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Octogenarian Claims $254 Million Powerball Jackpot  
User currently offlineTedTAce From , joined Dec 1969, posts, RR:
Posted (7 years 7 months 3 weeks 13 hours ago) and read 1280 times:

Gee you think he's going to take the 30 year pay out plan?

http://www.msnbc.msn.com/id/16875722/

14 replies: All unread, jump to last
 
User currently offlineAloges From Germany, joined Jan 2006, 8707 posts, RR: 42
Reply 1, posted (7 years 7 months 3 weeks 13 hours ago) and read 1272 times:

Quoting TedTAce (Thread starter):
Gee you think he's going to take the 30 year pay out plan?

Is it inheritable?  Wink Congrats to him, he can do twice now whatever he saved his entire life for.



Walk together, talk together all ye peoples of the earth. Then, and only then, shall ye have peace.
User currently offlineNosedive From , joined Dec 1969, posts, RR:
Reply 2, posted (7 years 7 months 3 weeks 13 hours ago) and read 1267 times:

I find this story better:

Powerball man PWNED


User currently offlineAndz From South Africa, joined Feb 2004, 8453 posts, RR: 10
Reply 3, posted (7 years 7 months 3 weeks 12 hours ago) and read 1254 times:
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Quoting TedTAce (Thread starter):
Octogenarian Claims $254 Million Powerball Jackpot

Alanis Morrissette comes to mind..
"an old man, turned 98, he won the lottery, and died the next day.."



After Monday and Tuesday even the calendar says WTF...
User currently offlinePanAmOldDC8 From Barbados, joined Dec 2006, 960 posts, RR: 1
Reply 4, posted (7 years 7 months 3 weeks 11 hours ago) and read 1250 times:

Quoting TedTAce (Thread starter):
Gee you think he's going to take the 30 year pay out plan?

I read the story and it seems that his family and he won the jackpot, as they put the money in a pot and he placed the bet, so he will have to give it to the family as well as his wife and him. I say great for him and I hope that he enjoys it fully. Being playing the lottery for the last 40 years and have never won anything except $10.00



Barbados, CWC soon, can't wait
User currently offlineTedTAce From , joined Dec 1969, posts, RR:
Reply 5, posted (7 years 7 months 3 weeks 11 hours ago) and read 1240 times:

Quoting Nosedive (Reply 2):
I find this story better:

Powerball man PWNED

Yeah, it's absolutely tragic. Definately a cautionary tale of power (money) without wisdom.


User currently offlineBNE From Australia, joined Mar 2000, 3183 posts, RR: 12
Reply 6, posted (7 years 7 months 2 weeks 6 days 20 hours ago) and read 1173 times:

Do you have to pay any tax on lottery winnings in the US.

In Australia you only have to pay tax on the interest you might cumulate while the money seats in the bank but no tax is payable on the winnings.



Why fly non stop when you can connect
User currently offlineScbriml From United Kingdom, joined Jul 2003, 12566 posts, RR: 46
Reply 7, posted (7 years 7 months 2 weeks 6 days 20 hours ago) and read 1163 times:
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Quoting BNE (Reply 6):
Do you have to pay any tax on lottery winnings in the US.

The BBC's article on this story said that lottery winnings in the US are taxable income. Bummer.

Not taxable in the UK, but our National Lottery doesn't get prizes quite that big. The biggest so far was a roll-over of £20m+ (not that I'd complain if I'd had the winning ticket!)



Time flies like an arrow, but fruit flies like a banana!
User currently offlineKaddyuk From Wallis and Futuna, joined Nov 2001, 4126 posts, RR: 25
Reply 8, posted (7 years 7 months 2 weeks 6 days 18 hours ago) and read 1147 times:

Quoting Scbriml (Reply 7):
The BBC's article on this story said that lottery winnings in the US are taxable income. Bummer.

The US would tax you on death if they could!!!



Whoever said "laughter is the best medicine" never had Gonorrhea
User currently offlinePiercey From Sweden, joined Nov 2005, 2233 posts, RR: 1
Reply 9, posted (7 years 7 months 2 weeks 6 days 4 hours ago) and read 1117 times:

Quoting Scbriml (Reply 7):

The BBC's article on this story said that lottery winnings in the US are taxable income. Bummer.

It is an income and the US taxes income (same with if you won a house or a car, that's a boost in your income!)



Well I believe it all is coming to an end. Oh well, I guess we are gonna pretend.
User currently offlineFumanchewd From , joined Dec 1969, posts, RR:
Reply 10, posted (7 years 7 months 2 weeks 6 days 3 hours ago) and read 1110 times:

Quoting Andz (Reply 3):
"an old man, turned 98, he won the lottery, and died the next day.."

I hate that song. That's not irony just sh#t luck. Same with the rain on a wedding day. That's what happens when teenagers write their own music. She should have just let someone else write it just like all of the other teen bimbos.


User currently offlineSrbmod From , joined Dec 1969, posts, RR:
Reply 11, posted (7 years 7 months 2 weeks 6 days 2 hours ago) and read 1101 times:

Quoting TedTAce (Reply 5):
Yeah, it's absolutely tragic. Definately a cautionary tale of power (money) without wisdom.

It happens more often then you think, and it's usually the only time after the initial press circus that these folks make the news. There was a young woman here in the Atlanta area several years back whose portion of the Big Game jackpot was around 86 Million. She took the lump sum and hasn't been heard from since.


User currently offlineDougloid From , joined Dec 1969, posts, RR:
Reply 12, posted (7 years 7 months 2 weeks 6 days 1 hour ago) and read 1092 times:

Quoting Scbriml (Reply 7):
Quoting BNE (Reply 6):
Do you have to pay any tax on lottery winnings in the US.

The BBC's article on this story said that lottery winnings in the US are taxable income. Bummer.

Yes. It is considered income and rightly so.

Quoting Kaddyuk (Reply 8):

The US would tax you on death if they could!!!

We do that too.


 mischievous   mischievous   mischievous 


User currently offlineSlamClick From United States of America, joined Nov 2003, 10062 posts, RR: 68
Reply 13, posted (7 years 7 months 2 weeks 6 days ago) and read 1086 times:

Quoting BNE (Reply 6):
Do you have to pay any tax on lottery winnings in the US.

Take the cash buyout and you only get half the declared total. Taxes off that and he'd walk with something like a puny $88 million. On the other hand he is not likely to die broke, even at that.



Happiness is not seeing another trite Ste. Maarten photo all week long.
User currently offlineJcs17 From United States of America, joined Jun 2001, 8065 posts, RR: 38
Reply 14, posted (7 years 7 months 2 weeks 5 days 21 hours ago) and read 1066 times:

Yes, you have to pay US income taxes on all winnings. However, state income taxes vary from none to 8%+, so your best bet is to move to a state with no income tax.

I bought a few Powerball tickets and was quite distraught when I didn't win. My chances were only 5 in 120,000,000! I never play the lottery unless there is a jackpot over $200 million. I don't like to gamble, as I think it's a waste of money, but when that sort of dough is on the table I have to go for it.

I actually did a little bit of research and your best bet, by far and away, is to take the annual payments. There is about 50+ million left on the table when you take the lump sum. Plus, it makes it a bit harder to blow it all.



America's chickens are coming home to rooooost!
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