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-   -   22 year old wins 18.7M Powerball Lottery (Pic) (https://gfy.com/showthread.php?t=443413)

Tania 03-13-2005 11:33 AM
fucking lucky bastard...
me I never win at lottery :(

pornguy 03-13-2005 11:34 AM
He could actually do well just putting the lump into a CD in a bank getting about 5%. Since the amount that he will put in is high, he can probably get them to give him a better %. The problem that mpst people face, is that they think that they can have anything that they want. And then they dont know how to pay the tax's on it all. They foget about that. They buy a 1 or 3 million dollar house, and a few 200k cars, and a few homes for friends. And then tax season comes, and they go. DAMN How the fuck do I pay this.

StuartD 03-13-2005 11:39 AM
Quote:
Originally Posted by Ron Bennett
If he takes annual payments, he'll get somewhere around $440K per year after federal tax.

If he takes the lump sum, he get somewhere around $7.3 Million after federal tax.

Now here's the part that really sucks for him ... Idaho is among the few lottery states that also taxes lottery winnings at the state level to the tune of 8%!

So the above stated amounts are reduced a bit more ... annual further reduced to around $400K and lump sum further reduced to around $6.7 Million.

Despite the big tax bite ... bigger than many folks may realize ... he's still getting a lot of money ... hopefully he has better luck with his money than Jack Whittaker had.

Ron


Ron
Oh wah.... cry me a river. "I only get $6.7 million... it's not even worth winning!"

I'm glad when I win $10 on the lottery. They can take $22,999,990 of the winnings and I still come out a winner.

People who cry "it's all gone in taxes anyway" annoy me. You won the friggin lottery. It's free money. You had $100 to your name, you now have almost $7 million. So what the gov't took a big chunk. YOU WON!!

rowan 03-13-2005 12:16 PM
Quote:
Originally Posted by NichePay - StuartD
People who cry "it's all gone in taxes anyway" annoy me. You won the friggin lottery. It's free money.
It's not free money, since by definition the winner has purchased at least one ticket. Probably several over their lifetime. Again by definition the average result of a lottery is a loss for the ticket purchaser. :winkwink:

I'm pretty sure that in AU lottery winnings are untaxed. MmmMmMM.... :upsidedow

Chris 03-13-2005 12:21 PM
if he takes the lump sum of 10 mill
he will only pocket around 6 mill or so after taxes

i seriously hope it is smart with it and has SOMEONE who knows what they are doing with money

but we know how this shit goes

no one smart ever wins the lottery lol

slipkid 03-13-2005 12:27 PM
Maybe he'll start a new line of choppers?

$5 submissions 03-13-2005 12:33 PM
Quote:
Originally Posted by imafuckingaussie
Nice fucking win, do you Americans have to pay tax in the winnings?
Yep. But supposedly it's bigger if you take a lump sum payout.

mardigras 03-13-2005 12:39 PM
He looks older than 22.

Most 22 year olds are too young to make that money last :upsidedow

Farang 03-13-2005 12:49 PM
haha, lucky bastard :1orglaugh

MrIzzz 03-13-2005 01:14 PM
awesome news, i'm always happier when someone young wins it. who the fuck cares if they blow it in a year, at least they'll know how to enjoy it. i'm tired of 70 yr old geezers winning lololol

emthree 03-13-2005 01:17 PM
wow hope he knows how to balance his $$$
Being in the media w/ 18MIL is not exactly the best way to collect :(

adamneve 03-13-2005 01:19 PM
no more problems at 22

AlexisWeb 03-13-2005 01:53 PM
Good for him!

It's nice to see someone younger winning for a change :)

fl_prn_str 03-13-2005 08:06 PM
he will be getting calls from long lost brothers very soon..... :1orglaugh


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