PowerBall Reaches $320-Million

OK - I'm in.......how much would the tax be on this?

The $320 million is over 30 years I believe. The cash option is probably a little under $200 million. Taxes are likely to eat up 40% of that amount leaving you with a paltry $120 million.

Yep, the "pecker" is in! Buy $10 twice a week when the jackpot grows over $100 million.

Like a mere winning of say $80 million is not "pecker" worthy! damn that is just screwed up.

Do you all pick your numbers or do the quick pick? I typically select my numbers for one tix and purchase the other 4 on QP. Won a $100 a few years back. Not ahead by any stretch.

If nobody here at LVA wins tonight then I hope nobody does. I totally forgot to go buy some tickets.

I'm in, have been playing it for a while, usually when it gets 50 mil and above. I figger WHT, throw ten bucks at it. ANYHOO...

The cash option is 203,300.000.00

Fed taxes 50,825,000.00

Here in Va with a %4 tax 8,132,000

Leaving me with a nice fat check for 144,343,000.00 assuming no one else hits too.

I could make do on that thank you very much.

J

BTW Threw a couple bucks on mega millions as well. I know, i know its only 45 mil, but what thehey.

I usually figure that if you take 1/3 of the jackpot, that is what you net taking the cash amount and after taxes. From my understanding, they take out 20% of the money you win, and you are responsible for the remaining taxes which should be about 15%. So they should send you a check for about $110 million and you owe them a few million!

If I'm not mistaken, if you take the payment option, it's paid over 25 years not 30!

Nope, its 30 yrs.
year 1 payment about 3.8 mil then progressively larger til year 30 with a final payment of a tad over 12 mil.

This was one of the rare occasions where DonDiego was not right.

There goes 2 dollar.

Maybe he should be banned again

I have 40 tickets with coworkers. No one called me. Guess we didn't win. Oh well.