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Powerball 325 million dollars
Posted by: bought mine in Maryland ()
Date: November 24, 2012 10:03PM

400 million if no winner.

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Re: Powerball 325 million dollars
Posted by: where the taxes go ()
Date: November 24, 2012 10:19PM

Obama wants his cut for more obamaphones and illegals in luxury condos

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Re: Powerball 325 million dollars
Posted by: monkey man ()
Date: November 24, 2012 11:35PM

If I win, I swear I will shit in my hand and throw it at my boss.

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Re: Powerball 325 million dollars
Posted by: Lester ()
Date: November 25, 2012 10:44AM

It's over 400 million.

Maybe I should set up one of those kettle stands like the Salvation Army to collect money for a pool.

If I win, I would pay nearly 5 million dollars to Obamacare.

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Re: Powerball 325 million dollars
Posted by: Joe Bigbucks ()
Date: November 25, 2012 11:11AM

I would donate all my money to the Gerry Connolly for President fund. He can run this country into the ground faster than anyone I know. I mean why wait we are only prolonging the inevitable.

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Re: Powerball 325 million dollars
Posted by: Olde Farte, II ()
Date: November 25, 2012 12:08PM

Lester Wrote:
-------------------------------------------------------
> It's over 400 million.

In Virginia it's about $168 million after the (current) full tax hit.

The computation is about 0.5925, plus or minus, times the whatever the lump-sum cash prize amount is.

---------

0.5925 = (1.0 - [CurrentMaxFedTaxHit] 0.65) - (1.0 - [CurrentVirginiaMaxTaxHit] 0.0575)

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Re: Powerball 325 million dollars
Posted by: Olde Farte, II ()
Date: November 25, 2012 12:10PM

Ahem - the whole comptuation is wrong so just forget the part below the "----"...that's what I get for typing on the fly rather than thinking, huh?

Lol!

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Re: Powerball 325 million dollars
Posted by: Lester ()
Date: November 25, 2012 01:27PM

It's currently .65. It depends on the annuity interest rate over 29 years.

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Re: Powerball 325 million dollars
Posted by: Olde Farte, II ()
Date: November 25, 2012 02:40PM

Lester Wrote:
-------------------------------------------------------
> It's currently .65. It depends on the annuity
> interest rate over 29 years.

The number in my post - 0.5925 - takes into account the (current) maximum Virginia tax hit as well.

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Re: Powerball 325 million dollars
Posted by: Olde Farte, II ()
Date: November 27, 2012 02:31PM

bought mine in Maryland Wrote:
-------------------------------------------------------
> 400 million if no winner.


Now up to (fake) $500 million prize, about $327 million lump-sum pre-tax.

After taxes for a Virginia taxpayer that's about $194 million.

Ooof!

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Re: Powerball 325 million dollars
Posted by: hardworker ()
Date: November 27, 2012 03:20PM

Federal marginal rate = 35%

Va top rate = 5.75%

You get to keep approx. 59.25%

Wait a minute.......I get to keep 59.25%

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