same in sweden. Gambling were there is not any strategy behind and just pure luck. Your don't pay any taxes in. Strategy gambling where you can "beat the system" /betting on games/matches by being knowledgeable in for an example horse races, football matches , you need to pay taxes. 💫 But lottery, scratchers tax free 😊
I think nobody would believe that. There can not be a tax free lottery anywhere on this world. Usually it's 50% from the prize.
@@royal_gambit_e4 we have indeed a tax free lottery in the UK, Google search The UK National Lottery, everything is there to explain our lottery system 👍
@@zaar6721vad snackar du om bror??? No he’s lying. There is no tax on any winnings in Sweden.
@@royal_gambit_e4 Nonsense: Check your facts first.
This is a true but sad story. The winning lottery drawing on July 29, 2022, my dad and I played for that game. After the winning numbers were drawn, he knocked on my door and I thought that this could be it: we're winners. No, he knocked on my bedroom door to tell me he was having a heart attack and needed to go to the hospital -- he passed away 8 days later. I thought that night was going to be a life-changer in a good way, but it was life-changing in the worst way.
I’m sorry.
Wow .. my condolences .
So sorry for your loss
Sorry God bless 🙏🏾
That's tragic sorry reality hit hard sometimes
Theres one thing I think keeps most people from winning. Most of us have it in our minds we'll never win but fail to realize somebody will eventually and we all have just as much of a chance as anyone else
MAYBE 😐
No. We really don't.
That’s actually a pretty smart and genius way to put it. I am doing tonight’s Oklahoma $735,000,000 lottery and will be just as lucky as whoever else is walking in to buy a Dr. pepper and 3 tickets hoping so. lol. Just imagining the mere and avid feeling of excitement mixed with anxiousness/paranoia seconds after knowing you won… is what I look forward to and want more than anything, just the sigh of relief knowing EVERYTHING changes right this moment, and I went from irrelevant to being so wealthy that anyone I will have power over and will be happy to know me lol. I would help so many people tho.
Each play has a one and 292 million or one and 305 million chance of winning Powerball/mega millions respectively
@@chazdavis1644same odds as anyone else with one lottery ticket.
From 533million to 175 million. Tell me that's not highway robbery?
The IRS are vampires ..😂
Frfr the IRS are leeches from the depths of hell..
Yes the hell it is we really need to say something about this In Jesus holy name
They robbing us without a gun
That's what the rich pay.
I see so many people posting here who don't understand how the lottery prize amount works.
When the lottery says the jackpot is 1,000,000,000 (1 billion) that is the estimated annuitized dollar amount.
Meaning if you take the announced prize amount, you will get 1 billion paid out to you over 30 years.
The lottery uses the prize money to purchase an annuity which earns interest over that 30 years.
That prize money is therefore less than the announced jackpot.
This dollar amount is the lump sum payout that a winner has the option to take instead of the annuity.
It is the dollar amount the lottery would have invested for you to buy the annuity.
And the difference between the announced prize and the lump sum payout amount is dependent upon prevailing bank interest rates.
Right now (7/2023) the lump sum payout is just a bit over 50% of the announced jackpot for both Powerball and Mega Millions.
When you are taxed by the US government, you will be taxed at 37% on the amount that is paid to you. Whether it is the annual annuity or the lump sum.
If you take the lump sum, you pay that only once.
If you take the annuity, you will pay taxes every year for 30 years.
If you take the lump sum and invest it, you will pay taxes in subsequent years (capital gains, dividends paid or interest) which are taxed at much lower rates than normal income.
This is why most financial advisors will recommend you take the lump sum amount.
So using the numbers above, a $1B jackpot taken as a lump sum will hand you a check for $500M less the 20% they withhold up front. so just about $400M goes into your bank account.
You will still owe about another $85M when you file taxes for that year. That leaves an after tax net of $315M to do with as you wish.
Uncle Sam is NOT taking 70%.
