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[–] [Sticky] • 9 pts

this is at least a little retarded. the reason the discrepancy is so large is not from taxes but because the cash out prize is 750 million rather than 1.28 billion.

paying 317 million in taxes is still bullshit but slightly more reasonable.

[–] • 4 pts

Also not all of it was federal taxes. A lot of it was state taxes

[–] [deleted] • 0 pt

How is a $1.28B jackpot not a $1.28B jackpot?

[–] • 0 pt (edited )

when you win the lottery the default prize is awarded via a 30 year annuity, but you get the option take a lower amount of cash instantly.

this is usually considered the wiser option even though it's a lower prize amount because the value of a dollar is higher today than it is tomorrow.

the cash out option for a 1.28 billion (30 year annuity) prize is 747 million.

[–] • 2 pts

Immediately set yourself up as a charity/church non-profit production company. Pay no taxes.

[–] • 0 pt

Yes, claim that the ticket was purchased by a charitable organization which didn’t exist until after the drawing, surely that’ll get past those tax buffoons and not land anyone in prison for tax evasion

[–] • 0 pt

You can use your winnings to establish a non-profit. Most of the larger winners do and recover much of their initial tax forfeiture. So many tax firms can help you avoid 90% of taxes. Only retards and complete fucking retards pay taxes. The large winners that remain anonymous get to keep all the money....minus lawyers fees, 6-12%. only retards and niggers go to prison.

[–] • 1 pt (edited )

You can use your winnings to establish a non-profit

Yes, but you purchased the ticket and still have to claim the money, which means you owe the taxes, not the non-profit. You can claim some startup capital within reason and donate some to the non-profit as a write-off, but there are annual limits to the amount you can donate and have it be tax deductible. For sure you can’t just sign a winning ticket over to a charity and have it be tax-free. And if you think you can create 4,000 non-profits and donate the deductible max to all of them without being flagged for obvious tax evasion, then you’re just super special.

Absolutely the first person a lottery winner should contact is a lawyer, because they’ll help maintain your anonymity and help reduce the taxes you pay, but they won’t be able to help you escape all of them (barring placing the majority of it into the right types of risky investments which would only defer the taxes until you realize gain or could easily lose you far more than you’d pay in taxes), and they certainly won’t tell you to “create a non-profit and pay no taxes.” That’s just a bad idea that won’t work

[–] • 1 pt

Pay it in pennies.