Welcome Guest
Log In | Register )
You last visited December 4, 2016, 3:15 pm
All times shown are
Eastern Time (GMT-5:00)

Record $1.6 billion Powerball jackpot won by 3 tickets

Topic closed. 182 replies. Last post 11 months ago by sirbrad.

Page 11 of 13
4.88
PrintE-mailLink
Tami333's avatar - winifrid
Michigan
United States
Member #139344
February 20, 2013
1141 Posts
Offline
Posted: January 14, 2016, 9:46 pm - IP Logged

This guy who bought the tickets for his employees was filthy RICH.  Interesting part related to the FBI Investigation last October;  http://www.jewishjournal.com/california/article/california_powerball_winner_had_ticket_gifted_by_shlomo_rechnitz_spokesman

But.....If you read all the good he has done for people.  God Bless him!!  Blue Angel

I take back where I bless him.  Wow, the crime.  OMG, what if he knows Eddie Tipton and that's why he is so rich?

http://www.sacbee.com/news/investigations/nursing-homes/article41344296.html

    Nikkicute's avatar - nnjx1k
    Wisconsin
    United States
    Member #123290
    February 17, 2012
    3048 Posts
    Offline
    Posted: January 14, 2016, 10:17 pm - IP Logged

    So many false stories out there! I'll wait till Todd post the story then I'll know it's official.

    First the claim of skateboarder in CA won, then a nurse, now a 27 year old hedge fund managerCrazy

    They are all over the place!!

      Avatar

      United States
      Member #171275
      January 5, 2016
      105 Posts
      Offline
      Posted: January 14, 2016, 10:37 pm - IP Logged

      I guess the lottery gods do not like NC! Everytime i turn around somebody in Florida , New York or the Midwest or the West always wins.  Can NC get a break for once?

      "Winner, winner, chicken dinner!"

       

      California has the biggest population (around 39M peeps) therefore it's never surprising that someone wins from CA.

       

      Florida is ranked number 3 on the list (around 20M peeps) in population, again not a surprise here. (note that New York has around the same amount of peeps)

      and

      Tennessee is ranked number 17 on the list (around 6.6M peeps) defied the odds both winning again under these new odds of 292M to 1 on November 4, 2015 ($144.1M annuity but took the Cash $89.7M) and then of course tonight!

      Tennessee is the fairy tale story of recent. 

       

      Just for fun if someone won out of the U.S. Virgin Islands then THAT would be very impressive as they have just over 100,000 peeps living there.

        Avatar

        United States
        Member #171275
        January 5, 2016
        105 Posts
        Offline
        Posted: January 14, 2016, 10:40 pm - IP Logged

        So many false stories out there! I'll wait till Todd post the story then I'll know it's official.

        First the claim of skateboarder in CA won, then a nurse, now a 27 year old hedge fund managerCrazy

        They are all over the place!!

        The skateboarder in CA Eric Bragg really couldn't help himself as he posted a pic of himself with a bogus winning ticket since his last name is Bragg....get it?..........okay maybe not.

          golfer1960's avatar - Lottery-003.jpg
          Eatontown, NJ
          United States
          Member #119670
          November 29, 2011
          740 Posts
          Offline
          Posted: January 14, 2016, 11:17 pm - IP Logged

          the cash value is about $990 million. Divide that by the three of them, and then subtract the federal tax. Those 3 states don't; have any state tax.

          actually it's about $ 200 million each. my Calculation was off. but Gloria M still holds the record for $590 million.

          I agree with you Solewinner, in NJ we have a top State income tax rate of 10.8%. When you add that to the top federal income tax rate of 39.6% it adds up to 50.4%. In NJ that would net the winner approximately $163.68M after taxes ($330M minus 50.4% = $163.68M).

            RL-RANDOMLOGIC's avatar - usafce

            United States
            Member #59354
            March 13, 2008
            3962 Posts
            Offline
            Posted: January 14, 2016, 11:53 pm - IP Logged

            I take back where I bless him.  Wow, the crime.  OMG, what if he knows Eddie Tipton and that's why he is so rich?

            http://www.sacbee.com/news/investigations/nursing-homes/article41344296.html

            Bless your enemies, if he repents then you saved his life, if not then it will be like pouring buckets

            of hot coals on his head..

            RL

            Working on my Ph.D.  "University of hard Knocks"

            I will consider the opinion that my winnings are a product of chance if you are willing to consider

            they are not.  Many great discoveries come while searching for something else

            USAF https://en.wikipedia.org/wiki/Prime_Base_Engineer_Emergency_Force

              US Flag Trump / 2016 & 2020  

              RL-RANDOMLOGIC's avatar - usafce

              United States
              Member #59354
              March 13, 2008
              3962 Posts
              Offline
              Posted: January 15, 2016, 12:01 am - IP Logged

              I agree with you Solewinner, in NJ we have a top State income tax rate of 10.8%. When you add that to the top federal income tax rate of 39.6% it adds up to 50.4%. In NJ that would net the winner approximately $163.68M after taxes ($330M minus 50.4% = $163.68M).

              Just goes to show how far an advertised 1.5 billion JP goes these days.  A NJ winner would be down to around 11%

              before he/she spends a dime.  Only in the USA.

