Calculating the lottery when you take a lump sum (one time) payout. *(see Note)
Example: 02.17.06 Powerball Lottery, using thier numbers.
Total amount: $365,000,000
Multiply advertised total by 48.57534% (48.58 percent) (.4858)
(365,000,000 x .4858) = 177,317,000 (177,300,000)
Now to figure out what is left after Fed (25%) and State (5%) taxes:
Multiply by 70% (70 percent) (.70) (.7) (taking away 30% for taxes).
(177,300,000 x .7) = 124,110,000
You should get a check for, around 124,110,000 Million Dollars in this example!

Landis
02.25.06

02.25.06 Michigan's Mega Millions Lottery: $256,000,000 (I think that there is a bit higher state tax in Michigan)
256,000,000x.4858=124,364,800x.7=87,055,360 or $87,055,360 (87.05 Million Dollars)
You should get a check for, around $87,000,000.00 !

Landis
02.25.06

My Dream: I've dreamt of the amount I win by the grace of God being $333,000,000.00. So lets see how much is left of that amount to give away.
333,000,000x.4858=161,771,400x.7=113,239,980 or $113,239,980.00

*Note: The advertised amount is calculated by taking the amount of money that is raised and then calculating what the yearly return on goverment notes multiplied by the 26 years would be.
   So, if they take in $1,000,000.00 and were to purchas goverment notes at 4% (.04) return. The advertiesed pot would be represented by your yearly take (the interest on the raised amount) x 26 years would be $2,040,000.00 dollars (approximately).
Bear in mind, as interest rates from the Government go up, you "one time payout" amount will go down because the amount that needs to be put in "your account" to make the 26 year payouts will be less because the overall return because of the higher interest rate will be higher.