The Real Winners Of The Billion-Dollar Jackpot: Tax Collectors

Markings on lottery ticket, close up

At a glance

  • One thing that multiple Twitter users agreed on was that the IRS would win out no matter what.
  • “The only guaranteed winner in tonight’s $1.1 billion Mega Millions drawing is the IRS,” Grit Capital CEO Genevieve Roch-Decter tweeted on Monday. “They’ll collect at least $200 million immediately if the winner selects the $568m immediate cash payout.”
  • “CONGRATS to the IRS for winning the $846.3MM Mega Millions lottery!” investing outlet Market Rebellion tweeted alongside a picture of a Forbes article headlined “Winner Of $1.28 Billion Lottery Gets $433.7 Million After Tax.”
  • Business author Jared Dillian did an in-depth estimate of the full lottery earnings. “The Mega Millions jackpot is $1.1B. The cash value is $568.7mm. Assuming a 45% tax rate, that leaves you with about $313mm.”

 

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