Lottery Questions

The highest lottery prize ever was won in November 2022 in the amount of:

• $2.04 Million

• $20.4 Million

• $204 Million

• $2.04 Billion

What are the chances of winning the Powerball by matching all six numbers?

• 1 in 1,000,000

• 1 in 9,000,000

• 1 in 29,000,000

• 1 in 292,200,000

True or False: All lottery winners are paid in a lump sum of cash no matter what.

• True

• False

After taxes, roughly what percentage of the advertised prize money does the winner receive?

• 50%

• 30%

• 10%

• 5%

What is a tax tip from professionals and experts?

• Leave the taxes for tax season

• Taxes can be pushed out into the future

• Begin planning your tax strategy early

• Don’t worry about paying taxes, the IRS never checks