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Do you play alone or in a pool?Reply
I didn't realize you were calculating on an annuity prize of $100 mil. Thought that was cash value. In that case, like you said, the cash prize split 10 ways would be approximately 6.5 - 7 mil before taxes. When someone wins, the lottery takes out only 25% of the taxes due to the IRS (and a portion of state taxes) and you are responsible for the balance. The maximum fed tax is 39.6% less the 25% leaves you owing 14.6% come April 15 the following year. In NY State, the tax rate is 8.82%
Jun 13, 2016, 2:23 pm - TheMeatman2005 - Lottery Discussion Forum

if you won over $70 mil- would you settle for the lump sum or annual installmentsReply
anyone who picks the annual is a moron there beyond to many smart people who can handle money for u, large investment compies , they just charge u more if your to dumb 2 think for your self but vest majority of them will even tell u take the cash why is simple, US t bill rates are godly LOW thats what lottery annual installments is, just Freaking special T bills what does that have over taking CASH money all at once, is the fact all money gets INVESTED pre tax levels, and
Mar 7, 2013, 1:57 pm - joshuacloak - Lottery Discussion Forum

taxes on lottery winnings :(Reply
You've filed a tax return in the past and either owed a bit or got a refund, right? Just like it is with an employer, the 25% is only what the state withholds from the payment and sends to the IRS. Withholding 25% is a simple cookie cutter approach designed for much more average incomes. As Uff Da notes, you can reduce your tax obligation (and how much you put in your pocket) by making charitable contributions, but as a practical matter anyone who wins several million will be in the 35% bracket
Feb 6, 2012, 12:47 am - KY Floyd - Lottery Discussion Forum

One more annuity vs cash discussionReply
A large factor comes down to the age of the person. Taking an annuity at 80 makes no sense. Take the cash, spend it fast, and heck with the grandkids inheritance. rdc127 I once wrote something similar to your first sentence, that age is a factor. However, I would never just spend my money wildly without helping my family. I don't have children. But if I were 80 and had a son, I hope I would trust him enough to claim the prize and promise me he would choose the annuity, or at least set
Jan 15, 2007, 4:29 am - justxploring - Lottery Discussion Forum

To my fellow LP membersReply
Bartista Express writes: But jim695, do you know what's so disheartening to me? It's the fact the owner (chief bottle washer) of this community has decided to tell CashOnly not to mention anything about what he has been saying all this time ever again, if he wishes to be taken seriously ever again! Please correct me if I'm wrong. I thought our chief bottle washer was supposed to be unbiased? And if so, from what I just read, that seems not to be the case at the present moment! Maybe ou
Dec 19, 2006, 9:23 am - fja - Lottery Discussion Forum

Which is best, Lump Sum vs Annuity? (Super Lotto!)
I am 42yo, I have not won, but I play sometimes for fun, then I started to think which one would I choose. Lump Sum or Annuity? What about you guys? We all claim to be good investors, even me, but 70% of people who win loose their fortune within the first 3-7 years. That is something to consider. After crunching the calculator to death I think that annuity payments might give me a better return. What do you guys think? Hypothesis: 1-2 1) If I win 26M Jackpot and choose the lump sum
Apr 5, 2017, 5:32 am - Timber! - Lottery Discussion Forum

DO you really lose money if u take the annunity over the lump sum?Reply
Your tinfoil hat needs adjusting, possibly repair. Just to expand upon Coin's post regarding the difference between the cash value and the estimated annuitized jackpot : The lump sum exists regardless of the payment method the winner chooses. It's either paid out immediately or used to fund the annuity. The rest of the money, of course, comes from the interest that builds up on the principal over the years. The reason why it takes a couple weeks to receive your money -- again, regardless of l
Aug 12, 2012, 6:43 pm - mediabrat - Lottery Discussion Forum

$218 MILLION: Powerball lottery jackpot increasedReply
you got that right mightwin, always compare the cash, as powerball just puts their in govt bonds longer to appear bigger thro 109m cash jackpot m sure would be nice to bring to lawyers office , thro its nonething compared to Mega millions Cash jackpots of 240m and 203m we just had this year by the way, powerball biggest ever cash jackpot amount was 177.2m cash , february 18, 2006, yet marketed as $365 million, rather sad when MM beats Powerball Cash Record Twice in 1 year within
Apr 3, 2011, 11:01 am - joshuacloak - Lottery News

Option for annuity vs. lump sum on lesser prizes?Reply
https://www.lotterypost.com/search?q=annuity+vs.+lump First always talk with tax professional. For STATE jackpot lotteries and scratchers, it is a tossup. Unless your yearly payment is 1MIll+, lump is usually best for tax reasons. Smaller amounts, tax difference savings will probably be better then (guaranteed) investment income to get annuity. Also need to consider, is it enough to quit job and retire, your age (are you going to die before it cash it all), do you have massive debt that ne
Sep 20, 2018, 11:28 am - Sarge0202 - Lottery Discussion Forum

Hi - I'm back after 8 yearsReply
Hey there derek7! Well computerized drawings are still a nemesis - Illinois did it for their draw games and really got downgraded on the LP report card. With a few current scandals you can't blame anybody for not liking them. For the most part the most common thread topics in Discussions are cash vs annuity, QP vs self picks, the regular frenzy when a jackpot gets huge (cars, mansions, etc...), Steve Player, Gail Howard, Richard Lustig, etc...etc...
Feb 10, 2016, 10:09 am - Coin Toss - Lottery Discussion Forum