This not for all states but yes your correct, Thank you fot sharing the info we appreciate you.✊🏾☮!!!
Anyway you lose 70%
@brunoutechkaheeros1182 Reading comprehension is not your strong suit, is it?
Im not going to cry about getting ONLY $315 MILLION dollars . Let them keep whatever, I'll make out just fine with the $315M , and dont forget, that money is gonna be making a lot of interest too .
I’m confused. So who/where does the 60% go to?
I’m winning the $1.25 billion dollar mega million jackpot this coming Friday! I’m helping out animals and the poor with my winnings.
Yes you will win.
Im poor, help ME!
When I win, I'm using it to change the laws.
Did you win?
Did you manifest that…?
It's my turn to win the lottery millons AMEN.❤😊
Good luck hopefully I can eventually went to
Give me 2 million
Anonymity for winners should be the rule in all states.
I won the powerball jackpot!!! I am so grateful ❤
Congratulations!
I'm with you let's manifest it into reality!
Believe it to receive it
Bless you.
don't tell anyone your name.
I won $4 and stayed anonymous lol.
🤣
😂😂😂😂😂😂
Hope you spent it well
😂
That’s way too much taxes! Good thing in the U.K., you get ALL the money. NO taxes, and you have a choice of staying anonymous.
Yeah, but U.K lotteries don't com close to the size of U.S lottery.
@@jweems47well if u remove all the like 70-80% of ur win that the US take in different tax forms its not far off.
@@100RawBalance If it's under 500 million, I would agree. But when it's up to 700, 800 hundred million or into the Billions, not a chance.
@@100RawBalance I agree
It's the same in Germany too. You'll get ALL theMoney AND can decide to stay anonymous. Which i would do if i ever won the Lottery.
I wish them all long life health wealth and prosperity.
The problem with some of them is that when they win the lottery , they think that means that they'll automatically fit in with the country club set, and it doesn't quite work like that.
Last place I'd be going is the country club 😂
What makes you think lottery winners are joining country clubs? I'd buy 10 or 20 thousand acres to get away from people. It would take 15 minuets just for me to get from my house to a public road, if I wasn't using the helicopter.
Old money don’t like new money and they seclude new money. But if you won that type of money, do you seriously need old monies approval? Hell no
I'd pay to not fit in with the country club set
@@ChurchMouse22FACTS Tf I care about being in a county club 😂😂😂
The tax is PHUCKIN wild 😂😂😂😂
8:48 the only winner that giggles for hours..being wealthy means having more time to enjoy the things you love together with your loved ones.. that's why many of us wish to win the lottery jackpot! Don't need to work for money, our life is taken care of, what a beautiful life!😊😊✨✨🤞🤞
It is absolutely absurd that you get less than 35% of the actual jackpot with a lumpsum payout.
Just imagine that. That's stealing from winners
It’s still life changing money! Anyone who wins should be grateful!!!
Also you can get more but it would take 30 years…
That money isn't yours until it hits your bank account
Not really.
First of all the billboard advertised jackpot is the projected annualty payout. It’s basically the actual lump sum invested in govt bonds for 26 years, and this year it’s boosted due to the interest rate hikes the federal reserve made over the last year.
2) the federal and state taxes taken out are the same taxes done for any sweepstakes, which is counted as income. In America, our progressive tax system hits higher income more. Those taxes were always due to the govt.
3) The people winning millions and hundreds of millions still get life changing money after taxes. Nobody is robbed of their new lifestyle because of taxes.
Dammmmm the IRS is the real winner of the lottery money 🤦🏻♂️
So basically if you win a large amount or any amount really and you take the lump sum automatically you get just over half and then there is 37% Federal tax on the rest plus state tax if you live in certain states
Can't forget local taxes a well.
