Jeanne, a resident of Sandusky, Ohio, recently won $15 million through an Ohio Lottery 50th Anniversary scratch-off ticket. However, she ultimately took home only $5.4 million after taxes and her chosen payout option.
Jeanne had a choice: receive $600,000 annually for 25 years, totalling $15 million, or opt for an immediate cash payout of $7.5 million. She chose the latter. After accounting for 28% in state and federal taxes, her winnings were reduced to $5.4 million.
