You last visited May 24, 2013, 1:41 pm All times shown are
Eastern Time (GMT-5:00) | $540 MILLION: Mega Millions buying frenzy sparks another jackpot increaseNew Member
United States Member #125555 March 29, 2012 35 Posts Offline | | Posted: March 29, 2012, 6:23 pm - IP Logged | |
Anyone know what the tax rate is on giving the gift of $$ over the allowable amount? I believe it is right at 50% that the giver must pay if not donating to a non-profit/501C. | | |
United States
Member #125552
March 29, 2012
2 Posts
Offline
| | Posted: March 29, 2012, 6:26 pm - IP Logged | |
Sorry people this one is coming to Michigan. I will be the sole winner and when I win, I will get so stoned before I go up to the press conference that they will refuse to put me on. Thats what they get for making it a law in Michigan that you must give the press conference. And after they boot me out the press conference, like the guy said the other day....first order of business will be to go have sex with three chicks at the same time. I will be  the pootang | | |
Florida United States Member #78340 August 1, 2009 2497 Posts Offline | | Posted: March 29, 2012, 6:26 pm - IP Logged | |
Update: Back from Georgia safe and sound with the winning ticket. Once I crossed the state line I spotted the Mega Millions billboard I got so excited. I went to several stores and there were no lines anywhere. I bought a mix of my own picks and quick picks with advance play for Friday and Tuesday in case it rolls again. I can see the headline already Florida resident hijacks the jackpot or something more catchy like Florida Resident made off with money like Bernie. LOL. Good luck everyone. Boycott MUSL and support your state lottery! | | |
Indiana United States Member #122879 February 9, 2012 310 Posts Offline | | Posted: March 29, 2012, 6:26 pm - IP Logged | |
u guys are crazy talking that trust fund stuff and saving money listen yu guys including myself prob wont make close to that in your life time so skip me its a half billion dollars n not one person said take care of their family or give some to charity, if i win my whole family eating... we all go cutt the cake like newlyweds I used to teach in the inner city. Let me try and translate this. LOL All of you are crazy for talking about trust funds and saving your money. I don't know what a trust fund is and I have never had any money to save. All of you, including myself, will probably never earn that kind of money in our life time. Well, I might because I plan on becoming the next Frank White. With the jackpot at a half a billion dollars, I can't believe none of you said you would take care of your family or help support a charity. If I win my whole family will have enough money to do whatever they want. After we share the money, I am going to have sex with my mother like it was our honeymoon and then I will marry my sister like a good southern boy should. I almost peed a little while reading that... Such an amazing translation!!! the inner city did a great job learning you ;-) Lmao I wish I may, I wish I might...
Win the Powerball jackpot Saturday night!!! | | |
United States Member #4963 May 30, 2004 3871 Posts Offline | | Posted: March 29, 2012, 6:26 pm - IP Logged | |
Anyone know what the tax rate is on giving the gift of $$ over the allowable amount? MW: alway's ask UR accountant a ???? like this, but go 2 the site USA MEGA.com & I think they break down D info about what U get>>>>based on D state U live in!! LOL 
| | |
Windermere, FL/Franklin, TN United States Member #50670 March 1, 2007 488 Posts Offline | | Posted: March 29, 2012, 6:30 pm - IP Logged | |
JL: if we end up @ that place<<<<<<<4<<<dindin again, that means we R still "BROKE" >>>>>still "HUNGRY">>& lost<<<this JAM JACKPOT AGAIN $$$ money love HURT'$$ 
Don't people go there on special occasions?  | | |
Ohio United States Member #120769 December 27, 2011 190 Posts Offline | | Posted: March 29, 2012, 6:33 pm - IP Logged | |
Hey. I was cooerced into joining the office pool last draw, and ditto this draw. I didn't want to be the only person showing up for work after winning. 