Im rich because God bless me with food and a roof over my head i don't need all that money if God wants me to win one day Im going to help others in need buy me a 2 bedroom house for me and my wife and a drime truck that I always wanted amen
You'll never win big. You're telling the Universe/God, that you're happy being poor/just scraping the barrel, so, no big money for you. Take a lesson from Cynthia Stafford. Google her
Something tells me im gonna be rich... Maybe I'll win the lotto 🤞
I remember winning $2.00 on a scratch off ticket! I invested it, got a lawyer … then I bought a cup of Starbucks! There went my winnings! 🙁
😂 hahahah
😂😂😂
Lucky bastard.
😂😂😂😂😂
Mavis cashed hers in fast because the state of Massachusetts originally said the winner was in Cambridge mass but she was the winner. The winner in Cambridge won one million. So she went to lottery headquarters to straighten it out. Then was outed by the state
Thank god in Australia we don't pay tax on lotto wins.
Japan and England too 😊🎉
The government taxes the lottery fund before it reaches the winner. The lottery prize represents 40% of the total receipts. For a $1m prize the govt. received $1.5m out of a total fund of $2.5m.
Shouldn't in US EITHER 😈😫
be grateful…not greedy
*BUT!!!! You Don't BeLieve in GOD!!!!*
Paid $358 million in taxes? What bs is that ... in canada we dont pay taxes on lottery winnings .
Or for medical services. How is that anyway?
Merica baby!!
"Deliberate charitable things". I like the sound of that. Good plan.
I can't wait to win tonight's Powerball jackpot 😊
Om waitng way to long patienly
Let me hold $2,000
nice video.. excellent production and content
Thank God we here in Germany don't have to pay Taxes on Lottery Winnings! Yeah, 175Mil from 533Mil is still life-changing Money. But over 300 MILLION just for Taxes?! Hell no! I repeat: I'm sooo glad that we here in Germany don't have to pay Taxes on Lottery Winnings and can expect a large Sum Tax-free on our Bank Account! We only have to pay Taxes if we purchase Things like Properties or other Things with it.
From 533 to 175...wow, that's tough. 😒
before that he didnt even have 1 million LOL. what is the complaint, "tough" ?? c'mon.
@@samuelj2408 So, 300+ Million just for Taxes isn't much, huh? 🤨
Gimme a Break...
@@TomSir79 also the point of lottery is to benefit the state and the government, they use the money to fund building roads,schools , etc, it goes into bonds etc, so taxing it at that level is very good. you play a 2 dollar ticket you should be happy if you get the 2 back , let alone one or 500 million lol.
It’s not 300 million in taxes. The 533million is the annuity amount, not the amount the lottery commission has in hand rn. You would get paid that full amount (minus taxes) if you chose the annuity and they would pay you over the course of 30 years. The amount he actually won by taking the lump some is probably around 250-266 million. Still a lot paid in taxes but not not 70%
Where I am from (Singapore) we get to keep ALL the winnings from any types of lotteries. No Tax at all. Winnings received are not taxable as they are windfalls and not considered as an income. We do not need to declare the winnings in our Income Tax Return.
So $533 million became $175 million after taxes? What kind of crazy tax is that?
I won the Mega Millions Tonight 😀
I’m so grateful
Jackpot still raising now with mega m-n😮
🙄
It must be nice being MrBeast, always helping people, being a blessing to others.less fortunate.
As a lottery is a means to get extra money for councils and governments, it's beyond mean to then tax the winner!
However, as the US taxes everyone born there or who is a citizen, even if they've lived abroad for years (and, I believe, are one of only 3 countries in the world to do so) it's not really surprising. Apparently, giving up US citizenship entails a long and aggressive interview with officials. Greedy, I call it.
The wisest thought that is in everyone's minds today is to invest in different income flows that do not depend on the government, especially with the current economic crisis around the world. This is still a good time to invest in gold, silver and digital currencies (BTC, ETH.... stock,silver and gold)
@johnwilson3645As a newbie you’ll need to invest in a company that is working towards sustainability, like that of expert Valerie Collier,and her abilities in handling investments are top notch
After I got upto 900k trading with expert Valerie Jo collier I bought a new House and I'm now able to send my kids to a better school in the states When someone is straight forward with what he or she is doing people will always speak up for them.
