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Eastern Time (GMT-5:00) | Home -> Forums -> Lottery News -> Mega Millions, Powerball lottery ticket cross-sales begins today Mega Millions, Powerball lottery ticket cross-sales begins todayPrevious TopicNext TopicMiami United States Member #63284 July 9, 2008 646 Posts Offline | | Posted: February 1, 2010, 10:26 pm - IP Logged | |
I started this site because I wanted to do something I loved. Why would I close it if I won a jackpot? I might have to run it from an island though...  (Just gotta make sure it has a fast Internet connection!) God man! "...a chance to push everything aside, the circumstances that've controlled our lives, and do it our way now. Good, bad or otherwise. You'll maybe get lost in it, tied up in it a little bit, but if you work your way through that the real you shows up, I think. Maybe what's at your core deep down, maybe that comes out. Maybe that's what it's about." Mike Pace | | |
Indiana United States Member #49185 January 7, 2007 1770 Posts Offline | | Posted: February 1, 2010, 10:56 pm - IP Logged | |
I'm gonna win Powerball Wednesday! Woohoo! I can't wait! Gonna win. | | |
PA United States Member #66644 October 16, 2008 818 Posts Online | | Posted: February 1, 2010, 11:29 pm - IP Logged | |
I'm gonna win Powerball Wednesday! Woohoo! I can't wait! Sorry, I think it is my turn ! I hope all of the winners need it as much as I do .... but that is really none of my business ! My only hobby is playing PB ... and now MM ... I only spend $1 ... so good luck to all ! 
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Miami United States Member #63284 July 9, 2008 646 Posts Offline | | Posted: February 1, 2010, 11:30 pm - IP Logged | |
I meant "GOOD man!" "...a chance to push everything aside, the circumstances that've controlled our lives, and do it our way now. Good, bad or otherwise. You'll maybe get lost in it, tied up in it a little bit, but if you work your way through that the real you shows up, I think. Maybe what's at your core deep down, maybe that comes out. Maybe that's what it's about." Mike Pace | | |
Vancouver, WA United States Member #54144 July 15, 2007 134 Posts Offline | | Posted: February 2, 2010, 2:06 am - IP Logged | |
Well, I got the answer to my question this evening on how will the state know where the ticket was bought. I bought my first Powerball ticket in Washington this evening and right there at the top was the words - "Washington Lottery" I guess that takes all the guesswork out of the equation. HAHA | | |
United States Member #15415 May 10, 2005 369 Posts Offline | | Posted: February 2, 2010, 3:24 am - IP Logged | |
I started this site because I wanted to do something I loved. Why would I close it if I won a jackpot? I might have to run it from an island though... (Just gotta make sure it has a fast Internet connection!) Good luck Todd! I look forward to the annual Lottery Post bbq for jackpot winners on your island  | | |
Massachusetts United States Member #37842 April 14, 2006 368 Posts Offline | | Posted: February 2, 2010, 3:53 pm - IP Logged | |
It felt unreal asking for a powerball ticket just blocks away from my home. I asked the guy for a powerball ticket with powerplay and the guy printed out one without powerplay. So me being the easy going guy just said it was ok and to just give me another ticket obviously without powerplay. We'll see how it goes, won't we? | | |
United States Member #26687 November 16, 2005 302 Posts Offline | | Posted: February 2, 2010, 3:57 pm - IP Logged | |
I started this site because I wanted to do something I loved. Why would I close it if I won a jackpot? I might have to run it from an island though... (Just gotta make sure it has a fast Internet connection!) Doesn't sound like a bad life...LOL Get up to sun..sand...gorgeous women........grab your laptop go out to the beach or pool to sunbathe. Get a tropical drink and log on to LP to see whats going on.....Maybe a nice LP Webcam to see what's going on..... Sounds like a pretty nice dream CHEERS!!  Might have to put it on hold I think this jackpot has my name on it!! LMAO! | | |
Any town, USA United States Member #47182 September 25, 2006 112 Posts Offline | | Posted: February 2, 2010, 4:00 pm - IP Logged | |
It felt unreal asking for a powerball ticket just blocks away from my home. I asked the guy for a powerball ticket with powerplay and the guy printed out one without powerplay. So me being the easy going guy just said it was ok and to just give me another ticket obviously without powerplay. We'll see how it goes, won't we? The same thing happened to me today. I asked for one Powerball ticket with powerplay, she gave me one WITHOUT powerplay, and then asked me if I wanted a Sweet Millions ticket?  I just ended up taking the ticket. I am debating if I should use a playslip to play the same numbers, or just get a new ticket, using a playslip of course, with powerplay? | | |
New Member
United States Member #86344 February 2, 2010 4 Posts Offline | | Posted: February 2, 2010, 5:08 pm - IP Logged | |