Off topic here, but like your 'Friday Night Lights' signature. Great, great show. Catching up on it through Netflix. | | |
egg harbor twp.south jersey shore United States Member #112990 June 29, 2011 2521 Posts Offline | | Posted: March 29, 2012, 6:37 pm - IP Logged | |
This is one of the times I'm glad I live in the sticks, we don't even have lines here. From what someone posted about the frenzy on the Nevada - California border Nevada should really rethink their no lottery policy. I'm trying to make sure more than opne person wins, played a ticket today and played the same numbers for the clerk (which will probably go over like a lead balloon here but what the heck). That insuires you have someone rooting for the same numbers. 
Yo CT,since you're a casino dealer i'll just call that ticket a "toke" Extraordinary Popular Delusions & the Madness of Crowds -- Charles Mackay LL.D. | | |
Windermere, FL/Franklin, TN United States Member #50670 March 1, 2007 488 Posts Offline | | Posted: March 29, 2012, 6:38 pm - IP Logged | |
Anyone know what the tax rate is on giving the gift of $$ over the allowable amount? For 2010-2012 the max gift tax rate is $5mil and 35%. In 2009 it was $3.5mil and either 45-55%. Before 2001 prior to the Bush tax cut it was 675K .You are allowed to gift $13k per year or 26k as a married couple. For 2013, it may revert back to 1Mil and at least 45% on anything over. | | |
United States Member #124626 March 16, 2012 1423 Posts Offline | | Posted: March 29, 2012, 6:39 pm - IP Logged | |
CollegeLad again....Not too surprised to see the JP increase but nevertheless it's shocking to see a prize amount of 540,000,000 on my QP's I just bought. Im glad I kept all my MM tickets frm web the JP was at 170 million. We've kinda got A part of history to see the first half a billion+ JP. I highly doubt this will roll do to the staggering number of tickets sold. And I also highly doubt it will b just one winner. But Doubts are wrong. Sweetie - you don't have to identify yourself each time you post. Your name is to the left of your post so we all know its you. | | |
MI United States Member #55299 August 31, 2007 939 Posts Offline | | Posted: March 29, 2012, 6:43 pm - IP Logged | |
This is almost destined to be at least 600M before it's said and done. 
Like always, I'd be going with the cash... Beating the annuity would not be hard nor all that risky... Plus I don't want to be the mercy of a state that I won't be living in and federal government to pay me over the next two and a half decades, I might not even live that long, hell our country might not either.  You can't predict random. | | |
United States Member #122703 February 6, 2012 202 Posts Offline | | Posted: March 29, 2012, 6:45 pm - IP Logged | |
Three quarters in cash and the other quarter left in the annuity, that way I will never be broke no matter what happens. | | |
Washington State United States Member #34373 February 26, 2006 333 Posts Offline | | Posted: March 29, 2012, 6:49 pm - IP Logged | |
Three quarters in cash and the other quarter left in the annuity, that way I will never be broke no matter what happens. Sorry, it is one or the other. You can't have it both ways. At least not in most states. You could buy your own annuity with part of the cash, of course, if you really wanted to do that. | | |
United States Member #122703 February 6, 2012 202 Posts Offline | | Posted: March 29, 2012, 6:53 pm - IP Logged | |
Sorry, it is one or the other. You can't have it both ways. At least not in most states. You could buy your own annuity with part of the cash, of course, if you really wanted to do that. There was a guy on one of those Lottery Made Me Rich shows that said he did that so I am pretty sure it is possible. If I recall he won maybe close to $200 million also so it was either a Mega Millions or Powerball jackpot. The Mega Millions is not a state run lottery so I don't think they would have to adhere to the regulations of a particular state anyway. | | |
egg harbor twp.south jersey shore United States Member #112990 June 29, 2011 2521 Posts Offline | | Posted: March 29, 2012, 6:55 pm - IP Logged | |
Sorry, it is one or the other. You can't have it both ways. At least not in most states. You could buy your own annuity with part of the cash, of course, if you really wanted to do that. take it all in cash, then buy you own annuities, if you're so inclined, me ? i'd split in up, short and long term. no j.g. wentworth here, even if i think the tv ads are funny. Extraordinary Popular Delusions & the Madness of Crowds -- Charles Mackay LL.D. | | |
|