check in borden town. steve: altogether the powerball ticket is worth $338 million. but when you figure out your tax bite, 46.1%. about half goes to federal and new jersey state taxes if he does take it in the lump sum, he will take home $221 million. brian: how do you live on that? steve: how do you? unfortunately, for the tax bite, it is $11 million more than it would have been last year because of that increase in taxes on people who have a lot of dough. gretchen: remember in the good old days when they started these lotteries and all those tax dollars were supposed to go to improve education in america? how did that work out? schools are broke. i don t get it. i thought the lottery was supposed to be the savior for our school systems 20-something years ago when this started but it still hasn t helped the school system apparently as far as
take care of my family. many lottery ticket buyers had high hopes that their numbers would match up with the winning six combo but there is only one winning ticket for the $338.3 million jackpot, the fourth largest in powerball history. that means the winner can take home a lump sum payout of $221 million. those who know for sure they won t be cashing in have some suggestions for the winner whose financial future has changed overnight. hire a professional, get is inch sresd. put some money away but testify in it lee have fun of it. i d put a big chunk of it away and go from there. 13 other ticket holders who matched five numbers can each claim a $1 million prize. they bought their tickets in 11 different states, including new jersey and new york. i m hoping it s somebody i know, maybe my sister, my brother, you never know. you never know. bill: lisa everts reporting from
millionaires they aren t happy. we are happy not have to won. everybody should feel good about it. gretchen: you are fact that a lot of the money has been squandered and people end up, some of them say they wish they would not have won. take a look at tax situation, if you win the $338 million, 46.2% is going to the federal government and new jersey state tax, if it goes to new jersey is the state where you live, you take $221 million. there are different ways of calculate that go as well versus lump sum. brian: what is interesting they withhold 25% federal withholding but you wind up paying close to 40%. save a little for the taxman. steve: since 1974, i have been unable to get top of the
winners can elect to be paid out over 29 years or lump sum option when which in this case is 221 million. the odds of winning by the way about 175 million to one. those are some odds. shepard: i will say. julie banderas tonight. thanks. boeing dream liner returned to the skies today. first flight since all the battery problems grounded all around the world. boeing held a 2 hour test flight in seattle. aimed at showing federal officials that those battive tri issues are fixed. batteries caught fire on board two of the planes. one in boston and the other in japan. that incident led to full scale investigation and caused the feds to ground all 50 of the deem liners currently in flight. today, federal transportation officials announce they will hold a forum next month looking at the safety of that type of battery. and it seems those same officials are figuring out that ipads and kindles do not make planes fall from the sky. they might relax the rules
because we have a fox news alert. cyprus clinched a last minute deal by securing $13 billion bailout in exchange it has to cut back oversized banking sector including shutting the second largest banks and find raise to get $7.5 billion on its own. measures will keep the island from collapsing but will likely deepen the recession there. the winner of $338 million jackpot is expected to be revealed. big rig driver said he bought the ticket. 46.2% of federal and state taxes he ll take home $221 million. there is a hearing whether amanda knox will have to go on trial again. they want her conviction