cash or anuity and what is the taxes % depending on the states

Reply #6

Romancandle — Sun, 10 Jan 2016 00:45:38 GMT

#7 Good grief call 911 right away... Unless of course they haven't signed the back of the ticket yet...interesting moral dilemma on your hands there

Reply #5

Murgatroyd — Sun, 10 Jan 2016 00:33:04 GMT

If someone promises you a 10% annual return for the next 30 years, check whether his name is Bernie Madoff.

If yes, call the police to report his escape.

If no, call the FTC to investigate him. He's either lying, insider trading, or running a Ponzi scheme.

Reply #4

ArizonaDream — Sat, 09 Jan 2016 02:46:59 GMT

1. Should they take cash or annuity?

I would take the annuity. I can manage dealing with the annual payment, but overwhelmed with the total all at once. Yeah, I know the usual arguments against this, but 496 million minus taxes is an insane amount of money and (see anwer to #4).

2. What is the advice next?

3. What is the tax rate? is it 40% and I know that every state is different in the country?

40% + state income tax, 0 in a couple of states, up to 10 or 12%, I think, in others.

Reply #3

KY Floyd — Sat, 09 Jan 2016 02:22:57 GMT

with a modest 10% return

If you're paid by the mile you must be rich, what with having driven all the way to the last millennium.

Reply #2

travelintrucker — Sat, 09 Jan 2016 02:18:10 GMT

Cash. If you invest $200 mil, with a modest 10% return compounded over the same time frame as the annuity, you'd end up with more money. The trick is getting a 10% return each year.

Reply #1

thebizdude — Fri, 08 Jan 2016 23:37:34 GMT

Take it all - before all states end up like Illinois handing out I.O.U.s - Unless you don't think you can't invest more wisely than the lottery is capable of. Don't tell anyone. Show up for press conference with a Nixon mask on. Who cares what the tax rate is, you're bloody rich. ??? The Lottery will probably not accept a winning ticket that has been drawn up with crayon. If you give money to anyone, they will resent you for it. Carry lots of lottery play slips and hand those out instead. All of... [ More ]

cash or anuity and what is the taxes % depending on the states

wander73 — Fri, 08 Jan 2016 19:39:14 GMT

So whoever hits:

1. Should they take cash or annuity?

2. What is the advice next?

3. What is the tax rate? is it 40% and I know that every state is different in the country?

4. Should the lottery winner trust anyone?

5. Of course no one has to give any money out to anyone but likely it could happen.

6. How much should you invest? make money on interest the rest of your life?

7. What if the person has a heart attack and what are the laws regarding every state