$650 million Powerball

[grean]

If I win, I'm totally having a hooker party! Booking all of the hot ones for a week long fuckfest!

Edit: after I'm going to have at least 3 hookers on payroll to fuck pretty much whenever I want.

[Prolongus]

You can buy a lot of hope and excitement for only $2.

[Guest050619-1]

Originally Posted by CG2014

No they take 25% off the top before cutting you a check.

You will still have to pay more Federal income tax on the remaining depending on what income tax bracket you are in and what you do with the money from the check.

But there are legal ways around it. Never collect the money in your name.

All correct. I believe (according to this morning's latest calculations) you'd be looking at a NET of $308 million, give or take. Speaking of take....

A top-of-the-line tax attorney would be your first phone call (waaaaaaaay before even notifying family, etc....if you even dare open that Pandora's Box at all). I'm sure his / her fees would more than make up for whatever else the Fed$ would love to help themselves per your sudden windfall.

Good luck, campers.

[DathBane1986]

Originally Posted by Chateau Becot

All correct. I believe (according to this morning's latest calculations) you'd be looking at a NET of $308 million, give or take. Speaking of take....

A top-of-the-line tax attorney would be your first phone call (waaaaaaaay before even notifying family, etc....if you even dare open that Pandora's Box at all). I'm sure his / her fees would more than make up for whatever else the Fed$ would love to help themselves per your sudden windfall.

Good luck, campers.

If you take the lump sum amount you're going to leave yourself about 443 million, used to not be a lottery player but I live in the red bird area there was this white dude that used to work at a Texaco right down the street from my house about 4-5 years ago he won a million dollars off the megamillion ticket I've been a Player every since than, the most I've never won is 5000 on a dollar ticket 3 years ago. I bought $99 worth of tickets on yesterday but if I win I'm going to invest it and I think I'm going to give the hobbying game the boot if I do good luck gents!!!

[Groot]

It's over $700M now so you guys keep number crunching so I'll know how much I get to take home. Thanks.

[TexTushHog]

Originally Posted by Chateau Becot

A top-of-the-line tax attorney would be your first phone call (waaaaaaaay before even notifying family, etc....if you even dare open that Pandora's Box at all). I'm sure his / her fees would more than make up for whatever else the Fed$ would love to help themselves per your sudden windfall.

Good luck, campers.

No doubt that the first call you make should be to an attorney you trust. And one of the first things he should do is hire a very top of the line tax attorney. But I rather doubt that there is much that could be done. You might try putting the asset inside a family limited partnership, but my understanding from some recent seminars is that the service has cracked down on easily valued and highly liquid assets in family limitied partnership tax schemes and will essentially give little or no discount. Nothing is more easily valued nor nor liquid than a lottery ticket. Tax rates on trusts go up more quickly than individual rates, so they offer no protection against taxes, though they may well be very useful for protecting against premature disapation. My guess is you would be stuck paying 39.6%. But you have to run the traps just in case.

[Copierguy0]

Originally Posted by grean

If I win, I'm totally having a hooker party! Booking all of the hot ones for a week long fuckfest

all the money in the world, and access to all the hookers in the world,
will not solve the issue that, we only have 1 dick. lol

Originally Posted by DathBane1986

If you take the lump sum amount you're going to leave yourself about 443 million

my cash value option lottery ticket says:
$443,300,000 to be exact.

AND NOW FOR THE BAD NEWS:
Someone could win the largest lottery prize in American history Wednesday night.
Not to be a killjoy, but there's only a 0.0000003% chance it will be you. lol

CG

[jack_black81]

funny thing is, you win THAT kinda money and alot of women will sleep with you for free.

[CG2014]

In the section Are lottery prizes taxable?, it reads 25% Federal Income Tax

https://www.usamega.com/powerball-faq.asp

If you win get a honest tax attorney and honest financial advisor to create a trust and collect the money under the trust and you receive a monthly payment from the trust.

This way you remain anonymous and at the same time, you won't get all the $ at one time and you won't go crazy with it; also less risk of people seeing hey, how did that guy go from driving a Toyota to a Rolls and go from living in an apartment to a 10 room mansion?

[TexTushHog]

25% is the withholding on the W-2G, not the tax you will pay. For all practical purposes, you will pay the 39.6% maximum marginal individual rate on almost the entire about.

https://www.irs.gov/pub/irs-pdf/iw2g.pdf

[CG2014]

So you have to pay an additional 14.6% or an additional 39.6%?

[CG2014]

6, 7, 16, 23, 26. Powerball: 4

Fuck! I didn't even get one # right.

Wasted $20.

[TexTushHog]

A total of 39.6% on all income over $418,400 is you're single. One winner in Massachusetts.

[Copierguy0]

Originally Posted by Copierguy0

(white balls) the most popular is number 42. It is closely followed by 16, 35, 26, and 19.
CG

Powerball-winning ticket for $758.7 million jackpot sold in Massachusetts. One Powerball jackpot-winning ticket has been sold in Massachusetts, officials say, for the massive $758.7 million jackpot, the second-largest in U.S. history.

Powerball Product Group Chair Charlie McIntyre says the $758.7 million jackpot is the largest grand prize won by a single lottery ticket in U.S. history. The total amount is second only to a $1.6 billion prize shared by three people in January 2016.

The winning numbers for Wednesday night's Powerball lottery jackpot are 6, 7, 16, 23 and 26 with a Powerball of 4 and a Power Play of 4.

In a statement early Thursday, McIntyre also says six other tickets won $2 million apiece, and 34 more are worth $1 million.

I had 3 numbers 23,26 +powerball 4 = $7.00
invested $40.00
(i had all the right numbers spread over the 20 tickets, to bad they were not all on 1 ticket)

CG

[CG2014]

Whoever he/she is, I hope he/she is getting a bunch of honest reliable lawyer and tax advisor and finance expert together and collecting it as an anonymous trust.