Powerball Up To $500M | Page 4 | TigerDroppings.com
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LSUTygerFan
LSU Fan
Homerun Village
Member since Jun 2008
30588 posts

re: Powerball Up To $500M

quote:

If you take cash your down to 250 Million


wrong

$327.4 million, per the Powerball site


cssamerican
New Orleans Saints Fan
Member since Mar 2011
2422 posts

re: Powerball Up To $500M
quote:

wrong

$327.4 million, per the Powerball site


I wasn't that serious


Mid Iowa Tiger
Iowa State Fan
Houston
Member since Feb 2008
1989 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...



Franktowntiger7
LSU Fan
Member since Dec 2010
1915 posts

re: Powerball Up To $500M
Your take home in Louisiana after the cash option and all taxes is $229M
LINK


MeridianDog
Mississippi St. Fan
Home on the range
Member since Nov 2010
5803 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.



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bbrownso
LSU Fan
Member since Mar 2008
2956 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.


CreoleGumbo
LSU Fan
Faubourg Bayou St. John
Member since Sep 2003
1700 posts

re: Powerball Up To $500M
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
1989 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.


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Jwodie
LSU Fan
New Orleans
Member since Sep 2009
5740 posts
Online

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."


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TigerPanzer
LSU Fan
Orlando
Member since Sep 2006
8371 posts

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.


TopWaterTiger
LSU Fan
Lake Charles, LA
Member since May 2006
6304 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.


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Jwodie
LSU Fan
New Orleans
Member since Sep 2009
5740 posts
Online

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.


Replies (0)
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dreaux
LSU Fan
baton rouge
Member since Oct 2006
38648 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.


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Me Bite
LSU Fan
A.K.A. - Bite Me
Member since Oct 2007
6649 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.


John McClane
New Orleans Saints Fan
Member since Apr 2010
27328 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.....


Replies (0)
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Ortho Reb
Ole Miss Fan
New Orleans, LA
Member since Dec 2011
9463 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?



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au21tigers
Auburn Fan
Thursday
Member since Nov 2009
12503 posts

re: Powerball Up To $500M
Going after i get off work! Crowd should have already left bye then.


Cecil D Diesel
USA Fan
Shaolin
Member since Mar 2011
8989 posts

re: Powerball Up To $500M
When is the drawing?


pivey14
Mississippi St. Fan
In Your Head
Member since Mar 2012
13995 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


Replies (0)
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au21tigers
Auburn Fan
Thursday
Member since Nov 2009
12503 posts

re: Powerball Up To $500M
Wednesday



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