POWERBALL CREATES WORLD'S FIRST BILLION-DOLLAR JACKPOT

Comment #567

AbsolutelyFun — Wed, 13 Jan 2016 11:43:24 GMT

MegaPowerball that's who

Comment #566

AbsolutelyFun — Wed, 13 Jan 2016 11:42:05 GMT

Yeah that home in your video is pretty much over the top unless you frequently have guests over and like to throw parties and/or you have a monster sized family who could use the space. Living in a home like that with say a typical American family would be overkill otherwise not to mention the maintenance like you mentioned. The other consideration is that assuming you walk away after paying all your taxes due from your JP and you only have $500 Million then $195 is spending way more than you sh... [ More ]

Comment #565

sirbrad — Wed, 13 Jan 2016 09:41:09 GMT

Comment #564

sirbrad — Wed, 13 Jan 2016 09:38:54 GMT

Or the $195,000,000 one which they say they can't imagine anyone affording except Donald Trump. Well they could now! Personally I would never get a house THAT big or THAT expensive. I would be happy with the ones in my area living on the golf course for $500,000-$1,000,000 tops. Some are huge too compared to what I am used to. I would just have a lot of expensive toys inside. I would never want to try and maintain that big of a property. Most of it I would probably only see a few times a year an... [ More ]

Comment #563

sirbrad — Wed, 13 Jan 2016 08:56:11 GMT

Actually I was hoping to win the big MM the other night so I would be completely anonymous but someone else got it. I play MM more than Powerball because of the $1.00 price and better odds. But when it is so high, or historically high like now I play PB just for the fun of it.

Comment #562

sirbrad — Wed, 13 Jan 2016 08:54:20 GMT

Mega who

Comment #561

sirbrad — Wed, 13 Jan 2016 08:47:06 GMT

I would do that also lol. You have one billion dollars. In a choppy computer voice. Nice I will be watching those shows again! I would put it all in my bank so I cold watch it easier or get a CDAR to be insured up to $50 million. But I am not worried about my bank as they have been around a long time and have a high rating and about a billion net worth already. I would just double it. But if I took the annuity I would a check coming every year and would be set after the first year anyway. So wit... [ More ]

Comment #560

sirbrad — Wed, 13 Jan 2016 08:32:06 GMT

Funny how so many only focus on the potentially negative and taxes, even though the chances of of things happening is minuscule. Not to mention you should already have more money than you will ever need after a year and on anyway unless you are a complete idiot. Chances are you will get every payment as it is shown with a 5% increase every year. I don't give a crap about the taxes, I am thinking about how much money I will have after them regardless of what method I take. The PB is not going to... [ More ]

Comment #559

AbsolutelyFun — Wed, 13 Jan 2016 08:29:18 GMT

Again, thanks for your reply. I would like to quote what you said in your initial post, .....look, it's fun to dream and plan but so far no one on here has the remotest idea of what to do with 800 million. 5 months in and you would be saying i would have been happier with 10 million. that maybe i could handle

At first I thought that we were discussing whether anyone here (your words were ...no one here has the remotest... ) had the remotest idea of what to do with $800M.

I've stated my r... [ More ]

Comment #558

sirbrad — Wed, 13 Jan 2016 06:33:44 GMT

Those are minority circumstances tough and MUCH lower annuities. One would have to be REALLY stupid to burn through that much money. For me I would be set for life after the first check, the rest would be all gravy. I have been self-employed for 25 years and used to work a bank so my only team will be ME as there is an M and E in team. This annuity is astronomical and one payment alone is higher than the MM starting jackpot. You will getting WAY more than anyone else ever did with this annuity a... [ More ]

Comment #557

sirbrad — Wed, 13 Jan 2016 05:26:13 GMT

A terminal sold 7 QP's all the same. Seems like some type of error or rigging. Pretty odd won't let me post the link or photo which is stupid. Look up

Texan Buys Seven (7) Quick Picks ...

Receives 7 Identical Tickets ...

Comment #556

sirbrad — Wed, 13 Jan 2016 05:20:37 GMT

It is not false advertising if you know how it works and ready the fine print. Many don't though. That amount is if you take the annuity. But if people do not look into it more carefully it is their own fault. Nonetheless I highly doubt they would be complaining after the taxes are taken out. If they do they are REALLY greedy and have issues. They would still have more money than anyone has ever won and a lot more money than most. You should know the rules before you play.

