- Joined
- Mar 13, 2017
- Messages
- 26,525
- Reaction score
- 5,764
You live in Europe?Lottery winnings not taxed here so take that!
You live in Europe?Lottery winnings not taxed here so take that!
Lottery winnings not taxed here so take that!
Payouts are also smaller so it's a wash.
iirc some cities, like San Francisco, tax winners as well.You're forgetting that some states tax the winnings too.
Great return but still not that much money. I guess it is for the types that play it.
Then you get taxed on the 5.8 million you are left with, Im not sure the tax on that since im not in that tax bracket but you will probably be left with like 3.5 million right? So you are not really winning 10 million you win 3.5 million.
If anyone knows the right amount you are left with and is familiar with these high tax brackets please inform us.
if you take annuity you get $400,000 a year for 25 years
If you are under 30 the 400k a year is probably the better choice
But what always baffles me is why does the Government take half of your winnings when its people who invest in the lotto not the government, why cant they just tax you on the 10 million its almost like a double tax, they take out half to supposedly INVEST back into the state mainly in schools or something. why do they have to double dip?
I heard in Canada they don't do that they just tax you on what you won they don't double dip like that.
What an asshole post that was
when you take a limp sum instead of annuity payments they give you enough money to pay yourself those annuity payments forever. You just have to have the discipline to not spend more than what each payment would be each year. So your choice is take payments for 20-26 years depending on the game played or set up your own rollover account and get those same payments forever.Then you get taxed on the 5.8 million you are left with, Im not sure the tax on that since im not in that tax bracket but you will probably be left with like 3.5 million right? So you are not really winning 10 million you win 3.5 million.
If anyone knows the right amount you are left with and is familiar with these high tax brackets please inform us.
if you take annuity you get $400,000 a year for 25 years
If you are under 30 the 400k a year is probably the better choice
But what always baffles me is why does the Government take half of your winnings when its people who invest in the lotto not the government, why cant they just tax you on the 10 million its almost like a double tax, they take out half to supposedly INVEST back into the state mainly in schools or something. why do they have to double dip?
I heard in Canada they don't do that they just tax you on what you won they don't double dip like that.
But not wrong.
Perhaps but still classless
Yep. I'm sure your family that is winning on scratch offs are fine people. Although if you were a shit poster I would be doubling down on it and calling you poor/never heard of you.