Had a similar issue in Ohio happen a few times once it hit 1,000,000,000. Only affected certain places though, grocery store was down while the gas station was up.
I wasn't aware that it was laddered that way. Over 30 years in equal amounts it would 63 million and change per annum. I kind of like the idea of getting that check every year for three decades. It's also a wise thing for people who are bad with money. If you blow your 63 million in 6 months just wait another 6 months and you'll get another 63m. Hopefully you will have learned your lesson.
I believe they take 25% off the top but you're still responsible for the rest. The winner will be in the max 37% bracket.
You can see what you'll get after the government steals it all here:
Thanks for the breakdown. The non-tax states gets you, on average, an extra 100 million. And *Jay* was right about how the monies are laddered if one elects the annuity.
What happens to the annuity when you die?
My guess would be it goes to your estate.
I thought I had heard that you could lose it upon death. I will just do the lump sum when I win.
There will be a death/estate tax and inheritance tax but the remaining payments of the annuity will not be taken over by a state.
With that much money at stake you're likely to lose it even in states where you're supposed to get it. I know people that have been embattled with the state for years in court over large inheritances because their parents were too stupid to get their affairs in order prior to death.
