re: Powerball - $510,000,000 - who's in?

Exactly!

Lump sum. I'll take the 180 or so in cash. And I'm pretty sure where you buy the ticket that's where you pay the taxes bot where you live.

<<< this guy

If I won that, I would take the lump sum and a whole lot of judges would find out exactly what I think about them.

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Im buying a McLaren and parking it in the garage of my 156,000 dollar house.

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That's an expensive trailer. Triple wide?

In.gif

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$226,940,000 after taxes


This seems high. What is the lump sum amount? Because you are going to get 60% of that.

Isnt there a 5% lottery tax in Louisiana

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Feds only take out 25% upfront & not the whole 39.6% .


The remainder will be due next April 15 or you can arrange prepay with the IRS.

So you do get a $226 million dollar check from the Lottery ,but end up with about $178 million or so( or whatever 55% or cash value ) after paying remainder of taxes.

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In Louisiana, if you take the lump sum option, you would end up with $226,940,000 after taxes.

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I thought what was printed on the ticket for lump sum was pre-tax.

BTW - It's up to $535 million now.

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Don't think you can do that if you take the yearly pay out.

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That's a very common misconception; if the winner dies before the 30 annual payments, the remainder will go to the winner's heir/estate.

Here's from the PB website.
"What happens to an annuity prize if the winner dies?
If a jackpot winner dies before receiving all annual installments, the balance of the prize will be paid to the winner's estate. Upon receipt of a court order, annual prize payments will continue to be paid to the winner's heirs. Other provisions may also apply depending on the laws of the lottery paying the prize."

I am not a total idiot so I am taking the lump sum every time. I can manage my own money.

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depending on the laws of the lottery paying the prize.

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You don't think those laws can be changed to benefit the state?