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LSUTygerFan 
LSU Fan
Team Boxtard
Member since Jun 2008
20896 posts
| re: Powerball Up To $500M (Posted on 11/27/12 at 2:17 pm to cssamerican)
quote:
If you take cash your down to 250 Million
wrong
$327.4 million, per the Powerball site
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cssamerican 
New Orleans Saints Fan
Member since Mar 2011
1771 posts
| re: Powerball Up To $500M (Posted on 11/27/12 at 2:21 pm to LSUTygerFan)
quote:
wrong
$327.4 million, per the Powerball site
I wasn't that serious 
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Mid Iowa Tiger 
Iowa State Fan
Houston
Member since Feb 2008
1180 posts
| re: Powerball Up To $500M (Posted on 11/27/12 at 2:53 pm to LSUTygerFan)
quote:
$327.4 million, per the Powerball site
Right now federal taxes eat 35% (top marginal rate)that leaves $212.8 million pre-state taxes. Lucky I am in Texas so I will bank the 212.8.
There is a ranch in Colorado I have been eyeing that I would own before Christmas - that's $25 mill; at least 10% to a charitable trust for long term giving. Set aside around $20 million for me to play with in the market and put the rest into tax free bonds and try to draw 3.5% after taxes and live off the $7 million or so a year.
Not that I have been giving it much thought...
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Franktowntiger7
LSU Fan
Member since Dec 2010
1637 posts
| re: Powerball Up To $500M (Posted on 11/27/12 at 2:54 pm to cssamerican)
Your take home in Louisiana after the cash option and all taxes is $229M
LINK
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MeridianDog 
Mississippi St. Fan
Home on the range
Member since Nov 2010
2499 posts
| re: Powerball Up To $500M (Posted on 11/27/12 at 3:05 pm to Franktowntiger7)
First things first:
A 2 pound bag of peanut M&Ms just for me.
Then Sonic for dinner - Brown Bag #2 (no cheese, No onions, no mayo + mustard) with large Tater Tots and medium Diet Dr. Pepper.
Maybe two Red Box Movies that night.
Ah the good life.
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bbrownso
LSU Fan
Member since Mar 2008
1962 posts
| re: Powerball Up To $500M (Posted on 11/27/12 at 3:13 pm to Franktowntiger7)
quote:
Your take home in Louisiana after the cash option and all taxes is $229M
You have to pay state and federal taxes. Federal taxes are 35% plus the state taxes of 5% equal 40% of the 327.4 million gone. So 327.4 X .6 = 196.44 million after taxes.
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CreoleGumbo
LSU Fan
Faubourg Bayou St. John
Member since Sep 2003
1582 posts
| re: Powerball Up To $500M (Posted on 11/27/12 at 3:16 pm to bbrownso)
would ya'll stop with the reality talk...more strippers, coke, and G5s!
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Mid Iowa Tiger
Iowa State Fan
Houston
Member since Feb 2008
1180 posts
| re: Powerball Up To $500M (Posted on 11/27/12 at 3:16 pm to bbrownso)
quote:
Your take home in Louisiana after the cash option and all taxes is $229M
quote:
You have to pay state and federal taxes. Federal taxes are 35% plus the state taxes of 5% equal 40% of the 327.4 million gone. So 327.4 X .6 = 196.44 million after taxes.
The site linked correctly shows the rate at 25% withheld. The remaining 10% (to get to the 35% marginal rate) is not automatically withheld. But plan on a BIG tax bill for 2012 for the remainder.
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Jwodie
LSU Fan
New Orleans
Member since Sep 2009
4034 posts
| re: Powerball Up To $500M (Posted on 11/27/12 at 3:27 pm to Dupont3)
quote:
Buy a huge tract of land. Build a motocross track on it.
Report: "A (insert city) man and former Powerball jackpot winner died today after being impaled by his own dirtbike. Next of kin rejoiced when hearing the news."
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TigerPanzer
LSU Fan
Orlando
Member since Sep 2006
5616 posts
| re: Powerball Up To $500M (Posted on 11/27/12 at 3:32 pm to AngryBeavers)
quote:
Claim it anonymously
I'm setting up an LLC to transfer the money to. That will protect my identity.
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TopWaterTiger
LSU Fan
Lake Charles, LA
Member since May 2006
5647 posts
| re: Powerball Up To $500M (Posted on 11/27/12 at 3:37 pm to Mid Iowa Tiger)
quote:
There is a ranch in Colorado I have been eyeing that I would own before Christmas - that's $25 mill; at least 10% to a charitable trust for long term giving. Set aside around $20 million for me to play with in the market and put the rest into tax free bonds and try to draw 3.5% after taxes and live off the $7 million or so a year. Not that I have been giving it much thought...
 nice. I'd do about the same.
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Jwodie
LSU Fan
New Orleans
Member since Sep 2009
4034 posts
| re: Powerball Up To $500M (Posted on 11/27/12 at 3:37 pm to TigerPanzer)
quote:
I'm setting up an LLC to transfer the money to.
Best $75 you'll ever spend. Just don't take my name - Like a Boss, LLC d/b/a LAFB.
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dreaux
LSU Fan
baton rouge
Member since Oct 2006
31980 posts
| re: Powerball Up To $500M (Posted on 11/27/12 at 3:40 pm to Franktowntiger7)
If I won the lottery, I would be dead in a week. The things I would do......
I have been of drugs for over 5 years fwiw.
So it's a good thing that I will never win the lottery.
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Me Bite
LSU Fan
A.K.A. - Bite Me
Member since Oct 2007
5908 posts
 Online
| re: Powerball Up To $500M (Posted on 11/27/12 at 4:02 pm to Franktowntiger7)
I'd buy Tigerdroppings.com, change Chickens user name, ban poster I don't like and run the motherfricking O-T from my yacht docked at my own private island in the Caribbean. 
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JLSIX
New Orleans Saints Fan
New Orleans, LA
Member since Apr 2010
15739 posts
| re: Powerball Up To $500M (Posted on 11/27/12 at 4:08 pm to LSURussian)
quote:
I'd spend 1/3 on booze, 1/3 at the casinos and the rest I'd just waste.....
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Ortho Reb 
Ole Miss Fan
New Orleans, LA
Member since Dec 2011
7564 posts
| re: Powerball Up To $500M (Posted on 11/27/12 at 4:13 pm to barry)
quote:
First you cough up half to uncle sam, thats a start.
I'd only have about $240 million left?
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au21tigers 
Auburn Fan
Huntsville
Member since Nov 2009
4116 posts
| re: Powerball Up To $500M (Posted on 11/27/12 at 4:15 pm to Franktowntiger7)
Going after i get off work! Crowd should have already left bye then.
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Cecil D Diesel 
USA Fan
Shaolin
Member since Mar 2011
8542 posts
| re: Powerball Up To $500M (Posted on 11/27/12 at 4:22 pm to au21tigers)
When is the drawing?
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pivey14
Mississippi St. Fan
Team Trashy Crab
Member since Mar 2012
6164 posts
| re: Powerball Up To $500M (Posted on 11/27/12 at 4:23 pm to 337tigergirl)
quote:
First- get a lawyer
Second- set up trusts for my entire immediate family
Third- quit my job inconspicuously
Fourth- take off to a exotic beach vacation. Party with family and friends for a couple months.
Buy everything I want, take the money and try to make more money with it. Retire early and do charity work around the world
Exactly
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au21tigers
Auburn Fan
Huntsville
Member since Nov 2009
4116 posts
| re: Powerball Up To $500M (Posted on 11/27/12 at 4:25 pm to Cecil D Diesel)
Wednesday
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