Powerball Up To $500M - Page 4 - TigerDroppings.com

Posted byMessage
LSUTygerFan
LSU Fan
Team Boxtard
Member since Jun 2008
25377 posts
 Online 

re: Powerball Up To $500M


quote:

If you take cash your down to 250 Million


wrong

$327.4 million, per the Powerball site






Back to top
cssamerican
New Orleans Saints Fan
Member since Mar 2011
2236 posts

re: Powerball Up To $500M


quote:

wrong

$327.4 million, per the Powerball site


I wasn't that serious






Back to top
Mid Iowa Tiger
Iowa State Fan
Houston
Member since Feb 2008
1758 posts

re: Powerball Up To $500M


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...







Back to top
Franktowntiger7
LSU Fan
Member since Dec 2010
1806 posts

re: Powerball Up To $500M


Your take home in Louisiana after the cash option and all taxes is $229M
LINK






Back to top
MeridianDog
Mississippi St. Fan
Home on the range
Member since Nov 2010
4637 posts

re: Powerball Up To $500M


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.







Back to top
bbrownso
LSU Fan
Member since Mar 2008
2644 posts

re: Powerball Up To $500M


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.






Back to top
CreoleGumbo
LSU Fan
Faubourg Bayou St. John
Member since Sep 2003
1628 posts

re: Powerball Up To $500M


would ya'll stop with the reality talk...more strippers, coke, and G5s!





Back to top
Mid Iowa Tiger
Iowa State Fan
Houston
Member since Feb 2008
1758 posts

re: Powerball Up To $500M


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.






Back to top
Jwodie
LSU Fan
New Orleans
Member since Sep 2009
5628 posts

re: Powerball Up To $500M


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."






Back to top
TigerPanzer
LSU Fan
Orlando
Member since Sep 2006
6733 posts
 Online 

re: Powerball Up To $500M


quote:

Claim it anonymously

I'm setting up an LLC to transfer the money to. That will protect my identity.






Back to top
TopWaterTiger
LSU Fan
Lake Charles, LA
Member since May 2006
6112 posts

re: Powerball Up To $500M


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.






Back to top
Jwodie
LSU Fan
New Orleans
Member since Sep 2009
5628 posts

re: Powerball Up To $500M


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.






Back to top
dreaux
LSU Fan
baton rouge
Member since Oct 2006
37029 posts

re: Powerball Up To $500M


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.






Back to top
Me Bite
LSU Fan
A.K.A. - Bite Me
Member since Oct 2007
6585 posts

re: Powerball Up To $500M


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.





Back to top
JLSIX
New Orleans Saints Fan
Member since Apr 2010
23154 posts

re: Powerball Up To $500M


quote:

I'd spend 1/3 on booze, 1/3 at the casinos and the rest I'd just waste.....






Back to top
Ortho Reb
Ole Miss Fan
New Orleans, LA
Member since Dec 2011
8972 posts

re: Powerball Up To $500M


quote:

First you cough up half to uncle sam, thats a start.


I'd only have about $240 million left?







Back to top
au21tigers
Clemson Fan
GO BARVES
Member since Nov 2009
10478 posts

re: Powerball Up To $500M


Going after i get off work! Crowd should have already left bye then.





Back to top
Cecil D Diesel
USA Fan
Shaolin
Member since Mar 2011
8955 posts

re: Powerball Up To $500M


When is the drawing?





Back to top
pivey14
USA Fan
Starkville, MS
Member since Mar 2012
11211 posts

re: Powerball Up To $500M


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






Back to top
au21tigers
Clemson Fan
GO BARVES
Member since Nov 2009
10478 posts

re: Powerball Up To $500M


Wednesday







Back to top


Back to top




//