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Retired Illinois couple share $656M lottery jackpot

Topic closed. 78 replies. Last post 5 years ago by sully16.

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dpoly1's avatar - driver
PA
United States
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October 16, 2008
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Posted: April 18, 2012, 5:20 pm - IP Logged

I am glad that they didn't buy $10,000 worth of tickets like that football player and they still won.

I am glad that they bought quick pics and still won.

I am glad thay they didn't play in a lotto group and still won.

One ticket is all you need. Thats the minimum requirement folks. Sswwweeeet!

I Agree!     Thumbs Up     Patriot

dpoly1 - Playing the lottery to save the jobs of those that build, transport, sell & maintain luxury items! -

 

Eschew Poverty ........... Vote Conservative!

    HaveABall's avatar - rocket

    United States
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    March 18, 2009
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    Posted: April 18, 2012, 5:20 pm - IP Logged

    "After taxes on a lump-sum payment of $218.6 million, the Butlers will take home $158 million"

     

    Actually the lump-sum cash payment is $158 million and the take home after 25% federal and 5% state taxes are witheld is just a tad over $110 million.

    This couple may have enjoyed living in this small town but all that will soon change Unhappy

    Thanks, Jill34786, I realized that Todd must have written the article too quickly, and that is why he referred to the "annuity" amount as the "lump sum" amount ... then all the math went down hill from there!

    No No

    I wonder if the winner's accountant [experienced accountants, here is your chance to chime in your research results] is going to be a helpful hire by recommending that this winner pay some additional Income Tax % to the Federal IRS this year, before April 2013; so that no penalty % will be charged for waiting to pay 'remainder due' until the following year of winner's $$s receival?

    Congratulations to this winner, hope he treats his wife to a lot of the winnings $$$s, so that she can retire  within a few months!

    Cheers

    Having several millions of dollars in my financial accounts means receiving several valuable services each day!

    Disney

      tntea's avatar - Lottery-059.jpg

      United States
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      June 30, 2004
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      Posted: April 18, 2012, 5:24 pm - IP Logged

      Fantastic Story..  I am very happy for them..Hurray!

           OLD/Vtrac   Lottery Bible         Double Warnings      Thumbs Up TN F34/F44

        HaveABall's avatar - rocket

        United States
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        March 18, 2009
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        Posted: April 18, 2012, 5:26 pm - IP Logged

        I am glad that they didn't buy $10,000 worth of tickets like that football player and they still won.

        I am glad that they bought quick pics and still won.

        I am glad thay they didn't play in a lotto group and still won.

        One ticket is all you need. Thats the minimum requirement folks. Sswwweeeet!

        LOL, that famous football player was probably joking so he could get easy, free, professional media  publicity! Wink

        Having several millions of dollars in my financial accounts means receiving several valuable services each day!

        Disney

          dpoly1's avatar - driver
          PA
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          Posted: April 18, 2012, 5:27 pm - IP Logged

          Thanks, Jill34786, I realized that Todd must have written the article too quickly, and that is why he referred to the "annuity" amount as the "lump sum" amount ... then all the math went down hill from there!

          No No

          I wonder if the winner's accountant [experienced accountants, here is your chance to chime in your research results] is going to be a helpful hire by recommending that this winner pay some additional Income Tax % to the Federal IRS this year, before April 2013; so that no penalty % will be charged for waiting to pay 'remainder due' until the following year of winner's $$s receival?

          Congratulations to this winner, hope he treats his wife to a lot of the winnings $$$s, so that she can retire  within a few months!

          Cheers

          When I win, I will find out how much in charitable contributions I have make to be able to tell the current Marxist-Socialist Regime in DC to go pound salt!

          Smash  caution, Barry Sorrento at "work"

          dpoly1 - Playing the lottery to save the jobs of those that build, transport, sell & maintain luxury items! -

           

          Eschew Poverty ........... Vote Conservative!

            HaveABall's avatar - rocket

            United States
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            March 18, 2009
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            Posted: April 18, 2012, 5:37 pm - IP Logged

            I have noticed that NO previous jackpot winner, from both Mega Millions and Powerball, has won via a row of #s that had the 'added insurance' thru "megaplier" or "powerplay" option!

            Perhaps only MM and PB players with the "I'm only playing for the jackpot win" mentality are the people that can win the jackpot?Eek

            Having several millions of dollars in my financial accounts means receiving several valuable services each day!

            Disney

              OldSchoolPa's avatar - Lottery-057.jpg
              Gurnee, Illinois
              United States
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              February 12, 2007
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              Posted: April 18, 2012, 5:38 pm - IP Logged

              These sound like a couple of real nice people.  Hopefully they don't get too many townspeople and relatives begging for money.  They seem like down to earth people.....

              "And in a related news report, the small town of Red Bud has experienced a population boom over the past two weeks as long lost relatives and supposed friends have come from near and far to knock at the door of the town's wealthiest and luckiest couple.