Comment #555

sirbrad — Wed, 13 Jan 2016 04:48:02 GMT

People will still play otherwise the jackpots would never get up that high. It might just take longer. But most of those types are idiots, I will gladly take $15 million and up even less. I would prefer a lot more to be REALLY secure but I still play when it is low .

Comment #554

ecnirP — Tue, 12 Jan 2016 22:44:26 GMT

Looking at the amount of money coming in with this jackpot, I can honestly say I have zero interest in investing it wisely to earn a good return. I'll be spending my energy on finding fun ways to spend it, knowing darn good and well that I'm really not going to be able to do so.

I've often thought about how to handle all those people who would inevitably come to you to invest in their great idea or business opportunity. I will start the conversation with you need to ask me the right question... [ More ]

Comment #553

joshuacloak — Tue, 12 Jan 2016 22:28:08 GMT

Groppo, on #1 I'm very sure about long term returns.

As for #2 about the 5 year jumps. The idea was I was trying to show you the longer you hold a great company. The more money they will make and send out to you the shareholder/part owner.

For each single share you had ownership of at start of 1997 you was paid 32 cents in total in 1997.

So...

In 1997: $0.32 or 32 cents.

In 2002: $0.6302 or 63 cents

In 2007: $1.135 or 1 dollar and 13 cents

In 2012: $1.56 or 1 dollar and... [ More ]

Comment #552

faber98 — Tue, 12 Jan 2016 18:55:07 GMT

those people would thumb up their nose at you trying in infiltrate their inner circles. those people built up their wealth gradually. you can't hit a lottery and just jump into that societal lifestyle. sure, you could buy a yacht. but you wouldn't use it more than once more than likely. it would be something completely foreign to you. and do you drive a yacht or is it steered or piloted. you could move to a gated community, sure. but the haves that already live there would ignore a johnny come l... [ More ]

Comment #551

AbsolutelyFun — Tue, 12 Jan 2016 18:29:54 GMT

First of all, thanks for your prompt reply. I believe that there are many very wealthy people out there who own assets far beyond what I described. We know this because have you seen the number of used yachts for sale online? Even the used prices are incredible in the tens of millions. The same goes with used private jets. And I agree with you that just the one yardman and maid won't be quite enough which demonstrates that more money can easily be spent as your first statement was that people ca... [ More ]

Comment #550

docstrange — Tue, 12 Jan 2016 17:04:45 GMT

might be war if a Canadian would win

we would pay IRS taxes maybe State tax then convert the money to Canadian and laugh all the way to the bank

Comment #549

Groppo — Tue, 12 Jan 2016 16:59:10 GMT

I read you post several times. Even forward, backwards. And, I have a few questions.

Are you positively sure about all of this? On the part where you talk about the '5 year jumps', are those figures you listed next to the years supposed to be percentages of the dividends paid, in those years? I'm not sure I understand about 'taxed at a lower rate'. What is supposed to be taxed at a lower rate and when?

I just want to be properly 'financially armed' if the unthinkable happens.... [ More ]

Comment #548

Groppo — Tue, 12 Jan 2016 16:45:09 GMT

.

Yes sir, I had said earlier, that I am playing for only the million dollar prize!

But then, I saw the long post by the guy who mentioned about the 4%, and then I'm like

hmmm . I'm getting ready to reply to their post, because I have a couple of questions about the details they posted.

But, if I could win 1 million (2nd prize) , I'd stop my lotto participation, for good.

(careful there Grop, I guarantee you if no on hits, we'll see you here by Saturday... [ More ]

Comment #547

One-Day — Tue, 12 Jan 2016 16:18:58 GMT

Thanks. He said:

Don't take the lump sum. You don't want to blow it all in one spot.

Agree. Annuity all the way. Too much stress right off the bat too.

Comment #546

faber98 — Tue, 12 Jan 2016 16:17:16 GMT

tell your friends and relatives yes. take all you want because i need help getting rid of this albatross that's hanging over my head. if you don't you will be resented or worse. what fun would that be. that advice is sound if you only won a million or so but this is an exception to that rule.

