WHAT WE KNOW
- In the state of California there is no state tax on lottery winnings - YAY!
- Annuity vs. Lump Sum - might be worth it to take annuity. Its stays in your estate AND you would get on an average of $17,500,000 per year; and after 30 payments: that's $525,000,000 vs. the Lump Sum: net payout: $332,475,000. That's about $200 million your family would inherit.
We had a great conversation with Cathy Johnston spokesperson from the Lotto answering all the vital questions.