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$475 MILLION: Powerball jackpot nears a half-billion dollars

Topic closed. 131 replies. Last post 4 years ago by jamella724.

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brees2012's avatar - animal whale.jpg

United States
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March 26, 2012
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Posted: May 16, 2013, 12:43 pm - IP Logged

 What I like to know ....in my state the : net payout $211,680,000

  ( after taxes )  is this  the true amount or estimate ?

    helpmewin's avatar - dandy
    u$a
    United States
    Member #106665
    February 22, 2011
    19964 Posts
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    Posted: May 16, 2013, 12:46 pm - IP Logged

    Thanks for joining Cali you are making a Huge difference Dance

    Let it Snow Snowman

      Jill34786's avatar - Lottery-006.jpg
      Windermere, FL/Franklin, TN
      United States
      Member #50210
      March 1, 2007
      843 Posts
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      Posted: May 16, 2013, 12:48 pm - IP Logged

       What I like to know ....in my state the : net payout $211,680,000

        ( after taxes )  is this  the true amount or estimate ?

      That is the amount you will be paid initially. The lottery only deducts 25% Federal and your states 5% tax. You will be responsible for additional Federal taxes when you file your income tax return.

      Assuming you have no deductions, you will owe $44 million more just on your Federal tax liability. Your state may assess additional local taxes and you may be responsible for a 3.8% Obamacare tax. At this point the IRS language has been very vague on this matter as they state that this tax will apply to any earned and unearned income as well as capital gains over 200k. The IRS classifies lottery and gambling winnings as earned income.

        brees2012's avatar - animal whale.jpg

        United States
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        March 26, 2012
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        Posted: May 16, 2013, 12:52 pm - IP Logged

         Thank You ......... Jill 34786

          whiteballz's avatar - Lottery-015.jpg
          Nutley, New Jersey
          United States
          Member #131058
          August 1, 2012
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          Posted: May 16, 2013, 12:53 pm - IP Logged

          Thanks for joining Cali you are making a Huge difference Dance

          California Dreamin'! Cool

          .

            Kumo's avatar - ebDWVf6 jpg?1

            United States
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            January 27, 2012
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            Posted: May 16, 2013, 1:01 pm - IP Logged

            it rolled over at higher amount  then last half billion PB jackpot

            Powerball Jackpot for Sat, Nov 24, 2012 

            $325,000,000  or $212,800,000 cash


            rolled to

             Powerball Jackpot for Wed, Nov 28, 2012  $587,500,000 or $384,700,000 cash

            plus we got CA now !

            i think it will BEAT the old pb record

             587m for sure  , if not  close!

            the only 2 jackpots to get to half billion number before this won both had more then 1 winner also

            if 1 winner hits this only   say hello richest single lottery winner ever!

            and i dare say billion dollar jackpot if it rolls again "this time its good as dead thro, like less then 5% chance it rolls, who knows anything possible"

             

            i hope to god the poor sucker"or luckest person ever!" who wins this claims it in trust/hides  they will need it

            media going to be all over winners.............

            I agree. Not to mention last year's record PB started off at $425M on the final run. One thing that might have lowered sales for the old PB record is that the drawing was held less than a month before Christmas.

            The world record March 2012 $656 MM jackpot started off at $476M, I'd reckon that this new PB jackpot has got a pretty decent shot at breaking that record as well.

            Freedom is never more than one generation away from extinction. We didn't pass it to our children in the bloodstream. It must be fought for, protected, and handed on for them to do the same. ~Ronald Reagan

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              brees2012's avatar - animal whale.jpg

              United States
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              Posted: May 16, 2013, 1:03 pm - IP Logged

                  Will keep all this in mind .........taxes can become complicated ......

                  This is the reason why they say ...hire Tax Lawyer , Financial Advisor , and CPA .

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                AL
                United States
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                December 28, 2012
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                Posted: May 16, 2013, 1:44 pm - IP Logged

                Powerball just increased to $550 Million Party

                  gocart1's avatar - lighthouse
                  ONEONTA,NEW YORK
                  United States
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                  January 17, 2006
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                  Posted: May 16, 2013, 1:48 pm - IP Logged

                  Powerball just increased to $550 Million Party

                  I just got an email from new york state lottery on my facebook  saying its now 550 milliomPartyUS FlagParty

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                    Republic of Texas
                    United States
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                    January 9, 2008
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                    Posted: May 16, 2013, 1:52 pm - IP Logged

                    I just got an email from new york state lottery on my facebook  saying its now 550 milliomPartyUS FlagParty

                    $350.1M CASH!!!!

                    PartyUS FlagPartyDance

                    face

                    singlewinnersinglewinnersinglewinner   

                      weshar75's avatar - Lottery-042.jpg
                      Mcminnville, Oregon
                      United States
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                      December 13, 2003
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                      Posted: May 16, 2013, 1:54 pm - IP Logged

                      I just read on powerball website $550 million annuity.  Wow!-weshar75

                      US Flag

                        bluefox10's avatar - Lottery-061.jpg
                        New Member
                        New Jersey
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                        March 17, 2012
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                        Posted: May 16, 2013, 1:56 pm - IP Logged

                        $350.1M CASH!!!!

                        PartyUS FlagPartyDance

                        Not after taxes, unfortunately.

                          hearsetrax's avatar - 0118

                          United States
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                          May 21, 2007
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                          Posted: May 16, 2013, 1:58 pm - IP Logged

                          ScaredScaredScaredScared Scared 

                          industeral strength YIKES !!!

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                            Kentucky
                            United States
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                            February 14, 2006
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                            Posted: May 16, 2013, 1:58 pm - IP Logged

                            I just read on powerball website $550 million annuity.  Wow!-weshar75

                            US Flag

                            I just noticed that too on the KY Lottery site.  Double Wow!

                              gocart1's avatar - lighthouse
                              ONEONTA,NEW YORK
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                              Posted: May 16, 2013, 1:59 pm - IP Logged

                              Not after taxes, unfortunately.

                              Yes...Your right bluefox10........Gotta pay the taxman ..I thnik the I.R.S.  is going after the lottery people next, after the TEA PARTY people.lolUS Flag