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So what are you going to do when / if you win the $1.3 Billion Powerball Lottery on Wed 13 January

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Pronto said:
It's gambling winnings not income. What you pay taxes on is interest, dividends and capital gains.
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with that much money, i wouldn't have any money anywhere that could pay me interest or capital gains... i wouldn't need that income, so the bankers could bite my ass. i'd keep enough in a checking account to live off of, with the rest safely hidden somewhere in a form that isn't vulnerable to the whims of bankers.
 
Right, you're not avoiding paying taxes on gambling income. Earned income is different. Wasn't a well thought out response.
 
Would definitely quit work and move out of the state and give some to my family and close friends. Buy some land, build a modest house, bitchin garage, my own drag strip and road course, buy a few cars (Koenigsegg Agera RS, Ferrari F40, GNX, Delorean with an LSX, couple others), and complete my bucket list of things to do and places to see.
 
Who cares what the taxes are. 1.5 B.
Plus I would feel satisfaction knowing my taxes will go to pay for all the lazy asses and there free smart phones and 2014 Yukons they drive......lol
 
I would donate just enough money to a university to get a building named after me.
 
Anyone who wins and their life and family falls apart was a fuck up to begin with.

I’d like a chance at it to see how I’d fair.

For purely scientific purposes only. :D:D:D

D
 
EVIL said:
Anyone who wins and their life and family falls apart was a fuck up to begin with.

I’d like a chance at it to see how I’d fair.

For purely scientific purposes only. :D:D:D

D
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Me too! I think i could tough it out and do fairly well. ;):D
 
Honestly, I'd be happy if i won $50! But, if I won anything remotely into the millions I would be thrilled!
I'd pay off debt, pay off my parents house and buy them their dream cars and a nice vacation around the world...
I'd invest the majority of the money and retire right away.

With that sort of dough I think I'd be able to afford all of the hobbies and toys any of us would want.

And of course, with all that cash, I'd want to look into becoming a philanderer. :D
 
at 1.4 Billion, 40% off the top for fed tax, and another 20% for state tax, leaves you 560 million.
so almost 1 BILLION in taxes!!!!!!!!!! NOW your getting royally screwed!
but 560 M is probably enough, LOL guess I could buy a few more GNX's ( or maybe ALL of them!)
 
I'd also me some hot pieces of ass that are way to young for me that would love me for my money. My girl should be alright with that.
Man would they earn that money the hard and vial way lol.

D
 
You probably have to pay taxes in the state the ticket was purchased in. If you took the lump sum $930 mil last I heard you would pay at the 39.5% fed rate and the highest state tax rate (NY) was under 10% so you would get over $465 mill after taxes.
 
DavzGN said:
You probably have to pay taxes in the state the ticket was purchased in. If you took the lump sum $930 mil last I heard you would pay at the 39.5% fed rate and the highest state tax rate (NY) was under 10% so you would get over $465 mill after taxes.
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that is just about enough to retire on, maybe.
 
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