Bt Doctur 188 Posted January 14, 2016 Dont even look, supposed to be 1 winner in Calif Quote Share this post Link to post Share on other sites
Shawnmoore81 623 Posted January 14, 2016 And Florida Sent from my iPhone using Tapatalk Quote Share this post Link to post Share on other sites
JohnnyB 4,326 Posted January 14, 2016 And Tennessee. 3 winning tickets in all. Quote Share this post Link to post Share on other sites
njpilot 671 Posted January 14, 2016 Yep. Heard that all 3 states don't take taxes from lottery winnings. Quote Share this post Link to post Share on other sites
AlDente67 563 Posted January 14, 2016 Guys, I WON!!!!! $22 between 7 of us in the family pool. Quote Share this post Link to post Share on other sites
siderman 1,138 Posted January 14, 2016 Yep. Heard that all 3 states don't take taxes from lottery winnings. so what are you saying, another reason to leave nj lol ? and a $4 winner here! Quote Share this post Link to post Share on other sites
Golf battery 1,223 Posted January 14, 2016 Yay. I got the powerball. 4$. Now im down only 16 $. Quote Share this post Link to post Share on other sites
njpilot 671 Posted January 14, 2016 so what are you saying, another reason to leave nj lol ? and a $4 winner here! Yep. Me too. Whoo hoo. Quote Share this post Link to post Share on other sites
silverado427 10,731 Posted January 14, 2016 $ 4 me too Quote Share this post Link to post Share on other sites
mipafox 438 Posted January 14, 2016 Somebody won a million at the place I pick up my coffee and get gas. Quote Share this post Link to post Share on other sites
leahcim 680 Posted January 15, 2016 Somebody won a million at the place I pick up my coffee and get gas. Was it you? Quote Share this post Link to post Share on other sites
mipafox 438 Posted January 15, 2016 Was it you? I think the rules require you to buy a ticket I would have said if it was me. Now, if I would have won a billion, that's different. I would go down to Beleize and do lots of bath salts and underage hookers, and run out on the beach brandishing guns and scaring off all the tourists. Then maybe kill a neighbor. John McAffee Medium Pimpin' Quote Share this post Link to post Share on other sites
leahcim 680 Posted January 15, 2016 I think the rules require you to buy a ticket I would have said if it was me. Now, if I would have won a billion, that's different. I would go down to Beleize and do lots of bath salts and underage hookers, and run out on the beach brandishing guns and scaring off all the tourists. Then maybe kill a neighbor. John McAffee Medium Pimpin' And don't forget about the security dogs Quote Share this post Link to post Share on other sites
45Doll 5,877 Posted November 21, 2023 I wonder if any lottery players actually read the winners' stories. Here's one. However that's not the reason I'm posting it. Maine man who won $1.35B Mega Millions sues child’s mother for telling his family about lottery win (foxbusiness.com) The reason is: Lottery value: $1,350M One time payout won: $723M After tax payout: $404M So the 'players' took in $404M, and the government took in $946M. That's a nice game. "You give me $13.50 and I'll give you $4.04 back." I'd play on the government side very time. Quote Share this post Link to post Share on other sites
mustang69 505 Posted November 21, 2023 6 hours ago, 45Doll said: I wonder if any lottery players actually read the winners' stories. Here's one. However that's not the reason I'm posting it. Maine man who won $1.35B Mega Millions sues child’s mother for telling his family about lottery win (foxbusiness.com) The reason is: Lottery value: $1,350M One time payout won: $723M After tax payout: $404M So the 'players' took in $404M, and the government took in $946M. That's a nice game. "You give me $13.50 and I'll give you $4.04 back." I'd play on the government side very time. The difference between the lottery value and the one-time payment is due to the annuity payout of 20 years vs. the purchase value of that annuity. It doesn't go to the gov't. Still, almost half of the payout goes to the gov't... Quote Share this post Link to post Share on other sites
silverado427 10,731 Posted November 22, 2023 I believe the annuity payment is based on a 30 year payout Quote Share this post Link to post Share on other sites
Mr.Stu 1,922 Posted November 22, 2023 The kicker with taking the annuity is that if the investments they make with that money don't perform as well as expected, you get paid less. If they overperform, you don't get any more than the advertised payout and the lottery keeps the rest. 1 Quote Share this post Link to post Share on other sites
