https://www.lotterypost.com/thread/112895 Lottery Post Forum Topic: Powerball Taxes en-us Lottery Post RSS Generator https://www.lotterypost.com/thread/112895/382720 https://www.lotterypost.com/thread/112895/382720 Sun, 15 May 2005 08:03:36 GMT danisiri I think the statement is a little misleading. By my understanding, the 15% tax rate applies to capital gains seen on investments held over 366 days. Any interest income (for example interest earned on a bond) is taxed as regular income at whatever tax bracket you fall into - unless of course you can keep your investments within those that are exempt from federal, state, and local tax, as well as the AMT (alternative minimum tax). Many municipal bonds fall into this category, depending on what... [ More ]

]]> danisiri https://www.lotterypost.com/thread/112895 https://www.lotterypost.com/thread/112895 Sun, 15 May 2005 05:58:02 GMT erobinson32 In an OLD post I found reads... The next PowerBall drawing is for $83M, so 55% of that comes to $45.65M. Figure 32% of the remainder goes to state and federal coffers, and you still have $31,042,000.00 in cash. Invested at five percent, that will yield a gross annual income of $1,552,100.00. Now, however, you've satisfied the federal requirements for long-term capital gains, so your federal tax is capped at 15%. Even if your state tax is 8%, you'll still net nearly $1.2M a year from your invest... [ More ]

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