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Message

re: Powerball-$334 million

Posted on 1/2/16 at 11:51 pm to
Posted by tduecen
Member since Nov 2006
161244 posts
Posted on 1/2/16 at 11:51 pm to
cocaine on me tonight fellas
Posted by wallowinit
Louisiana
Member since Dec 2006
15030 posts
Posted on 1/3/16 at 1:17 am to
It varies by state because of the various states treatment of lottery winnings income but the Feds only take 25% so you keep much more than you think. LINK
Posted by wallowinit
Louisiana
Member since Dec 2006
15030 posts
Posted on 1/3/16 at 1:20 am to
quote:

quote:
You're right



I know.

You're wrong according to this. LINK
Posted by X123F45
Member since Apr 2015
27626 posts
Posted on 1/3/16 at 3:04 am to
I'd get a hall dedicated to me at lsu.

Buy myself a doctorate.

A fleet of used vehicles.

Pay off all bills.

Buy a camp in southwest la.

Buy my buddy's home in New Orleans.

Start traveling and writing again.

Land investments all around me.
Posted by PrideofTheSEC
Baton Rouge
Member since Apr 2012
5008 posts
Posted on 1/3/16 at 3:47 am to
1. Buy Saints, Pelicans, and LSU season tickets
2. Donations: TAF, LSU, high school,fraternity, give several million to parents, and split 1 million between a few of my best friends.
3. Join a golf club
4. Buy me and my fiance 2 new vehicles.
5. Buy a house and a beach house/condo
6. Invest
7. Travel
Posted by Red Stick Tigress
Tiger Stadium
Member since Nov 2005
17907 posts
Posted on 1/3/16 at 4:13 am to
No one won.

It will be $400M on Weds.
Posted by tigerbutt
Deep South
Member since Jun 2006
24671 posts
Posted on 1/3/16 at 8:17 am to
Whew glad I didn't buy a ticket. I'll have to break down and buy one now.
Posted by OMLandshark
Member since Apr 2009
110188 posts
Posted on 1/3/16 at 8:18 am to
Had some idiot literally buy 50 of them in front of me at a gas station. Not a bright guy.
Posted by djangochained
Gardere
Member since Jul 2013
19054 posts
Posted on 1/3/16 at 8:39 am to
He's not bright because he has money to spend on lottery?

Sorry you are poor
Posted by OMLandshark
Member since Apr 2009
110188 posts
Posted on 1/3/16 at 8:48 am to
quote:

He's not bright because he has money to spend on lottery?

Sorry you are poor


It's a hell of a lot better investment to put that $100 on black 20 times in a row and see if he could become a millionaire.
Posted by TechDawg2007
Bawville
Member since Nov 2007
32249 posts
Posted on 1/3/16 at 8:58 am to
So if you won $400 million power all what would the cash take home pay be after taxes?
Posted by SippyCup
Gulf Coast
Member since Sep 2008
6164 posts
Posted on 1/3/16 at 8:59 am to
I was buying 50 tickets at the store and some idiot behind me kept making comments about the poor tax.

All my employees pool their money together and I went and bought their tickets. I threw in an extra $14 to make it 50 tickets.

I laugh at the people who will make comments about it being the stupid/poor tax but won't think twice about buying their carton of cigarettes, cans of dip and cases of alcohol.

Posted by danilo
Member since Nov 2008
20544 posts
Posted on 1/3/16 at 9:02 am to
Gold truck nuts
Posted by Godfather1
What WAS St George, Louisiana
Member since Oct 2006
80395 posts
Posted on 1/3/16 at 9:12 am to
quote:

Had some idiot literally buy 50 of them in front of me at a gas station. Not a bright


Can't win if you don't play.
Posted by ell_13
Member since Apr 2013
85337 posts
Posted on 1/3/16 at 9:27 am to
If you put $100 on black and won 20 times in a row that would be over $100M. You would only need to leave it there for 14 spins to get to over $1M.
Posted by djangochained
Gardere
Member since Jul 2013
19054 posts
Posted on 1/3/16 at 9:56 am to
You should hang out at a gas station and give investment advice
Posted by tokenasian37
Member since Aug 2007
943 posts
Posted on 1/3/16 at 10:25 am to
quote:

You're wrong according to this. LINK


Don't be surprise when the IRS skims a lot more off the Jackpot. PB takes an automatic 25% off the bat for federal, but because you've just won the jackpot, it puts you in the top tax bracket($413,201 for a single or $464,850) which they'll get an extra 10-14.6%.

Read the important notes at the bottom of that link.
#2. All of the tax amounts listed above are the taxes withheld at the time of the prize award, not your exact final tax burden.

ETA: I'm no tax advisor, but I did stay at a Holiday Inn once.
This post was edited on 1/3/16 at 10:26 am
Posted by wallowinit
Louisiana
Member since Dec 2006
15030 posts
Posted on 1/3/16 at 10:27 am to
Once more....open the link. It depends where you live.
Go ahead. Open this LINK!
Posted by wallowinit
Louisiana
Member since Dec 2006
15030 posts
Posted on 1/3/16 at 10:31 am to
That is why you get a tax advisor before you accept your prize.
Posted by Peazey
Metry
Member since Apr 2012
25418 posts
Posted on 1/3/16 at 10:34 am to
Buying 1 ticket as a chance to just be a part of it is one thing. Buying a bunch of tickets thinking that you are actually greatly increasing your odds of winning is another.
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