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You win the powerball or mega millions, Taxes owned??

Topic closed. 17 replies. Last post 3 years ago by Toronto.

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CDanaT's avatar - tiger avatar_04_hd_pictures_169016.jpg
TX
United States
Member #121193
January 4, 2012
1637 Posts
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Posted: January 18, 2014, 3:57 pm - IP Logged

HA HA HA HA....sorry about that MIT....was rounding up .4 to keep it simple and make a lil hidden stash for myself for fun n guns

Stay Positive, Believe and good things will come your way

    mikeintexas's avatar - tx avatar-1.gif
    Texas Panhandle
    United States
    Member #136843
    December 20, 2012
    1262 Posts
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    Posted: January 18, 2014, 4:50 pm - IP Logged

    HA HA HA HA....sorry about that MIT....was rounding up .4 to keep it simple and make a lil hidden stash for myself for fun n guns

    Aw, good that you know I was just joshin' ya. 39.6% is outrageous!  Good Grief, even God wants just 10% from us.  Uncle Sam ain't my favorite uncle these days.

    .4% for fun 'n guns, huh?   Yep, I'd definitely be roundin' up for those worthy causes; I'd prob. add a percentage or two to that particular fund.  I've had people ask me why I play the lottery and I tell 'em I want enough money to buy a tank.  "What on Earth would you do w/ a tank?" they ask.  "I don't want a tank." I reply. "Just want enough money to be able to buy one."  Still, a tank might be nice, y'know?  Park it in your back yard, point the huge gun right at your neighbor's yapping dog, drive it during rush hour and watch people get out of your way, never worry about getting stuck in a snow bank, etc.

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      United States
      Member #135804
      November 29, 2012
      318 Posts
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      Posted: January 18, 2014, 7:30 pm - IP Logged

      If I moved to Alaska during 2015, and live there for a total of 183 days. I would not file a state return nor pay state income tax for 2015.

      You could also move to Florida and Nevada and not need to tax state income too. Or better yet, you can live in Puerto Rico 183 days out of the year and be exempt from paying federal tax on investment income. http://www.puertoricoistheanswer.com/attraactingthewealthy.html

      Any income sourced outside of PR is taxed, so the 1st year you will have to pay.