If you took the cash option and invested, you'd only be taxed in the future on capital gains and interest on investments (assuming you invested and didn't just take the cash option only to screw yourself over)Yeah, then you get taxed even more as time goes by. Probably end up losing around a total of 38% of the $600m in taxes.
There's no "eat up" though. The winnings are based on an annuity (30 years I believe). It says so on every ticket last I saw.
A Huddle House?Hey @drvenner ! Guess what we're getting in Powell?
$615 million coming out before I touched it...I will call eaten up...that's the lump sumIf you took the cash option and invested, you'd only be taxed in the future on capital gains and interest on investments (assuming you invested and didn't just take the cash option only to screw yourself over)
If you took the annuity, then there wouldn't be the initial 24% withholding, then your annuity payouts would be taxed as regular income.