Comment #545

HoLeeKau — Tue, 12 Jan 2016 16:15:26 GMT

$930 cash value

Comment #544

Suzy-Dittlenose — Tue, 12 Jan 2016 16:14:21 GMT

Quick, someone notify Homeland Security

Comment #543

One-Day — Tue, 12 Jan 2016 16:13:17 GMT

$1.5B already

Comment #542

Suzy-Dittlenose — Tue, 12 Jan 2016 16:11:59 GMT

Dah.....which way did they go George......

Comment #541

faber98 — Tue, 12 Jan 2016 16:11:40 GMT

thanks for making my point. you couldn't and wouldn't do all that obviously. the energy that you would consume trying to do all that would kill you. no, it's fun to dream and fantasize about it but you probably have trouble just getting your mail out of the mailbox every day. just 1 maid and yardman wouldn't be enough to remotely take care of your beverly hills domicile. so re-evaluate that. if the boat sinks just be sure you're not on it. also, impossible to find personal assistants you can tru... [ More ]

Comment #540

HoLeeKau — Tue, 12 Jan 2016 15:44:00 GMT

I don't have time to figure out where I stopped reading last night, so I hope no one has posted this. Mark Cuban's advice to the winner.

http://finance.yahoo.com/news/heres-mark-cubans-advice-winner-135430907.html

My favorite, and the one that so many (I'm talking about posters on non-lottery forums) fault me for and call me greedy:

Tell all your friends and relatives no. They will ask. Tell them no. If you are close to them, you already know who needs help and what they need... [ More ]

Comment #539

BBLL — Tue, 12 Jan 2016 15:40:06 GMT

How much will the jackpot be if nobody win on Wednesday

Comment #538

AbsolutelyFun — Tue, 12 Jan 2016 15:32:43 GMT

$800 million? Nobody will get $800 million unless you're referring to the Annuity. If you're in a no tax state you gotta give Uncle Sam 39.6%. The current Cash Option is $868M so multiply that by .604 (60.4%) and you get $524,272,000 Million.

So lets' get spending!

Now assuming I want to spend my money like a madman, I would buy that beautiful home in Beverly Hills for $85,000,000 (you can see it on YouTube) I can't even imagine what the property taxes are but it must be insane. The upkeep... [ More ]

Comment #537

BBLL — Tue, 12 Jan 2016 15:08:14 GMT

Very helpful, thanks

Comment #536

faber98 — Tue, 12 Jan 2016 14:14:43 GMT

it is hilarious, but true. people obsessing about tax laws. concerned about which state will take the most away from you. you should hope if you win that they take most of it so you won't have the problem of trying to get rid of it yourself. look, it's fun to dream and plan but so far no one on here has the remotest idea of what to do with 800 million. 5 months in and you would be saying i would have been happier with 10 million. that maybe i could handle.

Comment #535

AbsolutelyFun — Tue, 12 Jan 2016 13:55:27 GMT

faber98 said, they are far more adept in handling it than the peasants on this site....

Dang that's hilarious

Comment #534

faber98 — Tue, 12 Jan 2016 13:35:44 GMT

because they got their fortunes over time. not all at once like this would do. they say the first million is the hardest to obtain. after that it gets easier if done right. they are far more adept in handling it than the peasants on this site (most of whom realize it's just a pipe dream are merely being entertained by this) deep down hoping they only win 1 or 2 million at most which is the viable approach. 800 million! no one could possibly want all that. with luck there will be a dozen or more... [ More ]

Comment #533

bigboy90000 — Tue, 12 Jan 2016 13:17:31 GMT

If that was the case I wonder how all these people on the Forbes list don't crack up .

Comment #532

savagegoose — Tue, 12 Jan 2016 13:10:15 GMT

think its same as me no state tax as im not resident but %10 more on top of federal taxes. no local Australian taxes as we dnt ta winnings unless yo re a professional

Comment #531

faber98 — Tue, 12 Jan 2016 13:03:01 GMT

who cares? even your own tax situation if you win doesn't matter. no one could keep track of all that money anyway. you'd have to hire a dozen people just to make sure someone isn't siphoning it off and out of those 12 people some of them will steal some of it. life would be hell if you won. you would be besieged by countless individuals and organizations 24 hours a day. when you wake up every day if you can even sleep you will be consumed by having all this money and there is no way to enjoy it... [ More ]

Comment #530

jacintasc — Tue, 12 Jan 2016 12:54:37 GMT

Instead of 28% Fed Tax, It goes up to 30 % and then the state taxes (if any

Comment #529

AbsolutelyFun — Tue, 12 Jan 2016 12:52:16 GMT

Really? Wow that's brutal.

