

Posted: 8/22/2017 3:00:36 PM EST
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It will go up by $20 bucks in the morning when I pick up a couple tickets
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Guys, don't bother with getting a ticket, I bought the winning one last night.
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I stand the same odds of getting struck by lightening 7 or 8 times . I still spent $6
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So after taxes, that's like 200 mil?
Edit: Nvm, i should have clicked the link |
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Texas: No State Tax on Lottery Prizes!
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First, I'd move from CO to a state with no income tax before claiming my winnings, and one which would also let me pick up my prize anonymously. Then follow the jackpot instructions thread posted previously.
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Quoted:
I stand the same odds of getting struck by lightening 7 or 8 times . I still spent $6 View Quote So lightning and/or terrible luck runs in our family. Maybe I'll get a ticket. |
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If you look at the info it has federal tax of 25%...that is the amount they automatically takeout, but unless you have tons and tons of deductions, you will come up with a big tax bill at the end of the year. You need to be thinking along the lines of 39% federal tax rate.
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$332,475,000. Yeah, I'll be getting laid
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I know if I won, people would be coming out of the woodwork, accusing me of anything to get a settlement. It's a curse, but I'm willing to sacrifice myself.
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Florida: No State Tax on Lottery Prizes!
Your average net per year: $17,500,000Your net payout: $332,475,000 After 30 payments: $525,000,000 Yeah, I'll go ahead and pay the $2 "stupid tax". Lemme axe a querstion: Lets say one lives in FL. And that person wins via a ticket purchased in a state income tax state, does the winner owe the state of which he is not a resident and is not currently working in "their" cut (state income tax)? |
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After holding back the extra 14% for the rest of the federal tax.....that's still over 260 mill free and clear.
I could get by on that. ![]() |
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Where can you order pallets of ammo from?? Ill need to know after I win tomorrow
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I was at the counter spending $20 on tickets when the lottery sign changed to 700 million - and my wife got an iPhone news flash of the same.
I'm the one who put us over. |
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I'm 40, give me the $305MM and I'll call it even.
Compound for me and the family on a lake somewhere, very large main house custom built to my specs, with some nice other houses, and like a 50 car fully functional garage I'm talking paint booth, lifts/racks, rotisseries ect fully functioning auto shop (I'm a ASE Master Tech both mechanical and paint and body so there are many strange and glorious creations I wouldn't mind doing if I had the means), large Olympic sized pool, dock on the lake for boats ect, and 1000 yard range. |
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Quoted:
They know what state every ticket was sold in I would think. View Quote View All Quotes View All Quotes Quoted:
Quoted:
First, I'd move from CO to a state with no income tax before claiming my winnings, and one which would also let me pick up my prize anonymously. Then follow the jackpot instructions thread posted previously. ![]() |
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I will be buying a ticket. 1 vs 10 doesn't get me better odds. Just means I have 9 losing tickets.
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Quoted:
If you look at the info it has federal tax of 25%...that is the amount they automatically takeout, but unless you have tons and tons of deductions, you will come up with a big tax bill at the end of the year. You need to be thinking along the lines of 39% federal tax rate. View Quote Learn your tax law, lottery winnings are taxed at a flat 25% at the federal level. |
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If you take the annuity, can you will payments to someone else in case you die.
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I know you're suppressed you take the cash payout but damn, I'd miss out on $180M by taking cash. What makes it worth it? I could live of off $16M a year just fine.
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From the notes at the bottom:
9. If you win the jackpot, consult a good accountant and tax attorney for ways to minimize your tax liability. Consider donating a substantial amount to the owner of this Web site, because he gave you such great advice when you needed it most. |
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Doesn't make sense to buy more than one ticket.
With zero tickets, you have zero chance of winning. With 1 ticket, you have a 1 in 87 bajillion chance. A long shot, but significantly better odds than zero. With 20 tickets, you have a 20 in 87 bajillion chance. A statistically insignificant difference from a 1 in 87 bajillion chance. |
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Quoted:
I know you're suppressed you take the cash payout but damn, I'd miss out on $180M by taking cash. What makes it worth it? I could live of off $16M a year just fine. View Quote |
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I'll buy one and have the same chance mathematically as the ones who buy multiple.
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on the way back home to AL after the eclipse, I paid the stupid tax on 5 quickpicks. if one of them wins, I guess I just needto all of a sudden move to TN to get out of paying AL state taxes?
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The lottery analysis above shows a 25% Fed Tax...is that correct (?Capital Gains? tax) vs. the highest income tax bracket (39.6%)...
(And PA just recently started taxing lottery winnings as income at the 3.09% rate).... Edited...just looked it up....they'll withhold 25%, but the rest (taxed as income) is paid at tax time...at the 39.6% rate.....so you better plan for it before you burn bonfires of money at the hookers and blow party..... |
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I cant wait to own my own country! I will be a benevolent dictator and love my people!
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Quoted:
If you take the annuity, can you will payments to someone else in case you die. View Quote I'd have to imagine forming a trust or corporation to claim the winnings is the way to go. Your family could be officers in the corporation so if someone dies there shouldn't be any hitches. |
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