0
$ £

Three People Win $1.6 Billion Powerball Jackpot

On Wednesday three players won the Powerball lottery jackpot for a record setting $1.6 billion and will split the huge cash prize between the three of them.

The winning tickets for the drawing were sold in California, Florida, and Tennessee and will see each winner getting more than $28 million before taxes. Under the terms of the game, players can opt for an annuity for the full amount before taxes or take a lower lump sum amount.

The three big winners are going to be subjected to a federal tax rate of 39.1% of their winnings, but the new millionaires are going to luck out as Florida and Tennessee have no personal tax, and California exempts tax on lottery ticket winnings.

The winning numbers drawn on Wednesday were 08, 27, 34, 04, 19, and a Powerball of 10. Even though you didn't win the jackpot, make sure to check your ticket as there are an assortment of smaller prizes that are to be doled out.

Casino Listings will update this story as we learn more about the big winners.

7 replies • Last post

Comments

bgsharpe
Forum Angel
sharpe's picture
Location: Sofia, Bulgaria
Joined: 4 Nov 2014
Posts: 3515
Thanks given: 1132
Thanks received: 364
19 January 2016 - 12:29am
#1

What can I say.. ? Congrats to the lucky winners Money Not only that they've had won the Powerball lottery jackpot but they won't be taxed with these personal fees which is a win win situation Smile This kind of winnings are really life changing so huge congrats once again.

ushope777
Forum Angel
hope777's picture
Location: Minnesota USA
Joined: 1 Jan 2011
Posts: 12524
Thanks given: 1271
Thanks received: 903
19 January 2016 - 2:45am
#2

I thought it was supposed to be 53 or 54 million BEFORE taxes? I don't know That is what I heard and the math follows

How nice they do not have taxes. That would never happen living in Minnesota. lol.

1 member gave thanks for this useful post: sharpe

Hope777

Hope is a good thing, maybe the best of the things, and no good thing ever dies.
Shawshank Redemption

ushope777
Forum Angel
hope777's picture
Location: Minnesota USA
Joined: 1 Jan 2011
Posts: 12524
Thanks given: 1271
Thanks received: 903
19 January 2016 - 2:50am
#3

The one couple ( I think it was Tennessee) was on one of the morning shows. I didn't see them, but I heard about them on the radio after. I guess they were actually advised to do this BEFORE they claimed their winnings at the lottery office. Not sure why.

Their story is the wife asked her husband to pick up four, I think, tickets on the way home. He didn't really feel like stopping, but being a good husband he did, and the rest is history. lol I understand they bought four tickets. That is all I heard except I heard one of the winners already has plenty money and that the FL ticket that was purchased at a Publix grocery store was purchased by an employoee of Publix who had not yet come forward - not sure if that is true. just things I have been hearing.

My son DID win the powerball that day - the problem was it was ONLY the powerball that he matched for a whopping four dollars. lol

1 member gave thanks for this useful post: sharpe

Hope777

Hope is a good thing, maybe the best of the things, and no good thing ever dies.
Shawshank Redemption

ruNin Wayne
Card SharkCard Shark
Location: Nairobi and Moscow
Joined: 2 Jan 2016
Posts: 102
Thanks given: 6
Thanks received: 35
19 January 2016 - 10:33pm
#4

Congrats to the winners but 39.1% on taxes and they are still lucky? wow!......that's almost half the winnings. What would have been the accumulative taxes in other states that levy personal taxes? Just being curious!!

bgsharpe
Forum Angel
sharpe's picture
Location: Sofia, Bulgaria
Joined: 4 Nov 2014
Posts: 3515
Thanks given: 1132
Thanks received: 364
19 January 2016 - 11:35pm
#5
Nin Wayne wrote:

Congrats to the winners but 39.1% on taxes and they are still lucky? wow!......that's almost half the winnings.

The taxes are killing really but I prefer to win 28 mill and pay 40% in taxes than not to win at all.
There's still something left to be spend by them Wink

ruNin Wayne
Card SharkCard Shark
Location: Nairobi and Moscow
Joined: 2 Jan 2016
Posts: 102
Thanks given: 6
Thanks received: 35
21 January 2016 - 10:08pm
#6

Who doesn't, Sharpe? Beer I think it's more of a PR -thing for Powerball.... they should be just announcing the after-tax amount Angel

1 member gave thanks for this useful post: sharpe

krcoolsongss
Slots FanSlots Fan
Joined: 2 Dec 2014
Posts: 1348
Thanks given: 871
Thanks received: 614
6 February 2016 - 1:45pm
#7

Wow, 1.6 billion... Even after the taxes deducted, it is super great win Smile
I will try some big lottery online some day later, too Smile

Share this