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Florida(FL) Mega Money Prize Analysis for Tue Aug 09, 2022
Updated: Saturday, August 6th, 2022 11:33 PM The estimated jackpot for Mega Money on Tue Aug 09, 2022 is $0.06 million. The cash option is $0 million. The Mega Money prize analysis tells you how much you would get after state, local and federal tax withholdings. As legally required by the state of Florida, taxes are withheld on lottery winnings of $600.00 or more. For prizes over $5,000.00, US citizens and resident aliens with a social security number are subject to a 25% deduction to their prizes, which represents federal taxes. Luckily, lottery prizes are exempt from Florida state and local personal income taxes. For more information on taxes for lottery winnings in the state of Florida, click here.
- For the Cash Option in the amount of $0 million, the federal tax that must be withheld is $0.00. There is no state tax for lottery prizes. After all the taxes are paid, the winner gets a net lump-sum payment of $0.00.
- For the Annuity option in the amount of $0.06 million, the winner gets paid in 30 annual payments in the average amount of $2,000.00 per year. The average federal tax liability is $500.00 per year. There is no state tax liability for lottery prizes. The average net lump-sum payment after tax withholding is going to be $1,500.00 per year. Please Note: Powerball annuity payments are NOT allocated evenly by years. The payments increase annually in a 30 year period. Please see below for the detailed payment schedule.
For detailed information on Powerball Lottery Winning Taxes and Prizes Analysis, see the data listed below.
| Florida(FL) Mega Money Prize Analysis for Tue Aug 09, 2022 |
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Tue Aug 09, 2022
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Jackpot: $0.06 Million
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Cash: $0 Million
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| Cash Option - $0 Million |
| Gross Cash Payment | 25% Federal Withholding | 0% State Withholding | Lump-Sum Net Payment | | $0.00 | -$0.00 | -$0.00 | $0.00 |
| Annuity - $0.06 Million in 30 Annual Payments |
| Yr |
Annual Gross Payment |
25% Federal Withholding |
0% State Withholding |
Annual Net Payment |
| 1 | $1,069.81 | -$267.45 | -$0.00 | $802.35 | | 2 | $1,112.60 | -$278.15 | -$0.00 | $834.45 | | 3 | $1,157.10 | -$289.28 | -$0.00 | $867.83 | | 4 | $1,203.39 | -$300.85 | -$0.00 | $902.54 | | 5 | $1,251.52 | -$312.88 | -$0.00 | $938.64 | | 6 | $1,301.58 | -$325.40 | -$0.00 | $976.19 | | 7 | $1,353.65 | -$338.41 | -$0.00 | $1,015.23 | | 8 | $1,407.79 | -$351.95 | -$0.00 | $1,055.84 | | 9 | $1,464.10 | -$366.03 | -$0.00 | $1,098.08 | | 10 | $1,522.67 | -$380.67 | -$0.00 | $1,142.00 | | 11 | $1,583.57 | -$395.89 | -$0.00 | $1,187.68 | | 12 | $1,646.92 | -$411.73 | -$0.00 | $1,235.19 | | 13 | $1,712.79 | -$428.20 | -$0.00 | $1,284.60 | | 14 | $1,781.31 | -$445.33 | -$0.00 | $1,335.98 | | 15 | $1,852.56 | -$463.14 | -$0.00 | $1,389.42 | | 16 | $1,926.66 | -$481.67 | -$0.00 | $1,445.00 | | 17 | $2,003.73 | -$500.93 | -$0.00 | $1,502.79 | | 18 | $2,083.88 | -$520.97 | -$0.00 | $1,562.91 | | 19 | $2,167.23 | -$541.81 | -$0.00 | $1,625.42 | | 20 | $2,253.92 | -$563.48 | -$0.00 | $1,690.44 | | 21 | $2,344.08 | -$586.02 | -$0.00 | $1,758.06 | | 22 | $2,437.84 | -$609.46 | -$0.00 | $1,828.38 | | 23 | $2,535.35 | -$633.84 | -$0.00 | $1,901.51 | | 24 | $2,636.77 | -$659.19 | -$0.00 | $1,977.58 | | 25 | $2,742.24 | -$685.56 | -$0.00 | $2,056.68 | | 26 | $2,851.93 | -$712.98 | -$0.00 | $2,138.95 | | 27 | $2,966.00 | -$741.50 | -$0.00 | $2,224.50 | | 28 | $3,084.64 | -$771.16 | -$0.00 | $2,313.48 | | 29 | $3,208.03 | -$802.01 | -$0.00 | $2,406.02 | | 30 | $3,336.35 | -$834.09 | -$0.00 | $2,502.26 |
| Other Prizes With More Than $5,000.00 |
| 5 White Ball | 25% Federal Withholding | 0% State Withholding | Net Payment | | $1,000,000.00 | -$250,000.00 | -$0.00 | $750,000.00 | 5 White Ball
with PowerPlay | 25% Federal Withholding | 0% State Withholding | Net Payment | | $2,000,000.00 | -$500,000.00 | -$0.00 | $1,500,000.00 | 4 White Ball
Powerball | 25% Federal Withholding | 0% State Withholding | Net Payment | | $10,000.00 | -$2,500.00 | -$0.00 | $7,500.00 | 4 White Ball
Powerball
with PowerPlay | 25% Federal Withholding | 0% State Withholding | Net Payment | | $40,000.00 | -$10,000.00 | -$0.00 | $30,000.00 |
Past Prize Analysis for Mega-Money- Mega Money Jackpot Analysis for Monday, August 8th
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More Prize Analysis for Florida(FL) Mega Money
| Florida Powerball |
SUN MON TUE WED THU FRI SAT |
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Next Draw: Wed Aug 10, 2022
35,000,000
Change: +9,000,000
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