Post #407,499
1/11/16 9:55:46 PM
1/11/16 9:55:46 PM
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You can't win if you don't bet.
That's me.
But, for those that do, this Powerball is a horse of another color. Even after taxes, it's hundreds of millions of dollars.
Alex
"There is a cult of ignorance in the United States, and there has always been. The strain of anti-intellectualism has been a constant thread winding its way through our political and cultural life, nurtured by the false notion that democracy means that "my ignorance is just as good as your knowledge."
-- Isaac Asimov
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Post #407,526
1/13/16 12:39:46 PM
1/13/16 12:39:46 PM
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600 mill before taxes 450 mill after taxes, lotta hookers and blow in there
always look out for number one and don't step in number two
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Post #407,527
1/13/16 1:59:24 PM
1/13/16 1:59:24 PM
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Pre-tax $1,500,000,000 now. Thats paid out over many years.
$930 Million Cash Value.
I'm sure it will be higher by tonight when the numbers get picked.
Alex
"There is a cult of ignorance in the United States, and there has always been. The strain of anti-intellectualism has been a constant thread winding its way through our political and cultural life, nurtured by the false notion that democracy means that "my ignorance is just as good as your knowledge."
-- Isaac Asimov
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Post #407,528
1/13/16 2:34:25 PM
1/13/16 2:34:25 PM
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need to cash it out and pay taxes
Otherwise if you croak your dependants have to pay tax on the 1.5 billion before getting a dime. Good luck with that loan.
always look out for number one and don't step in number two
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Post #407,529
1/13/16 3:05:30 PM
1/13/16 3:05:30 PM
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The taxes get removed before you get the money, IIRC
So with the immediate payout 1.5B ends up being about 500M before you get anything.
Regards, -scott Welcome to Rivendell, Mr. Anderson.
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Post #407,530
1/13/16 5:15:02 PM
1/13/16 5:15:02 PM
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but not if you take payments
the taxes are removed during each annual payment. However of you pass all taxes on the balance needs to be paid before heirs get a dime
always look out for number one and don't step in number two
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Post #407,542
1/13/16 11:57:58 PM
1/13/16 11:57:58 PM
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Some state-by-state calculations.
https://www.usamega.com/powerball-jackpot.aspIt doesn't seem to say anything about dying early, though. Assuming a $1.5B jackpot: Louisiana: 5% State Tax - $2,644,000 for annuity - $49,175,000 for lump sum Your average net per year: $37,016,000 annuity Your net payout: $688,450,000 lump After 30 payments: $1,110,480,000 annuity Cheers, Scott. (Presumably the first thing the winner will do is talk to a tax advisor and learn the skinny for their particular circumstances.)
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