A person with a ticket matching all six Powerball numbers in Saturday’s $1.3 billion jackpot came forward Monday to claim the prize, Oregon officials said.
The lottery ticket was purchased at a Plaid Pantry convenience store in the northeast part of the city, Oregon Lottery said in a statement.
Oregon Lottery is working with the person in a process that involves security measures and vetting that will take time before a winner is announced.
“This is an unprecedented jackpot win for Oregon Lottery,” Oregon Lottery Director Mike Wells said in the statement. “We’re taking every precaution to verify the winner before awarding the prize money.”
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I don’t think you understand personal finance. No one in America pays a 70% effective tax rate. How did you end up at $400M??
The lump sum payout for the $1.3 billion was $621 million. Lottery winnings are taxed as income putting the winner in the 37% federal tax bracket leaving $391.2 million. After taking out Oregon state taxes, the winner would be left with $329.8 million.
https://www.usamega.com/powerball/jackpot/2024/4/6
Taking the lump sum, which is roughly half the grand prize, is practically always the better deal. Almost everyone takes the lump sum. If you want the full amount you get it in yearly installments over 40 years. Anyway, so you pay income taxes on the lump sum.
Imagine getting that kind of life-changing sum of money and immediately blowing it on what is probably literally the top 3 highest maintenance luxury items in the world instead of keeping a good portion of it in some index fund and live comfortably for the rest of your life.
I know some people actually do this but seeing it broken down like that makes it even more baffling
What?
The after tax amount for an Oregon winner selecting the cash payout would be $329.8 million.
https://www.usamega.com/powerball/jackpot/2024/4/6
As usual, 'murica is the land of the scam. Over here, the amount they announce as the winnings has already had taxes deducted.