Search

Poll: Classic Mega MillionsReply
We're getting fewer winners with smaller prizes... In August of 2017 a $350M jackpot would have have given the winner $216M before taxes $162M after taxes in California. That's $0.46 on the dollar take-home. On 11/27/2023 the PB jackpot is $352M.... with a cash option of $163M before taxes about $103M after taxes in California.. That's $0.29 on the dollar take-home. That's a difference of $53M on the pre-tax $59M on the post-tax payout... So where the hell is that e
Nov 26, 2023, 12:13 am - Rexer90 - Lottery Discussion Forum

2024 tax rates now published at USA Mega
Both the federal tax rate brackets and the state income tax rates used for the Powerball Jackpot Analysis and Mega Millions Jackpot Analysis pages at USA Mega have been updated to the latest 2024 rates. Federal tax bracket changes happen every year, with the IRS adjusting each bracket upwards slightly to account for inflation. For a lottery jackpot winner claiming millions in income this results in a minuscule change in taxes paid, but the adjustment at USA Mega does make it exact. For s
Jan 1, 2024, 10:56 am - Todd - Lottery Discussion Forum

When is the right time to hang your lottery boots?Reply
Here is an alternative to quit playing the lottery. Spend a lot less money by joining a pool. For the current series of Mega Millions draws, I have been spending only 35 cents per draw. The pool is buying 20 tickets per draw. Not a lot of tickets but still enough to win. My share of the jackpot for the Friday draw is $3 million. This is the cash value and before taxes.
Mar 6, 2024, 1:36 pm - winoneday - Lottery Discussion Forum

Poll: Classic Mega MillionsReply
MM cash value for Tuesday draw is $175.4 million. That's enough for me. In fact, at my age, $1 million ($630,000 after fed taxes) is enough for me. Yeaa, but will it be enuf AFTA You factor in MY Muhammad Ali cut... Howard Cosell ?
Dec 4, 2023, 1:17 pm - Stat$talker - Lottery Discussion Forum

Poll: Classic Mega MillionsReply
Get your point. But...interest rates control the difference between annuity prize and cash value prize. MM cash value for Tuesday draw is $175.4 million. That's enough for me. In fact, at my age, $1 million ($630,000 after fed taxes) is enough for me.
Dec 3, 2023, 12:00 pm - rcbbuckeye - Lottery Discussion Forum

What type of lottery winner would you be?
Let s assume that you win big on the lottery, by winning big I assume over 50 million after you have paid all taxes. What type of winner would you be? Would you be the type that wants financial security in the money? Hurray!!! I won 50M but will still drive my 1950 Toyota, live in my 1940 mobile home that I got for 25K. These are the type of winners who don t want to touch the money, all they want is the financial security that the money provides but they don t want to spend even a dime
Nov 17, 2023, 1:18 pm - JustMaybe - Lottery Discussion Forum

The Idiot TaxReply
Ignore the little jack asses that live in your head, they get everything wrong, they say. Doesn't matter where the taxes come from, property, sales, income, lottery, when have you last seen your tax dollars at work? The pot hole is still there, but they added a speed bump. That's about all government is, a bump in the road. BobP Excel at PE if you want to earn a living throwing things.
Apr 2, 2024, 1:23 am - BobP - Lottery Discussion Forum

Interpretations of Wagers Made And PrizeRatio/ WinningsReply
I guess it depends on what you did with the 4k. If you spent 8k, and the 4k win was subject to taxes, then the profit would be lower than 4k. If the tax was say 1k, then your profit is 3k, and your net loss would be 5k. (8k - net profit of 3k) If you throw the 3k back in and come up dry, then your out of pocket expenses remain -8k, but the total loss is -11k, and only the IRS won the 1 k tax payout.
Feb 2, 2024, 4:30 pm - hypersoniq - Lottery Discussion Forum