What She Had To Pay In Taxes
The lump-sum option would give Marie Holmes access to $127 million, which is $51 million lower than the alternative. A million bucks are already quite hard to imagine, so $127 million and $188 million do not look all that different. Holmes had no idea that this was not the last deduction she would see. Lottery winnings get taxed like income on both the state and federal levels. The State of North Carolina charges 5.8 percent of it, while the Federal Government receives at least 25 percent. There are times when they can take as much as 39.6 percent if the winnings fall under the highest tax bracket. It is possible that Holmes paid as much as $50 million to bring home her lottery winnings!
What She Had To Pay In Taxes
She Had Noble Plans For The Money
Do you already know what you will do if you ever win a million bucks? Some folks would do the commendable thing by donating to charity, helping their loved ones, and investing the money wisely. Holmes was a kind person who wanted to use the money on noble causes as well! She decided to give some of her money to her church, create college funds for the kids, and move out of the trailer and into a proper home. When she talked about this, she told NBC, “All the struggle that I ever went through, it was all for them. I want them to understand that money doesn’t change you, but it can help you.”
She Had Noble Plans For The Money