              Get MONEY!!! Winning a JACKPOT lottery is all the HOPE and CHANGE I desire!!!  NOW give me MONEY!US Flag

              The guy who won the presidency in 2008 really won the lottery...he is now millions richer, travels in first class style, and even has a staff that would be the envy of the richest Powerball winner (she has a staff of 2). Every night he goes to sleep, he probably plays the close of Dave Chappelle's Show: I'm rich beyatch!

                helpmewin's avatar - dandy
                u$a
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                Posted: April 18, 2012, 5:40 pm - IP Logged

                Congrats!! Party

                Great story,always the old people that win, Green laugh

                  HaveABall's avatar - rocket

                  United States
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                  Posted: April 18, 2012, 5:45 pm - IP Logged

                  When I win, I will find out how much in charitable contributions I have make to be able to tell the current Marxist-Socialist Regime in DC to go pound salt!

                  Smash  caution, Barry Sorrento at "work"

                  Thanks, dpoly1, this is one way to solve!  Star

                  Now, accountants who are into 'Federal IRS code research,' what are a couple more ways to prevent additional Federal Income Tax % tied to winner's new "Marginal Income Tax Bracket" being charged?

                  Having several millions of dollars in my financial accounts means receiving several valuable services each day!

                  Disney

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                    Las Vegas
                    United States
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                    November 17, 2011
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                    Posted: April 18, 2012, 6:14 pm - IP Logged

                    Thanks, Jill34786, I realized that Todd must have written the article too quickly, and that is why he referred to the "annuity" amount as the "lump sum" amount ... then all the math went down hill from there!

                    No No

                    I wonder if the winner's accountant [experienced accountants, here is your chance to chime in your research results] is going to be a helpful hire by recommending that this winner pay some additional Income Tax % to the Federal IRS this year, before April 2013; so that no penalty % will be charged for waiting to pay 'remainder due' until the following year of winner's $$s receival?

                    Congratulations to this winner, hope he treats his wife to a lot of the winnings $$$s, so that she can retire  within a few months!

                    Cheers

                    I had knowledge of how the estimated tax penalty worked a few years back.  It could have changed, but then, there was a "safe haven" that if you had more withheld than 120% (I believe that is the right number) of your tax liability from the prior year withheld in the current year, there would be no penalty.  Because the Butlers will have millions withheld, they would meet the safe haven.  They would still owe the extra taxes next April, but no penalty would apply.

                      Todd's avatar - Cylon 2.gif
                      Chief Bottle Washer
                      New Jersey
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                      Posted: April 18, 2012, 6:26 pm - IP Logged

                      Thanks, Jill34786, I realized that Todd must have written the article too quickly, and that is why he referred to the "annuity" amount as the "lump sum" amount ... then all the math went down hill from there!

                      No No

                      I wonder if the winner's accountant [experienced accountants, here is your chance to chime in your research results] is going to be a helpful hire by recommending that this winner pay some additional Income Tax % to the Federal IRS this year, before April 2013; so that no penalty % will be charged for waiting to pay 'remainder due' until the following year of winner's $$s receival?

                      Congratulations to this winner, hope he treats his wife to a lot of the winnings $$$s, so that she can retire  within a few months!

                      Cheers

                      Right you are, I was working too quickly.  I have updated the story with more accurate prize payout info.

                       

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                        dallascowboyfan's avatar - tiana the-princess-and-the-frog.jpg
                        Oklahoma
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                        Posted: April 18, 2012, 6:28 pm - IP Logged

                        Right you are, I was working too quickly.  I have updated the story with more accurate prize payout info.

                        Thanks for the update Todd...Thumbs Up

                        I Love Pink & Green 1908

                          Artist77's avatar - batman14

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                          January 16, 2012
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                          Posted: April 18, 2012, 6:42 pm - IP Logged

                           By today's standards, this is a young couple. Why should they let all the gloom and doom naysayers influence their staying in Red Bud?

                          They should park their ass's right where they are now. This will piss off all the pro anonymous people. They'll get over it!  LOL

                          I agree! People may know who they are regardless of where they move.  So they will get things in order.  Sometimes small towns can be protective of their residents.  There will be deadbeats asking for money wherever they are.  Might as well stay where they are happy.  I am sure they can afford some security.

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                            Huntsville AL
                            United States
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                            June 1, 2005
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                            Posted: April 18, 2012, 7:29 pm - IP Logged

                            Is it an invasion of privacy to make them be named? Didn't realize the requirement to participate in news conference. Can you say F Bomb city.

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                              NEW YORK
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                              April 29, 2010
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                              Posted: April 18, 2012, 7:42 pm - IP Logged

                              $3 MEGA MILLIONS QUICK PICK TICKET TURNED INTO $218.6 MILLIONS BEFORE TAXES.

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                              PLAY THE LOTTERY SOMEDAY-IT IS OKAY TO DREAM!