              RL

              Working on my Ph.D.  "University of hard Knocks"

              I will consider the opinion that my winnings are a product of chance if you are willing to consider

              they are not.  Many great discoveries come while searching for something else

              USAF https://en.wikipedia.org/wiki/Prime_Base_Engineer_Emergency_Force

                US Flag Trump / 2016 & 2020  

                Groppo's avatar - cat anm.gif

                United States
                Member #162631
                January 7, 2015
                502 Posts
                Offline
                Posted: January 15, 2016, 12:25 am - IP Logged

                Just goes to show how far an advertised 1.5 billion JP goes these days.  A NJ winner would be down to around 11%

                before he/she spends a dime.  Only in the USA.

                RL

                Would you help me understand something:


                New Jersey Lotto tax is said to be just 3%.

                OK, first the Fed tax 39%, (which is 25% + the rest)

                So, does this 3% agree with what you've calculated?

                If not, why not?

                  sirbrad's avatar - Lottery-062.jpg
                  PA
                  United States
                  Member #22983
                  October 6, 2005
                  2226 Posts
                  Offline
                  Posted: January 15, 2016, 2:02 am - IP Logged

                  And that is why you don't "buy every combination for $584 million" like many said. Even if it were possible which it isn't in that short amount of time, they would have lost $400 million on the 3 way split. That is why people with that kind of money don't make dumb decisions like that. They don't need to and they are rich for a reason they are smarter than that.

                    RedStang's avatar - tallman zps6gf4inoc.jpg
                    NY
                    United States
                    Member #121961
                    January 21, 2012
                    3157 Posts
                    Offline
                    Posted: January 15, 2016, 2:19 am - IP Logged

                    We had a group of 71 teachers, administrators and staffers from our local school hit 4+1. They get $700 each before taxes and had 9 instead of 19. Not sure how they'll split that up.

                      RL-RANDOMLOGIC's avatar - usafce

                      United States
                      Member #59354
                      March 13, 2008
                      3962 Posts
                      Offline
                      Posted: January 15, 2016, 3:29 am - IP Logged

                      Would you help me understand something:


                      New Jersey Lotto tax is said to be just 3%.

                      OK, first the Fed tax 39%, (which is 25% + the rest)

                      So, does this 3% agree with what you've calculated?

                      If not, why not?

                      As stated in a previous post "in NJ we have a top State income tax rate of 10.8%. When you add that to the top federal

                      income tax rate of 39.6% it adds up to 50.4%."

                      The rates you quote are the minimum, the more money you get after a certain level the higher the taxes.

                      RL

                      Working on my Ph.D.  "University of hard Knocks"

                      I will consider the opinion that my winnings are a product of chance if you are willing to consider

                      they are not.  Many great discoveries come while searching for something else

                      USAF https://en.wikipedia.org/wiki/Prime_Base_Engineer_Emergency_Force

                        US Flag Trump / 2016 & 2020  

                        Avatar

                        United States
                        Member #171275
                        January 5, 2016
                        105 Posts
                        Offline
                        Posted: January 15, 2016, 3:31 am - IP Logged

                        As stated in a previous post "in NJ we have a top State income tax rate of 10.8%. When you add that to the top federal

                        income tax rate of 39.6% it adds up to 50.4%."

                        The rates you quote are the minimum, the more money you get after a certain level the higher the taxes.

                        RL

                        Hence the expression, "The more you make, the more they take."

                          RL-RANDOMLOGIC's avatar - usafce

                          United States
                          Member #59354
                          March 13, 2008
                          3962 Posts
                          Offline
                          Posted: January 15, 2016, 3:36 am - IP Logged

                          We had a group of 71 teachers, administrators and staffers from our local school hit 4+1. They get $700 each before taxes and had 9 instead of 19. Not sure how they'll split that up.

                          The members each need to fill out the correct form provided by the lottery office.  The lottery will then hold

                          out the correct taxes and write each one a check or make a direct deposit into their bank.  I am sure they

                          can go online and download the form.

                           

                          I suppose it could be done differently but this would be the easiest.

                          RL

                          Working on my Ph.D.  "University of hard Knocks"

                          I will consider the opinion that my winnings are a product of chance if you are willing to consider

                          they are not.  Many great discoveries come while searching for something else

                          USAF https://en.wikipedia.org/wiki/Prime_Base_Engineer_Emergency_Force

                            US Flag Trump / 2016 & 2020  

                            RL-RANDOMLOGIC's avatar - usafce

                            United States
                            Member #59354
                            March 13, 2008
                            3962 Posts
                            Offline
                            Posted: January 15, 2016, 3:38 am - IP Logged

                            Hence the expression, "The more you make, the more they take."

                            I Agree!

                            RL

                            Working on my Ph.D.  "University of hard Knocks"

                            I will consider the opinion that my winnings are a product of chance if you are willing to consider

                            they are not.  Many great discoveries come while searching for something else

                            USAF https://en.wikipedia.org/wiki/Prime_Base_Engineer_Emergency_Force

                              US Flag Trump / 2016 & 2020  

                              Groppo's avatar - cat anm.gif

                              United States
                              Member #162631
                              January 7, 2015
                              502 Posts
                              Offline
                              Posted: January 15, 2016, 6:39 am - IP Logged

                              I Agree!

                              RL

                              .

                              No, I'm talking about the tax rate on jackpot analysis, on usamega.com.

                              On the page, where it lists states like Florida, and California at 0% tax rate.

                              How do the tax rates on that page figure into the total tax.

                              If there's no cut/dried answer, it's like I've figured about asking 10 different people about the tax issue, and getting 10 different answers.

                              Or is usamega.com in error?   I figure they can't be since others agree that Florida, California and a few other states are at 0% lotto-tax rate.

                              If so, then what's worse, is that the IRS is happy with whichever answer when filing taxes.

                                 
                                Page 11 of 13