SIGforum
tonight's Powerball lottery, WI members check your tickets
March 21, 2019, 01:15 PM
FenderBendertonight's Powerball lottery, WI members check your tickets
Lump-sum cash: $380,600,000
24% Federal Tax - $91,344,000
That, is a tax bill.
___________________________
The point is, who will stop me?
March 21, 2019, 01:22 PM
ChicagoSigManquote:
Originally posted by FenderBender:
Lump-sum cash: $380,600,000
24% Federal Tax - $91,344,000
That, is a tax bill.
That's only the withholding tax.
The full tax will be based on the 37% top marginal rate and will be roughly $140.8 million. You have to make up the difference on the 2019 return.
But....SPOILER ALERT.....
You didn't win.
March 21, 2019, 02:37 PM
FredwardThanks, Bendable. A fun tool. Can anyone tell me what residency is based on for taxes? For example, can I move to Fl before cashing in and avoid Ky taxes?
March 21, 2019, 02:56 PM
Woodmanquote:
Originally posted by MNSIG:
quote:
Originally posted by Woodman: The Millionaire Lottery is one example. 500,000 tickets, $20 each, each ticket with a single unique number on it. Officials draw four numbers for four million-dollar prizes. In my backward way of thinking, that gives you four chances in 500,000 of hitting a million bucks. Lottery officials claim you have a 1/125,000 chance of winning.
Do we have a statistician in the house?
I'm not a statistician, but believe your analysis to be incorrect. Buying 10 tickets actually does give you a 10x better chance of winning, it's just that the odds suck so bad it's unlikely to matter.
ummm......4/500,000 is exactly the same as 1/125,000.
Maybe . . . but maybe not. I'm not sure statistical ratios "reduce" like normal fractions. But I never finished college.
Looks like lottery winners in PA will remain FOIA-accessible. (A bill in 2017 or so went nowhere). PA is losing money to Ohio and Delaware. But in general, Pennsylvanians are big lottery players.
March 21, 2019, 04:01 PM
MNSIGquote:
Originally posted by Woodman:
Maybe . . . but maybe not. I'm not sure statistical ratios "reduce" like normal fractions. But I never finished college.
Looks like lottery winners in PA will remain FOIA-accessible. (A bill in 2017 or so went nowhere). PA is losing money to Ohio and Delaware. But in general, Pennsylvanians are big lottery players.
They do. In the case you presented, the numbers are fixed and not "reset" after each draw. It's different when you are repeatedly flipping a coin. In that case, the next flip is independent of the previous results.
March 23, 2019, 11:42 PM
newtoSig765$750,000,000
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Every normal man must be tempted, at times, to spit on his hands, hoist the black flag, and begin slitting throats.
-- H L Mencken
I always prefer reality when I can figure out what it is.
-- JALLEN 10/18/18
March 23, 2019, 11:46 PM
cslingerIf I won this side of a billion I am buying a judge and maybe a congressman or two......possibly Nicaragua.
Take Care, Shoot Safe,
Chris
March 23, 2019, 11:50 PM
BeancookerMy wife bought a ticket. We would do the one time cash out.
Half to church and charities.
The rest to a modest, yet nice home paid off, step kids (her kids) set for life, grandkids set for life, a huge gun library, a nice road trip car, and a nicer off road vehicle. My current is awesome, but I’d love to have another 100 cc and a turbo. More than double the HP is never bad. =)
quote:
Originally posted by sigmonkey:
I'd fly to Turks and Caicos with live ammo falling out of my pockets before getting within spitting distance of NJ with a firearm.
March 26, 2019, 06:01 PM
bendablethis might be worthy of note , if and when you have more money than you can carry
https://www.operationfinallyhome.org/
Safety, Situational Awareness and proficiency.
Neck Ties, Hats and ammo brass, Never ,ever touch'em w/o asking first
March 26, 2019, 09:21 PM
hambonyIf I won this I would splurge and get the extra expensive stack on safe to keep it in. Oh yeah.
Houston Texas, if the heat don't kill ya, the skeeters will.
March 26, 2019, 11:30 PM
Sig Sauer Krautquote:
Originally posted by MNSIG:
quote:
Originally posted by Woodman:
Two dollars is my limit on these games. Statistically, the greatest increase in your chances of winning happen after you buy one ticket. Beyond that, there is no significantly greater benefit in buying ten tickets.
It's my belief that the Pennsylvania Lottery has misrepresented odds for years, in an attempt to lure the masses into playing. The Millionaire Lottery is one example. 500,000 tickets, $20 each, each ticket with a single unique number on it. Officials draw four numbers for four million-dollar prizes. In my backward way of thinking, that gives you four chances in 500,000 of hitting a million bucks. Lottery officials claim you have a 1/125,000 chance of winning.
Do we have a statistician in the house?
I'm not a statistician, but believe your analysis to be incorrect. Buying 10 tickets actually does give you a 10x better chance of winning, it's just that the odds suck so bad it's unlikely to matter.
ummm......4/500,000 is exactly the same as 1/125,000.
Well, to be fair... The first ticket increases your chances from 0% to slightly more than 0%, which is a larger percentage increase than the 2x slightly greater than 0% chance two tickets gives you.
March 26, 2019, 11:35 PM
SigJacketquote:
Originally posted by Beancooker:
My wife bought a ticket. We would do the one time cash out.
Half to church and charities.
The rest to a modest, yet nice home paid off, step kids (her kids) set for life, grandkids set for life, a huge gun library, a nice road trip car, and a nicer off road vehicle. My current is awesome, but I’d love to have another 100 cc and a turbo. More than double the HP is never bad. =)
Income investing, donations can continue long after you are gone.
March 28, 2019, 02:02 PM
bendableNo expression's of elation from the forum members in wisconsin ?
Safety, Situational Awareness and proficiency.
Neck Ties, Hats and ammo brass, Never ,ever touch'em w/o asking first
March 28, 2019, 04:12 PM
C-DubsI'll admit, it piqued my interest when I first saw it was a WI winner.
Checked my ticket, and wahh-wahh, I had but one of the numbers.
Ticket was sold up near Milwaukee. Store gets 100k. Happy for them, and surprised it was actually won by a Wisconsinite, instead of NY, CA or FL for a change.
“I won't be wronged. I won't be insulted. I won't be laid a-hand on. I don't do these things to other people, and I require the same from them.” March 28, 2019, 07:10 PM
RHINOWSOquote:
Originally posted by Fredward:
As an annuity, that's about 1.34 million a month for 25 years. Unless I can't count.
Only chumps take the annuity - you trust the state is gonna have that money in 10-20 years?
No fucking way. Lump sum all day and twice on sundays.
March 28, 2019, 07:48 PM
kkinaYou can always buy a commercial annuity with all or part of the lump sum, and almost certainly get a better rate anyways.