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20 co-workers to split $421M Powerball jackpot

50 replies. Last post 2 hours ago by Drenick1.

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sully16's avatar - sharan
Ringleader
Michigan
United States
Member #81740
October 28, 2009
40378 Posts
Online
Posted: November 30, 2016, 7:52 am - IP Logged

Congrats to all the winners, nice Christmas this year.

Did you exchange a walk on part in the war ?

For a lead role in a cage?

 

                                            From Pink Floyd's " Wish you were here"

    Piaceri's avatar - sarsony1
    Republic of Texas
    United States
    Member #57557
    January 9, 2008
    1095 Posts
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    Posted: November 30, 2016, 9:03 am - IP Logged

    My office's lottery pool of 19 (was 20 until recently) that buys about 60 tickets per drawing is encouraged! Party

     

    Congrats to the winners!

    face

    singlewinnersinglewinnersinglewinner   

      Avatar
      USA
      United States
      Member #172127
      January 16, 2016
      98 Posts
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      Posted: November 30, 2016, 9:22 am - IP Logged

      Roll Eyes let me see if I got this straight ??

       

      XL house in Caliporny aka the land of quakes 50+ brush fires,landslides,drought and other freaks

      harley ,but you have a bike

      a porsche to race on weekends and a daily driver 

      and have money to donate

      ===========

      sounds to me,

      like even if you did win you'd still be whining and bching about something and wishing you'd never left home

      LOL I Was THINKING The VERY SAME THING!!!!!!!!!!!!!!!

      THANK YOU....................

      HAPPY HOLIDAYS, BE SAFE & GOOD LUCK Y'ALL Sad Wavey

        MoneyMike$'s avatar - Lottery-050.jpg
        Ny
        United States
        Member #167314
        July 5, 2015
        1805 Posts
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        Posted: November 30, 2016, 10:02 am - IP Logged

        Nice 20 winners wagering 60 a draw at 3 dollars an individual. They're genius

        Creativity..

        " What's more likely to happen will happen.. "

        Million dollar operation 

        Wink

          rundown99's avatar - cigar

          United States
          Member #567
          August 14, 2002
          482 Posts
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          Posted: November 30, 2016, 11:22 am - IP Logged

          Does anyone know if the winning ticket was a quick pick or if the players selected the winning numbers?

          Smart lottery winners form trust to claim their winnings.  They send an attorney to the lottery headquarters to claim the prize in trust, so that ONLY the name of the trust is revealed.  And they tell NO ONE, especially relatives.

          If you ever win a lottery and you are single, the only person you should ever marry is someone who was truly in love with you BEFORE you won the jackpot!

            Skibunnylk's avatar - Lottery-059.jpg

            United States
            Member #157701
            July 28, 2014
            137 Posts
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            Posted: November 30, 2016, 12:34 pm - IP Logged

            I had to re-read the article as the numbers weren't adding up in my head. The article mentions that each of the 20 winners were getting approx. $12.7 million AFTER taxes. The lump sum cash amount is $254.6 so divided by 20 it comes out to $12.73 million. Am I missing something here or is TN exempt from both state and federal taxes? under the standard federal tax law married couples filing jointly are taxed at 39.6% after the initial $466,950 so the balance assuming no deductions are used would be $4,856,167 so their true take home after all federal tax obligations are met is less than $7.9 million.

            Perhaps there is a new change in the laws allowing lottery winning to be free of federal taxes....that would be a welcome surprise to everyone who plays!

            Never attempt to maintain a lifestyle you can't afford.

              Skibunnylk's avatar - Lottery-059.jpg

              United States
              Member #157701
              July 28, 2014
              137 Posts
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              Posted: November 30, 2016, 12:41 pm - IP Logged

              Roll Eyes let me see if I got this straight ??

               

              XL house in Caliporny aka the land of quakes 50+ brush fires,landslides,drought and other freaks

              harley ,but you have a bike

              a porsche to race on weekends and a daily driver 

              and have money to donate

              ===========

              sounds to me,

              like even if you did win you'd still be whining and bching about something and wishing you'd never left home

              Some people just enjoy whining or complaining. Give them a reason, any reason and they will protest and complain, for them it sure beats having a real job.

              Never attempt to maintain a lifestyle you can't afford.

                noise-gate's avatar - images q=tbn:ANd9GcR91HDs4UJhjxO7cmeMQWZ5lB_FOcMLOGicau4V74R45tDgPWrr
                Bay Area - California
                United States
                Member #136477
                December 12, 2012
                4106 Posts
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                Posted: November 30, 2016, 3:14 pm - IP Logged

                LOL I Was THINKING The VERY SAME THING!!!!!!!!!!!!!!!

                THANK YOU....................

