PSA - Powerball jackpot is now $550 million USD (2018 edition)

[Svnla]

Even with ATOT high roller/baller standard, that is a lot of money.

That's all.

 

[GagHalfrunt]

So that means I didn't win last night?

 

[Ricochet]

Time for me to pay my taxes. I sense office pool coming up at my work.

 

[RockinZ28]

Guess I'll buy another ticket. Worth $2 for the extremely unlikely chance I won't have to ever go to work again.

 

[Darwin333]

I'll have to get my butler a few tickets, he could really stand to upgrade his jet.

 

[ponyo]

$2 is hotdog and Pepsi money at Costco with change left over. I'll wait until it hits $billion.

 

[Bird222]

$2 is hotdog and Pepsi money at Costco with change left over. I'll wait until it hits $billion.

Yeah, cause you can't use $650 million.

 

[zinfamous]

Yeah, cause you can't use $650 million.

still, his chances are way better with the hotdog.

 

[Svnla]

Update with new jackpot amount.

 

[rh71]

Joined a local pool. $10 each so far 18 of us.

Hmm, what I could buy for $15mil after taxes...

 

[tommo123]

Joined a local pool. $10 each so far 18 of us.

Hmm, what I could buy for $15mil after taxes...

taxes? is that why american lottery amounts are so much smaller than the advertised sum? here in the UK the amount advertised is the amount you actually get. no 20 year spread either. you win £160 million then you get £160 million - in 1 lump sum afaik

 

[Svnla]

taxes? is that why american lottery amounts are so much smaller than the advertised sum? here in the UK the amount advertised is the amount you actually get. no 20 year spread either. you win £160 million then you get £160 million - in 1 lump sum afaik

Yup. It is sucky. See, the amount of $700 million USD is only "if" you take it in installments of multiple years. If you take it in one lump sum, it will be $443.3 million. Then you will have to pay federal tax (everyone, no exception) and then state tax (except for a handful of states that have no income tax or no tax on lottery winning) and then local tax. I don't think I miss anything else.

But I am wiling to play all of that taxes just to win.

 

[tommo123]

Yup. It is sucky. See, the amount of $700 million USD is only "if" you take it in installments of multiple years. If you take it in one lump sum, it will be $443.3 million. Then you will have to pay federal tax (everyone, no exception) and then state tax (except for a handful of states that have no income tax or no tax on lottery winning) and then local tax. I don't think I miss anything else.

But I am wiling to play all of that taxes just to win.

isn't there a state where they still run the lottery but can't be bothered paying out? it was on john olivers show at some point. the state used it as a tax and didn't have funds to pay

 

[highland145]

isn't there a state where they still run the lottery but can't be bothered paying out? it was on john olivers show at some point. the state used it as a tax and didn't have funds to pay

Heh, that utopia Illinois is a possibility.


I bought mine in CO so I have a better chance that the rest of you mooks.

So if...lololol...I win, can I collect in S.C. and not disclose my name or do I have to collect in CO?

 

[Thebobo]

When I win I promise to hire someone to keep posting for me here.

 

[zinfamous]

Heh, that utopia Illinois is a possibility.


I bought mine in CO so I have a better chance that the rest of you mooks.

So if...lololol...I win, can I collect in S.C. and not disclose my name or do I have to collect in CO?

you have to go to the lotto board in CO. lol joke's on you: your cheapass will actually have to go back to CO to collect your millions!

 

[highland145]

you have to go to the lotto board in CO. lol joke's on you: your cheapass will actually have to go back to CO to collect your millions!

Wonder how much a bus ticket costs?

 

[SearchMaster]

Heh, that utopia Illinois is a possibility.


I bought mine in CO so I have a better chance that the rest of you mooks.

So if...lololol...I win, can I collect in S.C. and not disclose my name or do I have to collect in CO?

CO allows a trust to collect winnings, so you could theoretically remain anonymous if you pay a competent lawyer some money to set up the trust properly. SC allows anonymous individuals to win so you could have bought it in the homeland as well.

 

[zinfamous]

Wonder how much a bus ticket costs?

anywhere between ~$50 and up to your head.

https://en.wikipedia.org/wiki/Killing_of_Tim_McLean

 

[Svnla]

The odd of winning - https://www.yahoo.com/gma/breaking-...pot-133903544--abc-news-personal-finance.html

Heh, that utopia Illinois is a possibility.


I bought mine in CO so I have a better chance that the rest of you mooks.

So if...lololol...I win, can I collect in S.C. and not disclose my name or do I have to collect in CO?

IIRC, you claim your winning at your "home" state, where you have been living prior to the purchase of the ticket. It is to stop people claiming tickets in the states with no income tax.

For example, a person in Louisiana (with a max rate of income tax of 6%) can not run across the state line to purchase a ticket and then claim the ticket in Texas and not paying the 6% tax (in this case, in the million and million) to his/her home state of Louisiana because Texas does not have income tax.

 

[Thebobo]

The odd of winning - https://www.yahoo.com/gma/breaking-...pot-133903544--abc-news-personal-finance.html



IIRC, you claim your winning at your "home" state, where you have been living prior to the purchase of the ticket. It is to stop people claiming tickets in the states with no income tax.

For example, a person in Louisiana (with a max rate of income tax of 6%) can not run across the state line to purchase a ticket and then claim the ticket in Texas and not paying the 6% tax (in this case, in the million and million) to his/her home state of Louisiana because Texas does not have income tax.

When I will I'll hire Tumps tax lawyer away from him full time.

 

[highland145]

CO allows a trust to collect winnings, so you could theoretically remain anonymous if you pay a competent lawyer some money to set up the trust properly. SC allows anonymous individuals to win so you could have bought it in the homeland as well.

Knew about the SC trust. We were in CO harassing PricklyPete ...uh, I mean on vacation so I picked up one there. I'll let you know how much I clear when I win.

anywhere between ~$50 and up to your head.

https://en.wikipedia.org/wiki/Killing_of_Tim_McLean

The odd of winning - https://www.yahoo.com/gma/breaking-...pot-133903544--abc-news-personal-finance.html



IIRC, you claim your winning at your "home" state, where you have been living prior to the purchase of the ticket. It is to stop people claiming tickets in the states with no income tax.

Damned tax cheats. It was "found" money to start with.

 

[K1052]

Just idle speculation on my part but you generally can't claim anonymously in IL but I know where I can obtain a phalanx of good lawyers. If you layer entities a person might be able to get away quietly. I'd do everything humanly possible not to claim any prize under my name. If it was an absolute requirement I'd pull up stakes for a year, disappear to several foreign countries, and have everything paid for under my husband's name.

 

[NesuD]

I'm going to win it tonight then I will buy a hockey team with some of my ill gotten gains.

 

[disappoint]

taxes? is that why american lottery amounts are so much smaller than the advertised sum? here in the UK the amount advertised is the amount you actually get. no 20 year spread either. you win £160 million then you get £160 million - in 1 lump sum afaik

Your society dislikes being lied to, ours prefers to be lied to. Not everyone obviously, but a lot if not most.