Powerball jackpot at $400 million - Oops! $1.5 billion - $40 mil

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destrekor

Lifer
Nov 18, 2005
28,799
359
126
MOAR... moar people sign up! It'd be awesome to crack $1000 on the pool (so, 100 people). 500 entries... not too shabby. Let's do it!
 

disappoint

Lifer
Dec 7, 2009
10,137
382
126
So what does each ATOTer get if you win?

It's 1.5B annuity but 930million cash value. Tax is about what say 40%? Then state tax another 8%? So you're left with a little over a half. Half of 930 is 450+15= 465 million. If you divide it up evenly among 100 ATOTers that's 4.65 million a piece. Not really a huge amount anymore but not bad.
 

mafia

Golden Member
Jul 10, 2008
1,671
3
76
If you divide it up evenly among 100 ATOTers that's 4.65 million a piece. Not really a huge amount anymore but not bad.


Not really huge?? 4.5 million IS A LOT!! That's 45 years of salary for someone who makes 100k a year. If you manage your money wisely, you don't have to work anymore. I'll take it :thumbsup:
 
Feb 4, 2009
34,703
15,951
136
Yeah 4 million should easily net you 120k per year plus leave enough to reinvest to cover inflation. Municipal bonds could easily handle that it's about as safe of an investment you could possibly make.
 

JEDI

Lifer
Sep 25, 2001
30,160
3,302
126
so ~60 people in so far.
if we win the $1M 2nd place prize, then it's only $16,667/person before tax.

not FU $, but a nice return on $10
 

Ns1

No Lifer
Jun 17, 2001
55,414
1,574
126
Powerball for the 1%

At Colker's Union Oil 76 station in Beverly Hills, the flow of traffic has been "crazy," employee Rosie Perez said. On Saturday, she said, they weren't selling gas because the pumps were blocked by people who came to purchase tickets. There has been a mix of customers coming to the station, Perez said. Some are middle class, others are wealthy.

"They buy from one [ticket] to $1,000, $2,000, $3,000," Perez said.

Sometimes, she said, people send their housekeeper or gardener to buy them a ticket.

An "overwhelming" number of wealthy buyers have flocked to the Rite-Aid in Beverly Hills, one worker said, with some customers purchasing thousands of dollars worth of tickets. Their expensive purses, shoes and tailored suits provide sharp clues that they are not among L.A.'s blue-collar workers.

http://www.latimes.com/local/california/la-me-0112-powerball-rich-20160112-story.html
 

stlc8tr

Golden Member
Jan 5, 2011
1,106
4
76
So what does each ATOTer get if you win?

It's 1.5B annuity but 930million cash value. Tax is about what say 40%? Then state tax another 8%? So you're left with a little over a half. Half of 930 is 450+15= 465 million. If you divide it up evenly among 100 ATOTers that's 4.65 million a piece. Not really a huge amount anymore but not bad.

There are several states that do not tax lottery winnings. Seems like it would be worthwhile to purchase in one of those states.
 

zinfamous

No Lifer
Jul 12, 2006
110,821
29,576
146
Vivi, what happens if someone under 18 sends you money?

depends.

If it goes to Vivi then the split...then very likely no problem

If it is split at once, at the beginning, which seems possible and is better taxwise?, then that could be a problem....or someone agree to share with the 18 year old then just write a cheque...though that is another tax issue, if I am not mistaken.
 

ViviTheMage

Lifer
Dec 12, 2002
36,190
85
91
madgenius.com
depends.

If it goes to Vivi then the split...then very likely no problem

If it is split at once, at the beginning, which seems possible and is better taxwise?, then that could be a problem....or someone agree to share with the 18 year old then just write a cheque...though that is another tax issue, if I am not mistaken.

Yeah, most likely have your parents accept it if needed?

Math seems off...
 
Last edited:

highland145

Lifer
Oct 12, 2009
43,563
5,966
136
Vivi, what happens if someone under 18 sends you money?
They get to pay income tax like everyone else. People under 18 can earn wages. My 14 yo will get the pleasure of filling out his taxes this year if he wants his refund. Intentionally had him file single and 0.
 

Pantlegz

Diamond Member
Jun 6, 2007
4,631
4
81
They get to pay income tax like everyone else. People under 18 can earn wages. My 14 yo will get the pleasure of filling out his taxes this year if he wants his refund. Intentionally had him file single and 0.

It's probably coming into question because people under 18 can't legally gamble and probably can't(shouldn't) be included in the group buy.
 
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