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$900 MILLION: Powerball lottery jackpot to create unimaginable wealth

Topic closed. 397 replies. Last post 11 months ago by sirbrad.

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Pennsylvania
United States
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February 17, 2014
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Posted: January 9, 2016, 5:08 pm - IP Logged

Wondering if I should grab another ticket or 2? I have 5

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    United States
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    December 13, 2015
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    Posted: January 9, 2016, 5:09 pm - IP Logged

    Will it be ?????

     

    Hilarious! I Liked your NeNe Leakes post too!LOL

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      Roanoke, VA
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      Member #133540
      October 2, 2012
      8274 Posts
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      Posted: January 9, 2016, 5:10 pm - IP Logged

      So the ULTIMATE QUESTION HERE IS...

       

      IF I BUY A $2 TICKET... .... ........

      WILL I WIN?

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        Chicago
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        Member #171107
        December 31, 2015
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        Posted: January 9, 2016, 5:15 pm - IP Logged

        Curious if you match 5 numbers and win 1M ,, Is that the actual value of prize or is the actual cash value lower like in scratch off game (Say for instance 670k) and then after taxes you end up with well under half mil?


        Or is that 1M the actual prize and after taxes you end up with 650k or so?

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          New Member
          Toronto
          Canada
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          December 12, 2015
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          Posted: January 9, 2016, 5:16 pm - IP Logged

          Anyone still think the matrix change was a bad idea?

          I think it's a great idea!

            TnTicketlosers's avatar - Lottery-065.jpg

            United States
            Member #71120
            February 19, 2009
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            Posted: January 9, 2016, 5:16 pm - IP Logged

            Good luck to all the players,my husband ask me if I played..I said no in TENN. he said good girl...I hope there is multy winners.

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              United States
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              December 13, 2015
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              Posted: January 9, 2016, 5:16 pm - IP Logged

              Inquiring minds are wondering if Marie Holmes is blowing the rest of her Mega Millions winnings in an effort to win Powerball?!

              Who said she had any left?Crazy

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                Roanoke, VA
                United States
                Member #133540
                October 2, 2012
                8274 Posts
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                Posted: January 9, 2016, 5:16 pm - IP Logged

                Curious if you match 5 numbers and win 1M ,, Is that the actual value of prize or is the actual cash value lower like in scratch off game (Say for instance 670k) and then after taxes you end up with well under half mil?


                Or is that 1M the actual prize and after taxes you end up with 650k or so?

                If you win $1 million, you will get maybe 380k after taxes as a lump sum. Maybe around 600k or something if you take the annuity.

                  Guru101's avatar - rw6jhh
                  Indiana
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                  January 7, 2007
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                  Posted: January 9, 2016, 5:17 pm - IP Logged

                  Billion dollar jackpot come draw time.

                  Gonna win.Big Smile

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                    Roanoke, VA
                    United States
                    Member #133540
                    October 2, 2012
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                    Posted: January 9, 2016, 5:18 pm - IP Logged

                    Let's make a LP LP. (Lottery Post Lottery Pool)

                     

                    That way we'll all win if someone wins...

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                      January 7, 2015
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                      Posted: January 9, 2016, 5:21 pm - IP Logged

                      Curious if you match 5 numbers and win 1M ,, Is that the actual value of prize or is the actual cash value lower like in scratch off game (Say for instance 670k) and then after taxes you end up with well under half mil?


                      Or is that 1M the actual prize and after taxes you end up with 650k or so?

                      That seems to be the big question.

                      Especially with the 900 mil.

                      I don't believe some of the opinions coming this way.

                      But, you could for instance look at California's payouts on a typical win, and judge from that? maybe?

                        Groppo's avatar - cat anm.gif

                        United States
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                        January 7, 2015
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                        Posted: January 9, 2016, 5:24 pm - IP Logged

                        Let's make a LP LP. (Lottery Post Lottery Pool)

                         

                        That way we'll all win if someone wins...

                        I agree with this motion.   The LPLP.

                        Anyone else?

                        (there are so many little things I want to get. Like a Jeep, for one)

                          slotsarefun's avatar - appleboy
                          Cleveland Ohio
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                          May 28, 2007
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                          Posted: January 9, 2016, 5:25 pm - IP Logged

                          It would bust your bubble if she won again Blue Angel

                            dpoly1's avatar - driver
                            PA
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                            October 16, 2008
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                            Posted: January 9, 2016, 5:25 pm - IP Logged

                            One ticket 

                            One winner

                             

                            Party

                            I agree!

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

                             

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

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                              Westfield, MA
                              United States
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                              September 15, 2012
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                              Posted: January 9, 2016, 5:28 pm - IP Logged

                              Over half doesn't go to taxes.

                              You get the estimated amount only if you take the annuity. If you take lump sum, you get a one-time cash payment of what the lottery would have invested on your behalf to generate the annuitized value over 29 years.

                              Federal tax of 25% and part of the state taxes is withheld from the payment. When you file your 1040 tax form, you will have to pay the difference. That would be 14.6% (federal maximum tax of 39.6% - 25% which was deducted from payment) plus remaining state and or local taxes.

                              Any way you look at it, you will end up with about 51-60.4% of whichever payment method you choose.

                              You said:

                              "If you take lump sum, you get a one-time cash payment of what the lottery would have invested on your behalf to generate the annuitized value over 29 years."

                              I'm confused because:

                              1) I thought that if the winner took the one-time lump sum payment, they got what was in the JP from players that bought tickets, which is what builds the JP.

                              2) I thought the annuity payments included the estimated JP, which of course includes the interest earned over 29 years AND the ticket sales.

                              What I'm asking is this:

                              Why would the one-time lump-sum payment consist of the interest from the annuity payments, instead of the amount collected from the actual ticket sales?

                              What you said above just doesn't make sense to me. (I'm not saying you are wrong) I'm just confused, as I thought I understood the JP payout(s) as I just explained.

                               

                              Thanks and Good Luck tonight!

                                 
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