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Topic	Financial planners upset as Powerball winner buys $73 million LA mansion
KitKats 09/27/23 7:16:33 PM #165:	DerWillZurMacht posted... 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. They dont actually have the $850 million to pay out, that is only an estimate of how much the jackpot would be worth after 30 years of investment. The annuity is paid out over 30 years. When you get the lump sum, they will automatically withhold 24% for federal income tax, and you will have to pay more when the time comes around. You wont be able to flee the country with the money, its not like they hand you a bag of cash. --- her/she <cite>KitKats posted [p:976343696] in Financial ... [t:80578179]...</cite> <quote>DerWillZurMacht posted... </cite><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>They dont actually have the $850 million to pay out, that is only an estimate of how much the jackpot would be worth after 30 years of investment. The annuity is paid out over 30 years. When you get the lump sum, they will automatically withhold 24% for federal income tax, and you will have to pay more when the time comes around.You wont be able to flee the country with the money, its not like they hand you a bag of cash. --- her/she</quote> ... Copied to Clipboard!
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