PSA-Mega Millions jackpot is $540 million..Drawing will be Friday 7/8/16.. UPDATED!

[RossMAN]

Can someone research which state would be better to buy tickets from, tax wise?

This Friday I can buy tickets from Washington and/or Oregon.

 

[Svnla]

Can someone research which state would be better to buy tickets from, tax wise?

This Friday I can buy tickets from Washington and/or Oregon.

Washington because it does not have income tax. Lottery winning = income.

Oregon is better if you want to buy goods such as from Costco because of no sale tax. IIRC, the Costco at in Oregon at the Columbia River is one of the highest sale in all of Costco stores because folks from Washington state would cross the river to shop there.

<<--- is NOT a tax expert (full disclosure).

 

[JEDI]

Can someone research which state would be better to buy tickets from, tax wise?

This Friday I can buy tickets from Washington and/or Oregon.

better question- does either allow the winner to keep his name private?
(or collective names, in our case)

 

[tortoise]

Article link:

In Tuesday night's [July 5] Mega Millions drawing, there was no jackpot winner, but 7 lucky players matched the first 5 numbers for a $1,000,000 prize: 1 from California, 1 from Florida, 1 from New Jersey, 1 from Ohio, 1 from Oklahoma, 1 from Pennsylvania, and 1 from Texas.

Unfortunately, none of the second-prize winners purchased their ticket with the Megaplier option for an extra $1 per play. If they had, their prize would have been increased to a whopping $5 million, because the Megaplier number drawn was 5.

14 times better odds (1 in 18,492,204) for a match 5. So many appear to be focused ONLY on the jackpot, and decline the Megaplier option.

 

[Ns1]

14 times better odds (1 in 18,492,204) for a match 5. So many appear to be focused ONLY on the jackpot, and decline the Megaplier option.

surely someone has done the math on the impact to EV by paying the megaplier option?

 

[ManBearPig]

If you don't have $10 in your paypal/venmo account then maybe you shouldn't be gambling.

Damn, relax man! I have enough money to put in $10 but I'd rather not, thats all. I thought I'd see if I could go in for less, but since it bothers you so much, sorry I asked.

 

[ViviTheMage]

Damn, relax man! I have enough money to put in $10 but I'd rather not, thats all. I thought I'd see if I could go in for less, but since it bothers you so much, sorry I asked.

Sorry, trying to make it uniform @ $10!

 

[TXHokie]

One ticket to the AT Millionaire Club submitted. I'll just skip lunch tomorrow.

 

[Svnla]

better question- does either allow the winner to keep his name private?
(or collective names, in our case)

None of the two choices (Washington and Oregon) above because:

Delaware, Kansas, Maryland, North Dakota, Ohio and South Carolina allow winners to remain anonymous.

 

[ViviTheMage]

lots of people are not filling the form/survey out, make sure you fill it out after you pay up.

 

[ManBearPig]

When does the buy in end?

 

[SeaSerpent]

Completed and good luck to us!

 

[corwin]

In again, I will never learn...until we win

 

[4eigner]

I'm in for 1. I think I filled the form out correctly? Ruh roh.

 

[Chiropteran]

Delaware, Kansas, Maryland, North Dakota, Ohio and South Carolina.

Those states allow the winner to remain anonymous.

Otherwise, we could form an LLC, with all involved as members, giving equal ownership, and assign the winning ticket to the LLC, that can grant some anonymity in the non-anonymous states.

 

[zinfamous]

surely someone has done the math on the impact to EV by paying the megaplier option?

I actually buy the tickets because of the 1 million or even the 50k.

But not every state is eligible for megaplier. It's possible that some if not all of those people could even purchase a magaplier in their state. In MD, I can't. But I can in VA.

 

[WaTaGuMp]

You fuckers are not going to win, I am.

 

[zinfamous]

Washington because it does not have income tax. Lottery winning = income.

Oregon is better if you want to buy goods such as from Costco because of no sale tax. IIRC, the Costco at in Oregon at the Columbia River is one of the highest sale in all of Costco stores because folks from Washington state would cross the river to shop there.

<<--- is NOT a tax expert (full disclosure).

It might tax lotto winnings separately, however. ...I think.

 

[Imported]

In!

 

[mafia]

Officially in!

 

[JSt0rm]

my body is ready

 

[RaistlinZ]

 

[WaTaGuMp]

 

[RossMAN]

Yeah, PM'd ya. venmo is 100% free luckily...and they did not seem to care about it being for lotto funds... $10 minimum again as well.

When is the next drawing? Isn't it tonight?

YGPM

Let's win this or keep going until AT LOTTO 21 at which point we'll all be poor and sharing a townhouse with this guy

Next drawing is this Friday July 8th 11:00 PM Eastern. When is the cutoff?

If it's decided I'm buying the tickets, Washington or Oregon?

 

[Dr. Zaus]

It might tax lotto winnings separately, however. ...I think.

No, Our supreme court said that income tax was unconstitutional (twice). We could have a flat tax, but otherwise an income tax is constitutionally invalid in Wa.

State tax in Or. is about 10% with no sales: Only reason I go across the river to best buy is because it's less expensive than amazon.

I swear to God Or and Wa to opposite things just for the sake of being different.