Comment #528

jacintasc — Tue, 12 Jan 2016 12:51:30 GMT

lol! so true! 30% plus all US Taxes

Comment #527

AbsolutelyFun — Tue, 12 Jan 2016 12:50:24 GMT

I would like to extend a personal thanks to all those Canadians who are willing to contribute the jackpot so that we Americans can win it.

Although there won't be any Canadians winning I can't help to wonder just what their tax situation would be if they could win.

Comment #526

jacintasc — Tue, 12 Jan 2016 12:31:53 GMT

CBS is reporting that Canadians are crossing the border to buy the PB at Niagara Falls

Comment #525

jacintasc — Tue, 12 Jan 2016 11:48:56 GMT

The news anchor just said she tried to buy PB tickets yesterday , but she didn't know it was cash only and she only had credit cards. Wow

Comment #524

savagegoose — Tue, 12 Jan 2016 11:40:38 GMT

I like that last post. as to the annuity option. you cn practice ot messing up and if you blow it all you only have to wait a year to try again ad you get 29 more times till you really are broke. Also like the no one needs $1M

Comment #523

AbsolutelyFun — Tue, 12 Jan 2016 10:56:04 GMT

Dallas Mavericks owner Mark Cuban, who knows what it s like to suddenly become incredibly wealthy has some tips (some practical and some philosophical) for the winner or winners.

Hire a tax attorney first. Don t take the lump sum. You don t want to blow it all in one spot. (I don't agree with him on this one. The opposite of not taking a lump sump is taking the annuity)

If you weren t happy yesterday you won t be happy tomorrow. It s money. It s not happiness. If you were happy yesterday,... [ More ]

Comment #522

AbsolutelyFun — Tue, 12 Jan 2016 09:52:11 GMT

I respectfully disagree that there will be 32 Grand Prize winners. My prediction is either it rolls or 1 to 3 Grand Prize winners.

Comment #521

joshuacloak — Tue, 12 Jan 2016 07:49:24 GMT

JAMORA is right in spirit. Anyone thinking about taking the annuity is falling for something we call the money illusion.

The 1.4 billion annuity is misleading as it doesn't exist beyond the cash amount they can pay you right now folks.

You need to stop thinking about 1.4 billion and start thinking about true earnings power if you invested it by yourself.

All, the lottery does is take nearly the full cash jackpot and invest it into a government bond on your behalf. So the question become... [ More ]

Comment #520

JAMORA — Tue, 12 Jan 2016 07:20:35 GMT

$868 million...that's it....no 1.4 bilion exists , yet....IF you take the annuity, they'll gladly pay you in payments while the interest and taxes fluctuate for 30 years...LOL How do they get away with this lie of 1.4 billion? LOL! $500 million of that number DOESN'T exist

Comment #519

nist7seven — Tue, 12 Jan 2016 06:20:42 GMT

No one would actually do this because at the current pot you are still guaranteed to lose money.

You spend 584 million to buy 292 million combos.

You take the immediate lump sum....which is 868 million dollars.

Say you only have to pay fed tax, and you live in a state where they don't tax any income/lotto wins.

You are left with 524 million dollars in winings.

Congratulations to just spent 584 milion dollars to get back 524 million dollars. It would've been easier to jus... [ More ]

Comment #518

Suzy-Dittlenose — Tue, 12 Jan 2016 05:08:41 GMT

Nope.....

Comment #517

Groppo — Tue, 12 Jan 2016 04:38:42 GMT

.

Do you live in Beverly Hills, Ca

Comment #516

Suzy-Dittlenose — Tue, 12 Jan 2016 04:30:57 GMT

I purchased a bunch of PB tickets today at Safeway after waiting in line for about 35 minutes. People were buying in excess of $100 in tickets from the machine and they were excited.