That’s her Whatsappinfo
Her good reputation already speaks for her last month i invested over $100,000 with her and I've already made over $850,000 profit.
I checked her up on Google ,she is a verified and licensed broker
I'll invest $5,000 with her
Some of your math is hysterical! Great editing 😊
Move to Canada. Lotto winners here KEEP all the winnings haha.
Lotteries should be 1 million so many families can win! Who needs so much! So sad when there are so many struggling families.
I have said they can make money more jackpot winners when they it's high in every state
I don't get you
@@princemc35 so
I need that much
Who ever the "Power Pack" is they're straight geniuses. Keep THAT money safe 🙏💕
The common error they make, is to show their faces on TV. Now the criminals in the neighborhood or state knows about it. Worse... your family knows now.
True. If I were to win a big jackpot, I wouldn’t tell anyone.
My win is coming very soon 😌💃
God you are only you a Master of everything thank you Lord Amen ❤
As to the old Florida woman who won, and sued her son, I recall the news story to where a young single mother let the old lady go ahead of her, in line to buy tickets. This was at a grocery store they call Publix. The old lady didn't give a dime to that single mom who was so considerate and let that old lady buy what would have been her winning ticket.
Every time I hear about that 2 billion dollar win more of the story is revealed. I already knew there was more to the story.. and now I hear his landlord saw the ticket? And he admitted that he did see the ticket? Of course Castro wants the suit thrown out..
There is no guarantee that the random number generator that creates the Quick Pick numbers for a ticket would be the same for the single mother had she gone first.
The RNG is based on the computer's internal clock. Single mom might have been quicker or slower to buy her tickets. She might have also bought more or fewer tickets.
what the other commenter said is correct. the few seconds delay of letting the old lady go in front of her is what allowed the winning ticket to exist. if she had gone first without the delay, there’s no guarantee the machine would’ve printed her tickets at the same exact time that the old lady got hers printed
"reality bending" that is the best way to put it forsure
If I ever win I will only release my name, which is required by my state, I would never do any interview, then leave the country for a few months after I got my money.
Yup. File as an LLC if state does not have privacy law like Kansas. No freaking way I'm going to advertise I hit the jackpot. You ain't going to know me or see me anywhere.
We don't pay in the Uk taxes on the winnings. Invest wisely in the second year you do. Don't understand the USA. You spend money on a ticket that is already taxed.
I can't believe the amount of tax you have to pay in the US. You'd get a better deal playing The Mafia lottery!
Oops, some one messed up it says the wa 747m winner didnt take home 4720000… they missed a zero
What a huge joke 500+mil and the government gets more than half. 🖕🏼 that.
ungrateful punk u will never win with that attitude lol.
I am winning the lottery 🙏🏽🎉
Yeah sarcastically you are
Congratulations for all winners n gl to once who r still waiting.
20:43 "Like a lot of Floridians, these two have lived most of their lives in Long Island, New York." HAHAHAHAHAHA! rotfl
gov: so you won the lottery yes?
person: yes master ☺
gov: dont forget to give us our CUT 😉 ☠
I wouldnt show me in the public lol
Instead of giving 700 million dollars to one person, they should create new lottery where 700 people will get 1 million dollars each
That's too smart they will not do that😅
That would make people prosperous which they can’t do. It’s about controlling the masses not helping them self actualize
Thats dum ! there can be 1000 winners they all have to hit the numbers
THERE ARE ALREADY LOTTERY GAMES GIVING A WINNER 1 MILLION OR MORE. A PERSON HAS MORE CHANCE TO WIN IT. JUST READ THE ENTIRE SCRATH OFFS.
@@marcusmoyses3809 Ok so?
The taxes are way tooooo high 😥😱😱😱
God bless you and happy new year
In the US you can document gambling losses and deduct them.
Considering the history of many lotto winners, I wouldn't call the lump sum the sensible decision.