PK90 3,570 Posted November 22, 2023 My financial advice is to take the one time payment and invest in ammo. Quote Share this post Link to post Share on other sites
45Doll 5,877 Posted November 22, 2023 1 hour ago, Mr.Stu said: The kicker with taking the annuity is that if the investments they make with that money don't perform as well as expected, you get paid less. If they overperform, you don't get any more than the advertised payout and the lottery keeps the rest. Then let me guess: if you take the annuity and then die before all payments are complete your estate DOESN'T get what's left. Anyone know for sure? Meantime, I'll take that bet! Quote Share this post Link to post Share on other sites
silverado427 10,731 Posted November 22, 2023 4 hours ago, Mr.Stu said: The kicker with taking the annuity is that if the investments they make with that money don't perform as well as expected, you get paid less. If they overperform, you don't get any more than the advertised payout and the lottery keeps the rest. I believe you get 5 % more every year Quote Share this post Link to post Share on other sites
45Doll 5,877 Posted March 29 Another big windfall for governments'. The 'winner'? Not so much. Mega Millions $1.13 billion winner is facing mega tax bill. The amount is staggering. - nj.com Quote Share this post Link to post Share on other sites
CMJeepster 2,778 Posted March 29 Wasn't me, otherwise I would have bought all of the pork roll in the state and sent it to @Mrs. Peel. 1 1 Quote Share this post Link to post Share on other sites
Sudsy 44 Posted March 30 On 3/29/2024 at 9:04 AM, 45Doll said: Another big windfall for governments'. The 'winner'? Not so much. Mega Millions $1.13 billion winner is facing mega tax bill. The amount is staggering. - nj.com Paywall, can't see it Gotta cut n paste the article Quote Share this post Link to post Share on other sites
45Doll 5,877 Posted March 30 There's no paywall for me. I don't (and never will) have an account there. If you got their ad blocker admonition, you should also see "Continue to the site". Try a page refresh. The article basically says governments take at least as much in taxes as the 'winners' take home. Quote Share this post Link to post Share on other sites
Bomber 1,092 Posted March 30 7 hours ago, 45Doll said: https://www.nj.com/lottery/2024/03/mega-million-113-billion-winner-is-facing-mega-tax-bill-the-amount-is-staggering.html The article basically says governments take at least as much in taxes as the 'winners' take home. I thought the top N.J. income tax rate was 10%, maybe the annuity isn't such a bad idea? Winning ticket sold in Neptune? Lord hope it be a U.S. citizen at least. Quote Share this post Link to post Share on other sites
45Doll 5,877 Posted March 30 (edited) Here's the payout schedule. Obviously if you're somewhere in the 40-50 range you take the full payout. Younger, maybe not. New Jersey Mega Millions Jackpot Annuity Payout Schedule for Mar 26, 2024 | USA Mega But I'd want to look at this with inflation in mind. The $$ you get ten years from now may be 'worth' a lot less than you expect. A loaf of bread may be $10,000,000 Note: If you take the Mega Millions annuity option, and then die with payments remaining, those payments do go to your beneficiaries. I don't know about other lotteries. Edited March 30 by 45Doll Note added. Quote Share this post Link to post Share on other sites
Bomber 1,092 Posted March 30 6 hours ago, 45Doll said: A loaf of bread may be $10,000,000 Yeah, that ain't gonna happen with the world's reserve currency. The $ dollar is the hard power of the empire, lose that and its game over. They will default and/or deflate long before thats allowed. Reckless spending politicians not withstanding. Quote Share this post Link to post Share on other sites
45Doll 5,877 Posted March 31 2 hours ago, Bomber said: The $ dollar is the hard power of the empire, lose that and its game over. That's why the BRICS are working hard to replace the world's reserve currency. They're already trading oil without the U.S. dollar. Quote Share this post Link to post Share on other sites
PK90 3,570 Posted March 31 Stupid question .... If the winning ticket holder is a non-resident of NJ, do they pay NJ tax or his home state tax? Quote Share this post Link to post Share on other sites