The OFFICIAL Powerball and Megamillions thread:

[al audi]

Gotta play again

 

[putting in work]

Nobody hit it?

 

[fresh out dabox]

Nobody hit it?

What are the chances of hitting the mega millions

 

[antidope]

$400M= $200M BEFORE taxes, $170M after FEDERAL TAXES, even less if you have state taxes.
Take the annuity. 9M after Federal taxes- state taxes for the next 30 years= never falling off

Is that really how the math works out?

 

[Bert.]

$400M= $200M BEFORE taxes, $170M after FEDERAL TAXES, even less if you have state taxes.
Take the annuity. 9M after Federal taxes- state taxes for the next 30 years= never falling off

see im confused with taxes

do you get any of that back on taxes??

 

[airblaster503]

Is that really how the math works out?

No.

 

[swendro]

Who cares how much money they take away? Still gonna be left with a **** ton of cash.

 

[waddupdoe]

$400M= $200M BEFORE taxes, $170M after FEDERAL TAXES, even less if you have state taxes.
Take the annuity. 9M after Federal taxes- state taxes for the next 30 years= never falling off

i would be tempted to take that boatload but i think i would do the 30 years thing. i would be scared they stop paying lol

 

[Bert.]

$400M= $200M BEFORE taxes, $170M after FEDERAL TAXES, even less if you have state taxes.

Take the annuity. 9M after Federal taxes- state taxes for the next 30 years= never falling off

i would be tempted to take that boatload but i think i would do the 30 years thing. i would be scared they stop paying lol

they wont stop paying, the lottery wont go away

i wouldnt even know what i would do either. the 30 year payment is smarter but lol

 

[waddupdoe]

they wont stop paying, the lottery wont go away

i wouldnt even know what i would do either. the 30 year payment is smarter but lol

if you take the 30years, how much do u get at first? do u get a large amount then the rest is broken down or u get what u gonna get for the next 30? i wonder do u get it broken down during that yr or is it 9mil see u in 12months lol, cuz if its 9 mil wont they tax that? gotta figure this out just in case

 

[a55a5in11]

The 30 year thing is not the smartest. Just get the lump sum and put it in an account and you could live comfortably off the interest

 

[brinknows]

open a legal trust through a lawyer. take the 30 year payments, make it out to the trust. balling for life

i heard if you take the yearly payments to yourself and die, your family(spouse,kids) lose out on the remaining amount owed to you. any truth to this?

 

[jaysrcrak]

You would get your first installment from the 30 years. That equals out to about 13.3M a year fro 30 years then you would have to pay federal taxes( taxed at the highest income bracket of 35%) which will knock you down to about 9M. Then if you have state tax you will have to pay that too. Then you will have to pay any money that you owe to the government.(Back taxes, child support, student loans, everything you owe) Then you get your money. So your first check will always be the smallest (that is, if you owe anything of course)
What happens is , they take all of the money that was put into the pot from ticket sales from all over the country(which is usually about half of the advertised jackpot) and invest it into U.S. Treasury Security Bonds among others. You are paid from the interest that the bonds produce. This money is guaranteed for the entire 30 years period. The amount increases 4% every year to keep up with inflation.

Here is a breakdown of how much you would get in your state.
http://www.usamega.com/powerball-jackpot.asp

No.

That is absolutely how it breaks down. But just out of curiousity, how do you think it works?

 

[youngtriz]

Give me the lump sum of 200 million.. take my federal tax at 25%... leave me with $150 million... stash $100 million away live off interest.. what's the % in return nowadays?
Jaysrcrak is right.. I have read that **** so many times with my co workers..

 

[al audi]

Who cares how much money they take away? Still gonna be left with a **** ton of cash.

Juuuuuuu heaaaaaard

 

[antbanks81]

PBJackpot $120,890,000.00

tithes $17,300,000.00
savings $25,000,000.00
checking $10,000,000.00
friends $15,000,000.00
H&Y-Capital investment $4,500,000.00
Philanthropy $10,000,000.00
Parents/Sis $10,000,000.00
family $24,000,000.00
Brokerage acct $5,000,000.00
$90,000.00



Savings in 20 years $66,332,442.63

Checking $10,000,000.00
house-Plainfield $500,000.00
downtown condo $1,500,000.00
cars $1,000,000.00


debt $350,000.00
shopping $400,000.00
wifey $1,000,000.00
Second Savings acct $2,000,000.00




checking acct $3,250,000.00

 

[koudie from brooklyn]

all i need is 10 million.. the rest goes to family and friends

 

[antbanks81]

I want these whips and condos in a few select towns

 

[Bert.]

lets me win and see how many NTers get whips

dead srs

been saying it for years id hook people up like crazy. mean it like id be doing it for my own fam

 

[joepac12]

We shud have an nt pool. If that's possible

 

[al audi]

lets me win and see how many NTers get whips

dead srs

been saying it for years id hook people up like crazy. mean it like id be doing it for my own fam

Zyzz you already know.

 

[swendro]

If I win I'm not telling NT. I'll just continue posting like I'm broke.

 

[Bert.]

lets me win and see how many NTers get whips

dead srs

been saying it for years id hook people up like crazy. mean it like id be doing it for my own fam

Zyzz you already know.

 

[antbanks81]

first cars- aventador, wraith, 750, range

yours?

 

[younghollywood]

Trying to see how many of these tickets I should buy if it goes up again