September: Record Lottery Jackpot – 1 – USA Lump Sum

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In the USA the following are the largest single lump sum payouts:

* Andrew J. Whittaker Jr. of West Virginia, won $314.9 million in the Powerball drawing of December 25, 2002. Opting as most large prize winners in the U.S. do for the lump sum, his after-tax prize was $114 million.
* Geraldine Williams from Lowell, Mass. is the largest single Mega Millions winner, at $294 million. The $168 million lump sum she opted for was reported as $117.6 million after taxes.
* Harold and Helen Lerner of New Jersey also claimed a higher after-tax lump sum than Whittaker in Mega Millions for the September 16, 2005 drawing, as New Jersey then had no state tax on lottery prizes. They chose to receive $156 million in cash instead of the $258 million face value. Then there is a 25 percent federal withholding tax[citation needed], which left them with around $117 million.
* The October 19, 2005 Powerball drawing won by nine members of the West and Chaney families of Medford, Oregon was for a larger annuity ($340 million) but a smaller lump sum than Whittaker’s.
* On February 22, 2008, Robert and Tayne Harris of Portal, Georgia claimed the only Mega Millions jackpot ticket, with an annuity value of $270 million (cash value $167 million) before taxes. After 25% percent federal withholding and 6% state withholding, they were left with around $115 million.