The OFFICIAL Powerball and Megamillions thread:

[assyrianplaya]

I looked at the same website that you provided up above usamega.com

The federal tax rate might be 25% for normal crap, but something like the lotto those bastards want to make sure they get the most out it as they can.

Furthermore... as jaysarecrack said it being 35% that they take federally is not true... I looked the payout and it is over 45% they take or tax out of the initial lumpsum... then your state takes their cut at whatever it is.



These F gangster hooligans.

lump sum is not a set number ... it can be 52% all the way up to 70 some odd. (cash on hand at time of winning)

N it is failry simple to get the most out of your money.... dummy llc to get taxed at the minimum.

you get 25% federal, whatever your state tax is, and then dependents and things of that nature. though from there on its 35% due to bracketing. if you get around 158, according to forbes the actual cash payout would be in the 101 range... around 36%. Not too bad considering the insane percentages being thrown out haha

 

[based mod]

Why you guys debating about this when it ain't gonna happen to any one of us?


Playing $20 tonight though.

 

[assyrianplaya]

It's fun to pretend haha. And you never know!

 

[biggie62]

The top federal tax rate is 39.6%. Just for clarification, and if you win you will be paying that plus state.

 

[kickstart]

 

[baby jumpman]

I was always told to take the payments if you win while your younger so you don't blow it all and it last you.

 

[based mod]

I was always told to take the payments if you win while your younger so you don't blow it all and it last you.

This advice would be good for those with addictive personalities and no self-control. Otherwise, take the lump sum and put it into a good fund. +10% compound interest for 20 years on $150mm aint bad.

 

[youngtriz]

I saw on that show where some people took a lump sum, wanted more money she did one of those peachtree things. Where they give you your cash up front and charge you like 30%

 

[jaysrcrak]

The top federal tax rate is 39.6%. Just for clarification, and if you win you will be paying that plus state.

Repped.
Yeah I was wrong about the 35% federal tax rate.
I forgot that in the last fight in Congress they raised the top bracket to 39.6% and greedy *** Uncle Sam will get every dollar they can out of you.
But then again when I win I wont care how much money they take out. I will just look at it like it was never my money to begin with.
Ill still be ballin

 

[imasoleman18]

bought 2 tickets last night

 

[al audi]

uncle sam is greedy

yea yea............well ppl are greedy in general

im taking the lump sum

even after the taxes an all etc

10 mill id be set for life

 

[Lovetohate3000]

uncle sam is greedy

yea yea............well ppl are greedy in general

im taking the lump sum

even after the taxes an all etc

10 mill id be set for life

word...

Ill take the annuity payments though. i figure any lotto winnings they goin to take 40% . id have money to manage every year. im a simple dude with no real addictions, having dough wouldnt change that.

livin that made life.........

 

[al audi]

word...

Ill take the annuity payments though. i figure any lotto winnings they goin to take 40% . id have money to manage every year. im a simple dude with no real addictions, having dough wouldnt change that. 

True would be easier to manage.

Only thing that would change for me is nicer car.....an I'd have like 2 max. Even then would prob be 50k cars with subtle mods. I'd just rent an aventador when I felt like stuntin hard/havin fun.

 

[carver]

Is MM drawing tonight?

 

[primetime21]

Is MM drawing tonight?

Tuesday...........If I win miracle watts will be my baby mama View media item 686559

 

[carver]

Oh ok thanks.. gonna stop and get 5 after work today.

Goodluck fellas

 

[suberzat1]

I going to pick one or two when I leave out for some grub 

 

[al audi]

I just copped, 400 mill.

 

[andoneflip]

Ill play 2 dollars

 

[needemjs1]

The things id do with that money.

 

[buymyshoes]

WHAT... son im playing once i'm done with this class

man if I won this....

the amount of disrespect i would give all my professors would be on another level... except my bio and english though lol some really knowledgable people and I actually learn 

invest in some buildings here in brooklyn... collect rent money every month id be straight

and have my family living like kings and queens 

 

[imasoleman18]

whos ready to win tonight

 

[a blinkin]

Bought three for myself and went in with a few coworkers. Let's see what happens.

 

[andoneflip]

Hope i win

 

[andoneflip]

Damn i never win