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BRL 10 billion lottery winner could ‘lose’ 70% of the prize; to understand

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A gambler wins the largest lottery prize in US history with approximately US$2.04 billion (about R$10.9 billion at current prices) from Powerball. However, the winner will only be able to take home US$628.5 million (R$3.4 billion).

There were dozens of 10, 33, 41, 47 and 56 with the powerball 10, the special number of the winning ticket. Purchased Tuesday (8) Tuesday in Altadena, California (USA).

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According to Forbes magazine, the winner could be left with “only” a much lower amount of $628.5 million if they choose to withdraw in one go. On the other hand, if he chooses to receive 30 payments in 29 years, he can receive all of $2.04 billion. This option is equivalent to approximately US$68 million (R$365 million) per year.

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taxes

The effective reduction in quantity is caused by federal taxes. If the winner chooses a lump sum, they will leave with $997.6 million, but a portion of the prize pool will be subject to a mandatory 24% withholding fee, leaving $758.2 million.

The wealthy would then face another federal tax of up to 37%, reducing the prize by another $129.7 million. Thus, he would have had 628.5 million US dollars in his hand.

If this exit seems disadvantageous or aggressive to you, the winner can also choose to receive $2.04 billion in 30-year payouts of approximately $68 million. This amount can also be reduced, but at a smaller rate, $42.8 million remains for each payout to the winner after federal taxes.

California, where the winning ticket was sold, is one of 14 states that do not receive a share of the prize winnings for state taxes. Had the prize been taxed in the region, another US$132.7 million (R$714 million) would have been deducted from this tax.

15.11.2022 04:00

source: Noticias

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