Comment #515

docstrange — Tue, 12 Jan 2016 03:53:14 GMT

Just love all the comments

Comment #514

docstrange — Tue, 12 Jan 2016 03:52:16 GMT

would take $584 million as tickets are $2 each

Comment #513

larry3100 — Tue, 12 Jan 2016 03:47:33 GMT

I see posts about What if someone were to try to purchase all the different possible combination of numbers to win the Powerball game?, well that would take days if not forever doing it, for sure. But let's assume the Lottery Headquarters makes an exception to the way it is done now, as I said, and the Lottery Headquarters says Okay, we'll take the $292 million by cashiers check, to cover all the possible combination of numbers to win the game. well, you would get a lot of people upset about tha... [ More ]

Comment #512

Groppo — Tue, 12 Jan 2016 01:20:31 GMT

I have learned more about how taxes work, in this thread, than anywhere before. I mean it has all clicked so to speak.

I wish to thank everyone, especially our host Todd, for making it all possible.

For now, should I win, which won't happen, I shall elect the option for Cash!

(then i can go around, once again, with loads of cash in my pockets. But it's ok, as i rarely leave the house.

Comment #511

ecnirP — Tue, 12 Jan 2016 01:00:59 GMT

Top Federal Tax Rate (Married Filing Jointly - mostly) for the Past 30 Years (and a few other reference points). Just in the past 30 years the top rate has ranged from 28% - 50%.

2015 39.6%

2014 39.6%

2013 39.6%

2012 35.0%

2011 35.0%

2010 35.0%

2009 35.0%

2008 35.0%

2007 35.0%

2006 35.0%

2005 35.0%

2004 35.0%

2003 35.0%

2002 38.6%

2001 39.1%

2000 39.6%

1999 39.6%

1998 39.6%

1997 39.6%

1996 39.6%

1995 39.6%

1994 39.6%

1993 39.6

Comment #510

Groppo — Tue, 12 Jan 2016 00:53:37 GMT

That's a darn good point. A darn good one.

Comment #509

jacintasc — Tue, 12 Jan 2016 00:37:56 GMT

I feel so ODD paying $2.00 for 1 ticket. In fact I've written a letter to my state lottery about this.

PB had to change the matrix because they were losing money and the jackpots weren't rising and on the verge of falling apart.

I do feel that MegaMillions will up their matrix. They have not had the Mega Jackpots they were expecting with the new change but I doubt they will go to $2.00

Comment #508

Teddi — Tue, 12 Jan 2016 00:35:39 GMT

Don't know if you got a reply but only the cash option locks you in to what the taxes are now. Annuities are subject to any changes in tax laws. You can expect that taxes will continue on their upward trajectory on federal and state levels. Actually, there doesn't even have to be a federal increase for you to pay more. Doesn't even have to be a statewide tax. Just has to be a tax on lottery winnings as one state has already done recently. Annuities always fall within that snare.

Comment #507

Teddi — Tue, 12 Jan 2016 00:29:07 GMT

I get what you're saying, and you are in fact one of the few people who would choose an annuity who has a valid argument. You at least recognize you will probably pay more in taxes later on with the annuity.

And I've also considered doing that for the same reason, but the thing I always come back to is this: I don't want to give a single cent more in taxes than I absolutely have to. Many states are imposing or trying to impose luxury taxes, high net worth taxes, additional lottery taxes. It... [ More ]

Comment #506

Illinoisdreamer — Tue, 12 Jan 2016 00:20:24 GMT

Not sure if poster your quoting has same line of thinking as me but

PB price increase has made Mega my preferred national jackpot game which I play when pot goes over 100M

$1 a line $2 a line

Sad thing is this jackpot is likely to make Mega follow suit soon enough and that will likely mean even less Mega/PB play from me

Cant afford to fit in 3 Lotto's weekly on my budget. I play $9 on Illinois Lotto + $2-20 on Scratch offs so spending $ on Mega/PB just a little to hard to justify... [ More ]

Comment #505

Groppo — Tue, 12 Jan 2016 00:14:05 GMT

.

Please, never think about skipping one or the other lottos.

They both go together like peanut butter and jelly.

Like Lucy and Ricky,

Like Beavis and Butthead

(hey Groppo, last week you were talking about quitting any lottos. What happened to that

Comment #504

jacintasc — Tue, 12 Jan 2016 00:12:07 GMT

50% tax! bummer

Comment #503

ohiopick3 — Mon, 11 Jan 2016 23:47:59 GMT

Hello:

I seen on newsnet5.com in Cleveland that the Fed is 39.6, they say Ohio state tax would be 5.33 and my local city tax is 2.5.

