Mature Life Features

Cecil Scaglione, Editor

Bit of Excitement Here . . .

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. . . being so close to where the winning ticket was sold for the $473 million Power Ball winner announced t’other day..

A bit of Googling revealed the simple tax answer is IRS takes 25 percent right off the top, although fed top rate is 37 percent so more will be due at tax time. Then comes 3 percent state levy.

Instead of choosing an annuity of 30 payments over 29 years, a lump-sum takeaway in this case would be about $280 million before taxes.. Simple “rule of thumb” is the winner walks away with about one-third of the announced total.

The ticket was sold at the Qwik Trip convenience store/gasoline station a five-minute stroll from the front of our building. Don’t know when it was sold or to whom. The selling store owner in Arizona gets 6.5 percent of all lottery ticket sales and $50,000 prize money.

Local news sources will probably set up a 24-hour watch schedule because the winner has 180 days to claim the prize.

Written by Cecil Scaglione

April 30, 2022 at 3:00 am

Posted in News / Events

Tagged with ,

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