/biz/ - Business & Finance

Damn, I feel bad for you, I'm already scheduled to win that one

>>50630474
don't do it dude

The person who in their heart of hearts pledges to restore the cult of Helios to its former glory will win. It is prophesized.

>>50630503
Sorry Anon it was predestined for me to win. I won't get in your way of the next one.
>>50630512
I have to.
>>50630538
You know it. though, historically, it's just random normies that win.

>>50630474
>$1.1 billion?
>that is a great opportunity to win $648.2 million
>how will you enjoy your $300M after tax?

>>50630612
Kek, honestly one of the greatest scams of all time

>>50630612
It's $375m after tax on the lump sum, 640m after tax on the annuity. But, if you take the annuity, it pays out over 30 years. 375 million in a 4% index fund is 1.2 billion after 30 years.

The lottery is an open scam to all that participate in it, but the winner, even after taxes, only paid $2 for the 300M

>>50630474
I am going to pick up a few more tickets on my morning walk. Before all the wagies come out of work and clog the lines.

>Paying the idiot tax

>>50630474
If I can just make it to page 10 I’ll be free!

>>50630612
>>50630656
Wait how is it possible for 1 billion to go down to 375 million?

>>50633109
I just spent the money I was going to spend on a soda at the gas station. At least this ticket won't make me any fatter.

>>50633290
The Cash Option is the approximate value of the jackpot after a 37% federal tax deduction, but it's not *actually* that, officially. It's a completely different award. Because of this, the federal government taxes the 648 million as if it hasn't been taxed yet, and 648 million puts you in the highest earning bracket of 37% income taxation. At the current value it's 408 million after that taxation, not 375, my other post was using the jackpot amount from Wednesday.

If you take the annuity you get the full 1.1 billion written out in checks over 30 years, but again, the income tax would put it to 648 million. If you claim it as a 501c(3) tax exempt organization you would receive the full amount of either option you take.

My family owns a 501c(3) but it's an actual church and while I want to win the lotto I don't want to go to hell sheltering gambling money from taxes using a church, so I'd just eat the taxation.

>>50633377
Insane, no wonder lottery winners lose the money so fast, they barely get anything in the first place. Almost 60% in taxes like what the fuck is it being used for?