1.4 BILLION Powerball

[OakleyFrankFMJ]

What's the tax bill on a $1.5B Powerball win?

Yup. So when I win I'll just give you my ticket to cash it in. Oh wait. Had to be bought where you live. Oops.

 

[Duke Nivram]

Yup. So when I win I'll just give you my ticket to cash it in. Oh wait. Had to be bought where you live. Oops.

I will still take it

 

[OakleyFrankFMJ]

I will still take it

TWSS.

 

[QLR1]

I'm just curious. I know the FOUKER already knows this.

But does anyone realize how much they would actually take home with the cash payout after all is said and done? It's NOT 930 million.

I know roughly how much. Just curious if anyone else realizes how bad it is?

You will likely end up with less than half the prize. May as well take the annuity.

 

[Rustpot]

Put $10 on it. First time I've ever played the lotto, minus some scratchers I got for Christmas some several years back.

 

[kronin323]

Yup, it's good to live in Texas...

 

[QLR1]

Yup, it's good to live in Texas...

No income tax there

 

[OakleyFrankFMJ]

If I still lived in NY I would go to NJ just to buy those tickets. Screw NY tax.

Get hit with fed. Then state. Then city too.

 

[hereispunishment]

I heard on the radio today that if you purchased every possible number combination you would spend a little over 500 million. Which in theory would mean you would make a little over 200 million in profit. But of course, you pray that your the only one who hits the jackpot. ( which they said is a 20% chance). So with that... who's willing to go in with me? @kronin323 ... I'm sure you could concur this fact

 

[kronin323]

I heard on the radio today that if you purchased every possible number combination you would spend a little over 500 million. Which in theory would mean you would make a little over 200 million in profit. But of course, you pray that your the only one who hits the jackpot. ( which they said is a 20% chance). So with that... who's willing to go in with me? @kronin323 ... I'm sure you could concur this fact

Yep, but aside from the risk of splitting the jackpot, there's another problem with that idea - logistics. Do you have any idea how long it would take to fill out and purchase 500 million tickets? If you could fill out and purchase one ticket per minute and work 24 hours a day, it'd take almost 16 years...

Then there's the whole storing and organizing those 500 million tickets, then digging out the winner...

EDIT - oh wait, $2 tickets, so 250 million tickets / almost 8 years... but you won't be able to do them 1 per minute 24 hours a day anyway, so it'd be longer...