                You may be thinking the same thing but you & H are forgetting something : That is, it's his or her wish or dream. Good thing is we can allow someone into our dreams & can literally kill them off within seconds. Great stuff,  this dreaming.

                People who say it cannot be done should not interrupt those who are doing it- George Bernard Shaw.

                  noise-gate's avatar - images q=tbn:ANd9GcR91HDs4UJhjxO7cmeMQWZ5lB_FOcMLOGicau4V74R45tDgPWrr
                  Bay Area - California
                  United States
                  Member #136477
                  December 12, 2012
                  4106 Posts
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                  Posted: November 30, 2016, 8:04 pm - IP Logged

                  I Agree!  Good to see a group win. US Flag

                   Have you given this much thought Music that if you win the Superlotto Plus jackpot tonight - you would end up with millions more than any individual winner of the recent PB jackpot?  Mouthwatering thought huh M? Hope you have your ticket.Smile

                  People who say it cannot be done should not interrupt those who are doing it- George Bernard Shaw.

                    Avatar
                    NY
                    United States
                    Member #23835
                    October 16, 2005
                    3474 Posts
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                    Posted: December 1, 2016, 1:28 am - IP Logged

                    I had to re-read the article as the numbers weren't adding up in my head. The article mentions that each of the 20 winners were getting approx. $12.7 million AFTER taxes. The lump sum cash amount is $254.6 so divided by 20 it comes out to $12.73 million. Am I missing something here or is TN exempt from both state and federal taxes? under the standard federal tax law married couples filing jointly are taxed at 39.6% after the initial $466,950 so the balance assuming no deductions are used would be $4,856,167 so their true take home after all federal tax obligations are met is less than $7.9 million.

                    Perhaps there is a new change in the laws allowing lottery winning to be free of federal taxes....that would be a welcome surprise to everyone who plays!

                    The article says they'll be "taking home" about $12.7 million each. That implies that's it's the net after taxes (or at least withholding), which makes the article wrong. There's no state income tax, but they'll be subject to the usual 25% withholding for federal taxes, so each should initially collect about $9.5 million. What they'll actually end up with will depend on their specific situation and whether or not the top bracket for 2017 remains at 39.6%.

                      helpmewin's avatar - dandy
                      u$a
                      United States
                      Member #106665
                      February 22, 2011
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                      Posted: December 1, 2016, 3:11 am - IP Logged

                      Congratulations "Tennessee 20," Spend Wisely  Banana Party

                      Let it Snow Snowman

                        Saylorgirl's avatar - Lottery-065.jpg
                        Indiana
                        United States
                        Member #129225
                        June 13, 2012
                        546 Posts
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                        Posted: December 1, 2016, 7:02 pm - IP Logged

                        The article says they'll be "taking home" about $12.7 million each. That implies that's it's the net after taxes (or at least withholding), which makes the article wrong. There's no state income tax, but they'll be subject to the usual 25% withholding for federal taxes, so each should initially collect about $9.5 million. What they'll actually end up with will depend on their specific situation and whether or not the top bracket for 2017 remains at 39.6%.

                        Nice that Tennessee does not have state taxes on the lottery!!  Since they are collecting their winnings in 2016 it will this years tax bracket and not 2017.

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                          New Member
                          Kingstown/Caribbean
                          Saint Vincent and the Grenadines
                          Member #101776
                          December 8, 2010
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                          Posted: December 2, 2016, 8:03 am - IP Logged

                          It is a good that 20 person won so that the wealth could be shared.  That is twenty (20) families benefiting from this win.  A blessing indeed.

                            Skibunnylk's avatar - Lottery-059.jpg

                            United States
                            Member #157701
                            July 28, 2014
                            137 Posts
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                            Posted: December 2, 2016, 9:04 am - IP Logged

                            Nice 20 winners wagering 60 a draw at 3 dollars an individual. They're genius

                            There are tens of thousands who participate in various types of lottery pools and haven't won much of anything. I doubt they consider themselves geniuses.

                            This particular group of winners simply got lucky.

                            Never attempt to maintain a lifestyle you can't afford.

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                              San Diego, CA
                              United States
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                              February 12, 2008
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                              Posted: December 2, 2016, 12:07 pm - IP Logged

                              The article says they'll be "taking home" about $12.7 million each. That implies that's it's the net after taxes (or at least withholding), which makes the article wrong. There's no state income tax, but they'll be subject to the usual 25% withholding for federal taxes, so each should initially collect about $9.5 million. What they'll actually end up with will depend on their specific situation and whether or not the top bracket for 2017 remains at 39.6%.

                              Wouldn't the federal tax rate end up being 39.6% since they would be in the highest tax bracket?  Is Witholding what is taken up front?