The government should NOT be able to take over half your winnings, nor should it be greater than 25%. Not to mention you get taxed buying the ticket in the first place.
Ohh my god this is very good channel❤❤
IRS is real winner of all jackpots😮
Yeah I know right lol 😮
533 mio and 175 mio after taxes? U kidding me??? 😳
I’d like to win an amount just enough to be considered upper class, perhaps 30 to 50 million.that’s enough for you and your family to live a financially worry-free life if you’ll invest/manage it properly.
High net worth is apparently $34 million and above. You’re in private jet territory with that wealth.
500 dólares is good enough if you manage it correctly. Having a lot of money doesn’t guarantee a steady life.
out of a 500 million win, you only get to take home $175 million what a gep!
My husband just resent went to get gas. The woman in line actually bought $2000 in power ball and lottery tickets.
😮 crazy!
Possibly a work pool, GODBLESS
She must be trying out Jerry's system from the new movie with Bryan Cranston 😂
The Taxes in America are ridiculous 🙄
Basically your losing half of your winnings to criminals.
i would work out a deal where i would pay for every bit of DNA from serious crimes that isnt been tested bcoz of a lack of funds,to be tested, anyone can donate to charity and worry about how much good it real did, but this would save 100s of lives while punishing the very worst while making me feel awesome
CEO's of charity take in huge sums per year. Real charitable eh?
that's pretty messed up that even at 2.04B the winner couldn't clear 1B in lump sum...Im sure with even some safe investments they'll do it on their own, but that's still messed up
I’d be happy with a million.
The lump sum cut is an absolute RIPOFF. 50%
Too much money usually comes without blessings be content and happy remember life is short everyday millionaires also die money can’t buy you extra life etc. our goal should be good deeds so we enter paradise forever
Wow just think that ticket cost a whole $10.00 sounds like a good return to have 😭😁
*I hope everyone still hit the lottery other times*
So crazy how the USA taxes lotto winnings. In Australia every win is tax free!!!
Gotta be a crazy night to see that you won $500 million.. you'll only get $175M, but guess what.. I'LL BUY THAT FOR A DOLLAR!!!!
It's crazy how much is kept for taxes. But a good thing about it is that the winning ticket probably only cost them $2.00.
I am so glad my state happens to be one of them that allows winners to remain anonymous. Not that I am sure I will ever have to do that. lol
Michigan needs another win I’m hoping that opportunity can happen to me good luck every one GO WOLVERINES
Wow, what a brand new video with a lot of people I never heard about ❤❤❤❤
The Powerball and Mega Millions jackpot prizes are getting bigger, and bigger, so I believe sharing is the way to go! 🍀
Should you win, a lot of people and organizations will come calling with terrific sharing opportunities.
@@georgesitgraves8474
sharing only if a tax write off , look rich ppl most pay zero tax,s their smart called investing and write offs ,
@@hillbillyintheasia6122 With very expensive CPAs
So why even play the lottery? Whats the point?
I’m going to win Mega Millions tonight 🙏
I’m winning tonight and I’m claiming it !!! 🎉
Did you win?
Way to go. You just made $25M sound like a small amount.
untrue. The CA lottery checks video of the purchase of winning tickets. the ask the person claiming the ticket about the purchase. They only pay when the confirm this information. So, if you buy a ticket turn, look up, hold you ticket and smile for the camera.
@15:20
They hired a human attorney 😂
this channel is showing me what to do When i win im gonna be the first to when the power ball and mega million 🙏🏾
dude i would be soo happy i dont care if i get 1billion dollars after taxes i would be soo dam right happy wouldnt even complain
Guys.... $533 million and after taxes $175 million! The math ain't maphin!!!😅😮
So true I even got angry
13:25 Since the winner was 53 at the time of 2017 win, now she is ~59.
The UK doesn’t tax their Lottery Winners like we do ,they let the winners be winners
Can uk play powerball?
Australia gets all their winning too. None is taken out for tax.
Nice info