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Topic	Financial planners upset as Powerball winner buys $73 million LA mansion
DerWillZurMacht 09/27/23 7:10:52 PM #163:	KitKats posted... Right now, the annuitized powerball is $850 million. If you take the lump sum, it is less than half of that at $397.4 million. You then have to pay close to 40% of that for federal income tax. Some states also have state tax on lottery winnings, but California does not. Wait, the more than 50% tac on the amount doesn't cover federal income tax? You have to pay 40% on the take-home? Fuck that. I'd take the lump sum then flee the country and not pay one red cent in tax. Well, I would have left anyway. No way in hell am I retiring in the United States of Kekistan. <cite>DerWillZurMacht posted [p:976343591] in Financial ... [t:80578179]...</cite> <quote>KitKats posted... </cite><quote>Right now, the annuitized powerball is $850 million. If you take the lump sum, it is less than half of that at $397.4 million. You then have to pay close to 40% of that for federal income tax. Some states also have state tax on lottery winnings, but California does not.</quote>Wait, the more than 50% tac on the amount doesn't cover federal income tax? You have to pay 40% on the take-home? Fuck that. I'd take the lump sum then flee the country and not pay one red cent in tax. Well, I would have left anyway. No way in hell am I retiring in the United States of Kekistan.</quote> ... Copied to Clipboard!
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