So it is actually 47.43 estimated. I just rounded it off to 48.

ohiopick3

Comment #502

edmunddantes13 — Mon, 11 Jan 2016 23:44:35 GMT

IIRC it doesn't work that way. Multiple accounts

FDIC insurance.

Comment #501

savagegoose — Mon, 11 Jan 2016 23:28:04 GMT

i go halves in 1 ticket ea draw guess im the only one playing

Comment #500

savagegoose — Mon, 11 Jan 2016 23:20:22 GMT

when confonted with such negative comments, say thats great, I didnt even buy a ticket

Comment #499

Lucki723 — Mon, 11 Jan 2016 23:13:12 GMT

If there is only 1 winner, he or she will also make the Forbes list .

Comment #498

BBLL — Mon, 11 Jan 2016 23:13:07 GMT

Just multiple accounts

Comment #497

frank0sport16 — Mon, 11 Jan 2016 23:09:54 GMT

Greetings ....

At first I thought about skipping Tuesday's Mega Millions to play extra Powerball numbers. Then I decided that I would stick with my pre-picked Powerball numbers and buy a couple of Mega Millions tickets. My reasoning -- if I happen to have a significant win on Tuesday's Mega Millions, then I'll get out early Wednesday Morning to play extra Powerballs.

Besides -- The Mega Millions $ 15 million annuitized jackpot may be modest compared to PowerBall's, but it would pay rent qu... [ More ]

Comment #496

jacintasc — Mon, 11 Jan 2016 22:59:06 GMT

I would be glad to do an episode featuring my new life with my new friend Oprah

Comment #495

ecnirP — Mon, 11 Jan 2016 22:50:32 GMT

There are three episodes listed for Saturday morning. Love that show. I particularly like the story of the youngest jackpot winner in Florida's history. After the deposit was made to his account, he said he spent the whole afternoon calling the bank's automated system, listening to his balance, hanging up, repeating. I could see myself doing that.

By the way, with ~6,900 banks in the U.S., and assuming we go back to $100,000 FDIC insurance, we're getting really close to not having enough bank... [ More ]

Comment #494

jacintasc — Mon, 11 Jan 2016 22:49:18 GMT

poorly, I bet. People are greedy by nature

Comment #493

Candy-Lane — Mon, 11 Jan 2016 22:37:12 GMT

Hi sirbrad!

I was thinking the same thing! Anyway, good luck

Comment #492

ecnirP — Mon, 11 Jan 2016 22:36:58 GMT

I wonder how sales of the $15M Mega Millions lottery are doing this week.

Comment #491

jacintasc — Mon, 11 Jan 2016 22:31:21 GMT

The guy that said he'd buy Hookers and Cocaine with his jackpot says he was just kidding. He said the news reporter kept interupting him from picking his numbers (which she clearly was) and he was just giving her a smart a$$ answer to her relentless questions

Comment #490

jacintasc — Mon, 11 Jan 2016 22:26:02 GMT

Even Better! and Thank You

Comment #489

frank0sport16 — Mon, 11 Jan 2016 22:24:31 GMT

Greetings ...

Actually, a jackpot of about $ 2.8-billion annuitized and $ 1.736-billion cash option could produce an after-tax billionaire (in Alabama at least) -- provided that no more than one ticket wins, or that the grand prize is not shared with a group.

I wonder how Dr. Carl Sagan would feel about folks playing for billions and billions of dollars!

Thanx-A-Lot, Frank0Sport16

Comment #488

Saylorgirl — Mon, 11 Jan 2016 22:24:29 GMT

Yes, you would have two separate lottery claims.

Comment #487

Albeone — Mon, 11 Jan 2016 22:20:31 GMT

That sounds like the best of both worlds to me.

Comment #486

haymaker — Mon, 11 Jan 2016 22:17:09 GMT

Don't see why not, it would be 2 different claims, you could even claim at different times.

Comment #485

jacintasc — Mon, 11 Jan 2016 22:15:38 GMT

The Lotter is still offline. Looks like it was too much for them

Comment #484

Albeone — Mon, 11 Jan 2016 22:14:45 GMT

On the question of annuity vs cash, what if for some strange reason you bet the same numbers twice and had two winning tickets. Could you claim one as an annuity and take the other one as the lump sum

Comment #483

haymaker — Mon, 11 Jan 2016 22:13:23 GMT

Do you happen to know the Delaware rate ?

