DemonGeminiX (01-20-2021), FBD (01-21-2021)
PorkChopSandwiches (01-20-2021)
It looks like there was a jackpot winner for the Powerball in Maryland.
Warning: The posts of this forum member may contain trigger language which may be considered offensive to some.
Music was better when ugly people were allowed to make it.
$730? Holy shit. I know there's a reduction on US lottos for taxes and if you take the lump, but that'll still clear what, $300 mil+?? Insanity.
It's $730 million if it's accepted as an annuity, paid out over time (30 years, I believe). $546 million if taken as one lump sum. Either way, I believe it's taxed as income in the highest bracket, something like 39%. Plus, there's state and local taxes, depending on your locality.
Warning: The posts of this forum member may contain trigger language which may be considered offensive to some.
Music was better when ugly people were allowed to make it.
From what I understand, the Feds will take 25% right off the top to withhold in Federal income tax. You would owe the balance at tax time. Plus the state will want their cut at tax time too, and that varies wildly from state to state. Here in Colorado it's a flat rate of 4.63% regardless of your tax bracket. The current top Federal rate is 37%. So a winner of that jackpot in Colorado would take home $318.7 million after taxes as a lump sum. Not too shabby.
DemonGeminiX (01-21-2021), FBD (01-22-2021), Godfather (01-21-2021)
Ya that'll do just fine
DemonGeminiX (01-21-2021), FBD (01-22-2021)
Updated for tonite :
lost in melb. (01-23-2021)
We have no lottery tax
Looks like the OZ lotto is up to $20 million, and the highest Australian jackpot ever was $150 million in 2019. I wouldn't mind $150 million, but $1 billion is far better.
Warning: The posts of this forum member may contain trigger language which may be considered offensive to some.
Music was better when ugly people were allowed to make it.