ELI5:Why is the lump sum value of the lotto so much less

why is the cash value of lottery less
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Because the federal government counts lottery winnings as income, getting such a large jackpot would likely move the winner into a higher tax

For example, the record-setting Powerball jackpot was advertised as being $ billion while its cash value was $ million Get health care

why do poker players wear sunglasses Most winners opt for the cash option, even though doing so means you get a reduced sum Deciding which option is best depends on a few different

why are lottery winnings taxed The IRS considers net lottery winnings ordinary taxable income So after subtracting the cost of your ticket, you will owe federal income taxes