EuroMillions at 130 million Euro'sPrev Topic Next Topic

New Topic New Poll

petergrfn

United States
Member #26,329
November 16, 2005
330 Posts
Offline

Sep 24, 2008, 3:01 pm

That's quite a chunk of change TAX FREE! I would like to be able to have a crack at that. That comes to almost $200 million US. Anyone know what the Powerball or MegaMillions would have to be for a $200 million Cash Option payout?? I think it would have to be over $500 million or so..

That would be awesome though. To have $200 million tax free and be able to keep your privacy! I would stick it in some safe investments (Very Low Risk) and head for the Bahama's!!!

What would you do??
crystaltips

London
United Kingdom
Member #58,576
February 20, 2008
51 Posts
Offline

Sep 25, 2008, 3:45 pm

Quote: Originally posted by petergrfn on Sep 24, 2008
That's quite a chunk of change TAX FREE! I would like to be able to have a crack at that. That comes to almost $200 million US. Anyone know what the Powerball or MegaMillions would have to be for a $200 million Cash Option payout?? I think it would have to be over $500 million or so..

That would be awesome though. To have $200 million tax free and be able to keep your privacy! I would stick it in some safe investments (Very Low Risk) and head for the Bahama's!!!

What would you do??

I am from London and I am having a slice of that! It's 100.000 pounds! I am buying a house in the US if I win. I can't wait. I can't think what numbers to choose. The odds of winning are 76,000.00 to one.

*dreams of coming to America if she wins!* :)

"Depend on the rabbit's foot if you will, but remember it didn't work for the rabbit." - R. E. Shay.
JackpotWanna

United States
Member #4,121
March 23, 2004
819 Posts
Offline

Sep 25, 2008, 5:26 pm

WOW! $200 Million and tax free. Buy me a nice house and nice threads. Eat like a King every day and exercise every night. lol
Todd

50

Chief Bottle Washer

New Jersey
United States
Member #1
May 31, 2000
27,937 Posts
Online

Sep 25, 2008, 6:45 pm

<Moved to Jackpot Games forum>
Please post in the appropriate forum ... thank you.
savagegoose

adelaide sa
Australia
Member #37,135
April 11, 2006
3,341 Posts
Offline

Sep 25, 2008, 7:10 pm

i hada look online to buy euro mill tickets seems they wantme to buy 5 lines thats a little pricey for me. a quick check if currency converters shows its equal to $227 mill australian dollars, almost a 1/4 bill in local scratch. :)

anyhow anyone here buy euro million online and where do you get em?

" Still swinging, still missing "
2014 = -1016; 2015= -1409; 2016 = -1171; 2017 = -1257 ; 2018 = - 1380 = TOT = - 6233

keno historic = -2291 ; 2015= -603; 2016= -424; 2017 =-427; 2018= -223 TOT = -3968

:
Jimhowlett

Northern Ohio
United States
Member #63,549
August 1, 2008
203 Posts
Offline

Sep 26, 2008, 4:34 pm

I live in Ohio, and your state may be different, but here's what I do to figure out how much I would get after the cash option and taxes:

-simply calculate 40% of the jackpot.

-in other words, 10% of the jackpot times four is what I do.

So $500M is $50M (ten percent) times four=$200M after cash and taxes.

The cash option of the MM jackpot is just about exactly 60% of the jackpot; federal taxes on the remaining JP are 25%; Ohio State tax is 5.75%. Local taxes are negligible.
DC81

MI
United States
Member #54,828
August 31, 2007
985 Posts
Offline

Sep 26, 2008, 5:50 pm

That's basically what I do, even though with Michigan the state tax is 4.35% I just round it up with the initial 25% to make it an even 30%. Then add the additional 10% to get what the taxes might end up being in the end. It's a little higher than what the actual amount might be, but I'd rather over estimate than under estimate. A lot easier to do in your head too.

You can't predict random.

New Topic New Poll

Subscribe to this topic

EuroMillions at 130 million Euro'sPrev TopicNext Topic

EuroMillions at 130 million Euro'sPrev Topic Next Topic