alottoluck.netfirms.com

For Draw Date: Jan. 19, 2007

Annuity		Cash
Mega Millions Jackpot for Fri, Jan 19, 2007 $25,000,000		$15,000,000
Gross Prize 26 annual payments of $961,538		Lump-sum cash: $15,000,000
- 25% Federal Tax - $240,384		- $3,750,000
Subtotal $721,154		$11,250,000
- State Tax:
California: No State Tax on Lottery Prizes!
Your net per year: $721,154		Your net payout: $11,250,000
After 26 payments: $18,750,004
Georgia: 6% State Tax - $57,692		- $900,000
Your net per year: $663,462		Your net payout: $10,350,000
After 26 payments: $17,250,012
Illinois: 3% State Tax - $28,846		- $450,000
Your net per year: $692,308		Your net payout: $10,800,000
After 26 payments: $18,000,008
Maryland: 7.5% State Tax for In-State Residents - $72,115		- $1,125,000
Your net per year: $649,039		Your net payout: $10,125,000
After 26 payments: $16,875,014
Non-Maryland Residents: 5% State Tax - $48,077		- $750,000
Your net per year: $673,077		Your net payout: $10,500,000
After 26 payments: $17,500,002
Massachusetts: 5% State Tax - $48,077		- $750,000
Your net per year: $673,077		Your net payout: $10,500,000
After 26 payments: $17,500,002
Michigan: 3.9% State Tax - $37,500		- $585,000
Your net per year: $683,654		Your net payout: $10,665,000
After 26 payments: $17,775,004
New Jersey: No State Tax on Lottery Prizes!
Your net per year: $721,154		Your net payout: $11,250,000
After 26 payments: $18,750,004
New York†: 7.7% State Tax - $74,038		- $1,155,000
Your net per year: $647,116		Your net payout: $10,095,000
After 26 payments: $16,825,016
Ohio: 6% State Tax - $57,692		- $900,000
Your net per year: $663,462		Your net payout: $10,350,000
After 26 payments: $17,250,012
Texas: No State Tax on Lottery Prizes!
Your net per year: $721,154		Your net payout: $11,250,000
After 26 payments: $18,750,004
Virginia: 4% State Tax - $38,462		- $600,000
Your net per year: $682,692		Your net payout: $10,650,000
After 26 payments: $17,749,992
Washington: No State Tax on Lottery Prizes!
Your net per year: $721,154		Your net payout: $11,250,000
After 26 payments: $18,750,004

New York also imposes additional withholding if you live in one of the following jurisdictions: New York City (4.45%) and Yonkers (0.385%).

Important Notes

• All of the amounts listed above are the taxes withheld at the time of the prize award, not your exact final tax burden.  Since every individual winner's situation differs, and every winner chooses to dispense their winnings in a different manner, there is no way for us to determine what you final tax burder will be.  For example, someone who gives a large amount away to charities would have a vastly different tax burden than someone who buys new cars and houses.  The chart above provides the information that we know for sure: the money that you will initially receive from the lottery.
• The jackpot numbers are estimates rounded to the nearest million dollars.
• The jurisdiction in which you live may impose additional local taxes, beyond those listed here. Please verify all information with your local government tax agency.
• State lotteries typically deduct other amounts from prize payments, such as child support payments, back taxes owed, outstanding student loans, and other government agency responsibilities.
• If you are not a U.S. resident, you will typically have a flat 30% federal withholding, and state taxes may differ from what is listed above. Consult with your local government tax authority for more information if you are not a U.S. resident.
• The states modify their tax withholding rates from time to time, and this chart is accurate as to our latest information we could track down.

(Information from http://www.usamega.com/. "A Lotto Luck" is not resposible for misprints, ommisions or errors in this data. Please verify all results with your state lottery)