I have a strange, well for me it is, question. Since Washington has just started allowing Powerball which has been only available in Oregon, how will the states be able to tell where there tickets were purchased? Oregon has 8% tax while Washington has no tax. I see a lot of folks rushing off to Washington who normally buy in Oregon to try and bypass the taxes. Does anyone have opinion/insight about this? You pay state tax to your resident state minus the state tax where you won. For example, if you won in Washington with a 0% rate, and you are a resident of Oregon, you'd have to pay 8% to Oregon. If you won in Maryland (7.5% state and local tax for non-resident), you'd pay 7.5% to Maryland and 0.5% to Oregon. People who cross the border to avoid taxes aren't informed. I built a complete financial model and related analysis for Mega Millions and Powerball jackpots, complete with variance analysis and yearly income based on risk levels of assets. You don't need a money manager if you know a little about stocks and bonds (I'm a finance MBA, so the first thing I'd recommend a winner to do is go back to school and learn about finance, or just ask a guy like me). You can pretty much assure yourself a 5% yield on a low risk portfolio. However you would be subject to state and local tax because a Municipal Portfolio at this size would be too large to have in one state, even California. Municipal Portfolio interest is shielded from Federal Tax (with few exceptions) and State/Local Tax if the Municipal Bond is owned in the same state as residency. Just some intro to Lottery Winning Investments for those of you who win big. Also, despite what USAMega may have on their analysis, you will always pay the top tax bracket on winnings over $500,000. 25% is the initial withholding required by law, in the event you'll donate all but $250,000 to charity. Currently, the top tax bracket is 35%, so win this year, because 2011 tax is estimated to be 39.6%. Annuities are Worthless. Always take the Cash. | | |
Chief Bottle Washer New Jersey United States Member #1 May 31, 2000 19729 Posts Online | | Posted: February 2, 2010, 5:11 pm - IP Logged | |
You pay state tax to your resident state minus the state tax where you won. For example, if you won in Washington with a 0% rate, and you are a resident of Oregon, you'd have to pay 8% to Oregon. If you won in Maryland (7.5% state and local tax for non-resident), you'd pay 7.5% to Maryland and 0.5% to Oregon. People who cross the border to avoid taxes aren't informed. I built a complete financial model and related analysis for Mega Millions and Powerball jackpots, complete with variance analysis and yearly income based on risk levels of assets. You don't need a money manager if you know a little about stocks and bonds (I'm a finance MBA, so the first thing I'd recommend a winner to do is go back to school and learn about finance, or just ask a guy like me). You can pretty much assure yourself a 5% yield on a low risk portfolio. However you would be subject to state and local tax because a Municipal Portfolio at this size would be too large to have in one state, even California. Municipal Portfolio interest is shielded from Federal Tax (with few exceptions) and State/Local Tax if the Municipal Bond is owned in the same state as residency. Just some intro to Lottery Winning Investments for those of you who win big. Also, despite what USAMega may have on their analysis, you will always pay the top tax bracket on winnings over $500,000. 25% is the initial withholding required by law, in the event you'll donate all but $250,000 to charity. Currently, the top tax bracket is 35%, so win this year, because 2011 tax is estimated to be 39.6%. Annuities are Worthless. Always take the Cash. You obviously have a strong opinion. You are not correct about always paying the top rate on anything over $500,000. Flat wrong. Maybe YOU would, but not everyone. Annuities are not worthless. That is your opinion. As Chuck Strutt has said before, you MIGHT be able to get the kind of return that Powerball can give in you in their annuity, but probably not. | | |
nashville nc United States Member #82463 November 2, 2009 652 Posts Offline | | Posted: February 2, 2010, 5:15 pm - IP Logged | |
mookyb75 winner from nc wins first mega million 12 million dollars i hope this is true lol....  at first you don't suceed brush yourself off and try again
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New Member
United States Member #86344 February 2, 2010 4 Posts Offline | | Posted: February 2, 2010, 5:26 pm - IP Logged | |
How would it not be true? Unless you gave it all away, your income is officially over the top tax bracket. You can't get below ~$356k which is the cutoff for 35% in any state and local tax, even SF or NYC. Unless you have extraordinary deductions like some house you're paying out the ass in real estate taxes, itemized deductions can hardly get you there. Even so, for people who win the minimum jackpot (Mega Millions $7M cash option), I doubt you can pull off enough deductions to get your AGI below ~$356k. So I guess I can rephrase and say if you win the jackpot, you might as well plan to pay at the top tax bracket. I hardly see any scenario where you could avoid that (without pulling a Geithner) | | |
Any town, USA United States Member #47182 September 25, 2006 112 Posts Offline | | Posted: February 2, 2010, 5:30 pm - IP Logged | |
How would it not be true? Unless you gave it all away, your income is officially over the top tax bracket. You can't get below ~$356k which is the cutoff for 35% in any state and local tax, even SF or NYC. Unless you have extraordinary deductions like some house you're paying out the ass in real estate taxes, itemized deductions can hardly get you there. Even so, for people who win the minimum jackpot (Mega Millions $7M cash option), I doubt you can pull off enough deductions to get your AGI below ~$356k. So I guess I can rephrase and say if you win the jackpot, you might as well plan to pay at the top tax bracket. I hardly see any scenario where you could avoid that (without pulling a Geithner)  | | |
Indiana United States Member #49185 January 7, 2007 1770 Posts Offline | | Posted: February 2, 2010, 5:36 pm - IP Logged | |
Powerball's jackpot has been updated to $115,000,000! I told you! Hahahaha! Thanks for your dollar everyone! I'm gonna win! Yeehaw! Gonna win. | | |
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