The Powerball and Mega Millions Wanna win it thread

[McLovin]

Yes, but someone would have to pay taxes on those millions. IIRC, you can only - in your lifetime - gift a total of 5.43 million which would avoid being taxed.

income taxes =/= gift and estate taxes

you'll pay 39.6% to the feds on the lump sum payout, then 23.8% on the investment income net of related expenses.

if you then die the same year, you'll pay 40% on the value of your estate that exceed $5.45 million. if you gift that money away to individuals, those gifts are still taxed to your estate at the same rate.

state taxes are on top of all this. freedom is expensive.

 

[Canadan]

Back in play with a number for the wife and five numbers between myself and AMart. So.Much.Money.

 

[SkiBumGolfer]

I'd buy the apartment next to Don from Project X. My goal in life would just be to greet him in the morning with a cup of coffee and be like, "Good morning neighbor."

I think he would have a coronary on the spot just to escape from you.

 

[Smallville]

So your saying after taxes (depending on the state you live in), it could be more like $20 million per year? lol

Just all hypothetical numbers Mav...I'm not a Tax Attorney.

This was posted yesterday. After taxes it would be around $30 million a year in most states. And that was based on $1.3 Brazilian. http://www.kctv5.com/slideshow?widgetid=175757&clienttype=generic

 

[tpluff]

I got my two tickets today. I've never even gotten a number or anything that I can remember. With so many people going on this one, there's gotta be multiple winners.

 

[musicmaster6921]

Put my money in the pot for some tickets today. Have $200 worth fro the office and $40 for myself. Keeping my fingers crossed!

 

[jim54]

I will be a very happy rich person and have more clubs than even Kang!! I would also Sponsor my own big THP Event and give free XXIO Prime full sets to everyone..oh yeah.

 

[Smallville]

I will be a very happy rich person and have more clubs than even Kang!! I would also Sponsor my own big THP Event and give free XXIO Prime full sets to everyone..oh yeah.

MD445 will sign up 25 times! hahaha

 

[Schanker]

Just got my copy of my office pool- 28 people 70 tickets.

 

[T0AD]

All this dreaming, I can't keep up.
Has anyone thought up this one yet?
Find a course as fab as the Hideaway (tho that may be impossible) and put a smallish luxury hotel on some grounds and just have a Hackers Hotel Home-away-from-home Golf Resort.
Fill empty rooms with the public, THPers get a ginormous discount.

 

[Awkward silence]

Just got my copy of my office pool- 28 people 70 tickets.

We have about 30 people and we all bought 2 tickets each. Just in case I got 3 tickets for myself

 

[jim54]

No signups at my Event, all that want to come can have a spot. No after contest sadness. After all I have many, many, millions!! We might have to have it at Pebble and Spyglass so we have the room for all.

MD445 will sign up 25 times! hahaha

 

[greggdrews]

I know I won't win but will still throw a couple of dollars at it. I forget where I read it but even with all of the tickets that were bought for the last drawing only like 75% of the possible number combinations were sold. So that's still 25% chance that no one will win. It's something fun to dream about winning and I still have no clue what my first big purchase would be. Too many options with that much money. I would have a dream "man cave" with about 6-7 cars and a bunch of other toys in it.

 

[jim54]

I heard you had a better chance of getting struck by lightning while drowning during a shark attack, but it is fun to dream anyway. And of course if you don't play you have zero chance....

 

[JohnSinVA]

I was looking at the jackpot signs in the window while filling up the car when it hit me that the powerball jackpot exceeds the mega millions jackpot by two orders of magnitude.


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[Pkielwa]

The Powerball and Mega Millions Wanna win it thread

A common theme in all of those stats: 1.
SomeONE will win it. LIKELY to be me? Nah. But to that ONE person, 1 in 1 won!


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[BigCountryStein]

I would live here: http://residences.hideawaygolfclub.com/idx/photogallery/b041/215035168

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[TeedUpThoughts]

The Powerball and Mega Millions Wanna win it thread

I had a dream about this last night, was totally random but I won and took a private jet to the Dallas event and all I remember is getting back on the plane looking like Jim Carey in Dumb & Dumber with a giant foam cowboy hat and armfuls of stuff from the event. Lol

 

[jim54]

The house is a little small, but real nice neighborhood!!

I would live here: http://residences.hideawaygolfclub.com/idx/photogallery/b041/215035168

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[bogeyme]

I'll be getting my numbers tonight. I might have a 1 in 292M chance, but like has been said someone has to win and if I don't buy any tickets it definitely won't be me.

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[afwcardinal]

Just a weekend retreat. Not sure I could handle it more then that.

The house is a little small, but real nice neighborhood!!

 

[MPlefty]

i wish I could buy some, that amount is ridiculous.

how is the tax amount calculated, is it based on where you live or where your ticket was bought? I'm wondering because there is no tax on lottery winnings here

 

[rtparty]

i wish I could buy some, that amount is ridiculous.

how is the tax amount calculated, is it based on where you live or where your ticket was bought? I'm wondering because there is no tax on lottery winnings here

Federal tax is like 39.6% and then state taxes of where the ticket was bought

 

[MPlefty]

Federal tax is like 39.6% and then state taxes of where the ticket was bought

thanks, now to figure out how to buy some

 

[rtparty]

thanks, now to figure out how to buy some

I had to get creative since Utah doesn't have any gambling. Good thing I have friends in other states