Thanks.

Comment #482

Albeone — Mon, 11 Jan 2016 22:11:43 GMT

I believe Deleware does not deduct state taxes only 25% Fed tax. You would owe Deleware state tax and the 14% Fed when filing your taxes next year.

Comment #481

jacintasc — Mon, 11 Jan 2016 22:08:43 GMT

So , we need it to get up to about 3.5 billion so the winner can walk away with 1 billion after tax

Comment #480

Saylorgirl — Mon, 11 Jan 2016 22:07:11 GMT

In Indiana anyone claiming on the same ticket has to choose the same option. So you have to pick cash or annuity. It will be in your states rules and regulations for the lottery.

Comment #479

frank0sport16 — Mon, 11 Jan 2016 22:05:48 GMT

Monday Greetings To One All ....

Perhaps this has been mentioned already -- the annuitized jackpot is currently $ 1.40-billion, and the cash option jackpot is $ 868 million.

Based on those figures, if the annuitized jackpot reaches at least $1.613-billion by the close of ticket sales on Wednesday, then the cash option jackpot would be worth at least one billion $$ -- before the taxman comes calling of course.

TRIVIA -- According to older editions of the Guinness Book of Records, the

Comment #478

LottoLucy — Mon, 11 Jan 2016 21:59:40 GMT

Just FYI your state lottery determines if you can do this NOT the powerball people. So you would have to check with your state lottery.

Comment #477

jacintasc — Mon, 11 Jan 2016 21:42:55 GMT

Time for another cash advance or pawn something

Comment #476

winingbadger — Mon, 11 Jan 2016 21:37:30 GMT

Just saw your post after asking my question. Though that's what I think I would do. Just to be safe . As that would mean $200mil upfront after taxes and then $10ish mill increasing every year for the next 30 years.

Comment #475

winingbadger — Mon, 11 Jan 2016 21:33:28 GMT

Okay I recently joined after lurking, but with a now $1.4BILLION!!! jackpot I figured I'd join in on the convo. So my question, if you or anyone else knows, can a husband and wife claim both annuity and cash? So like the wife claims annuity on her portion of the ticket and the husband claims cash on his

Comment #474

ecnirP — Mon, 11 Jan 2016 21:21:16 GMT

Annuity: supreme trust in the government to live up to its obligations for 30 years without politicians deciding there's a better purpose for those funds

Cash: under my control

I did hear about a couple who claimed a jackpot, one taking the cash option and the other the annuity. If it's a big enough jackpot, it might be worth considering.

Comment #473

TheMeatman2005 — Mon, 11 Jan 2016 21:16:54 GMT

I went out for a walk Saturday and bought 4 - $2 tickets. One at four different locations.

At the last stop, I purchased a $5 scratch ticket as well. So, $13 spent in total.

I won $0 on the 4 PB tickets, but won $10 on the $5 scratch ticket.

I am going to cash the $10 winner and buy 4 more Powerball tickets, 1 Megamillions and 1 NYS Lotto ticket. Good luck to all...especially me!

Total out of pocket I am going to spend for PB tickets for Wed's drawing = $0.00

By the way...The new... [ More ]

Comment #472

jacintasc — Mon, 11 Jan 2016 21:15:11 GMT

Wendy Williams gave her studio audience all Powerball tickets today

Comment #471

haymaker — Mon, 11 Jan 2016 21:13:36 GMT

Thought you were there already.

Does Delaware tax lottery wins ?

Some say yes, but the jackpot analysis on USAmega shows no tax on lottery winnings.

Thanks.

Comment #470

haymaker — Mon, 11 Jan 2016 21:08:54 GMT

A little cold here but no snow.

Comment #469

Groppo — Mon, 11 Jan 2016 21:07:49 GMT

.

I've been thinking of annuity vs. cash payment.

Annuity:

more efficient spending of your doggone money

Cash option:

Will pretty much prevent the rare/unlikely event of an IRS computer getting a glitch, and erroneously printing some notice for you to report your local irs office.

Comment #468

DELotteryPlyr — Mon, 11 Jan 2016 21:00:45 GMT

Yea I got some extra time tonight so headed there now to get some tickets from there.