19 Apr 2024, 12:44 [ UTC - 5; DST ]
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Post subject: Re: Powerball $375M after tax. What's your new fleet look li  Posted: 07 Nov 2022, 17:52 |
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Joined: 06/30/22
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Location: 0W3
Aircraft: Mooney 252/Encore
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Username Protected wrote: I was thinking there would be a last minute rush that would get it up to 2 billion. Which would work out to $1,018,400,000. I still think that's possible. But at the current advertised jackpot (1.9b), the after (federal) tax lump sum payout is $967,480,000. At least that's what this website shows. https://www.lotterypayoutcalculator.com/NO. The lump sum payout for $1.9B is $929 million. You do NOT get a check for $1.9 B. You only get $1.9B if you take the 20 year annuity. Then you pay Federal tax on that amount. So with no state tax, it would be $473 million.
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Post subject: Re: Powerball $375M after tax. What's your new fleet look li Posted: 07 Nov 2022, 17:54 |
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Joined: 06/30/22
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Username Protected wrote: I really like that family model Skyraider. There’s room for my “crew” and a couple of small bags.
I don't know if the -5 has it, but the "single seat" -4 has a crew compartment with a boarding door on the right side behind the wing. It is pretty darn big. "Naked Fanny" used to carry a 55 gallon drum of oil there, and still room for a person or two.
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Post subject: Re: Powerball $375M after tax. What's your new fleet look li Posted: 07 Nov 2022, 19:03 |
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Joined: 04/06/11
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Username Protected wrote: I don't know if the -5 has it, but the "single seat" -4 has a crew compartment with a boarding door on the right side behind the wing. It is pretty darn big. "Naked Fanny" used to carry a 55 gallon drum of oil there, and still room for a person or two. -5 is like a Ford E-150 van inside. IIRC correctly seating configurations were 4 Officers in Bucket seats or 12 Enlisted on a pair of Bench seats.
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Post subject: Re: Powerball $375M after tax. What's your new fleet look li Posted: 07 Nov 2022, 19:16 |
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Joined: 04/06/11
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Username Protected wrote: I was thinking there would be a last minute rush that would get it up to 2 billion. Which would work out to $1,018,400,000. I still think that's possible. But at the current advertised jackpot (1.9b), the after (federal) tax lump sum payout is $967,480,000. At least that's what this website shows. https://www.lotterypayoutcalculator.com/NO. The lump sum payout for $1.9B is $929 million. You do NOT get a check for $1.9 B. You only get $1.9B if you take the 20 year annuity. Then you pay Federal tax on that amount. So with no state tax, it would be $473 million.
Annuity is over 29 years, 30 Payouts.
Lump sum of $929 Million is pretax. So after tax would be North of 500 Mil depending on if, and how much, your state taxes the winnings.
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Post subject: Re: Powerball $375M after tax. What's your new fleet look li Posted: 07 Nov 2022, 19:29 |
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Joined: 02/28/17
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Location: Panama City, FL
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Username Protected wrote: I was thinking there would be a last minute rush that would get it up to 2 billion. Which would work out to $1,018,400,000. I still think that's possible. But at the current advertised jackpot (1.9b), the after (federal) tax lump sum payout is $967,480,000. At least that's what this website shows. https://www.lotterypayoutcalculator.com/NO. The lump sum payout for $1.9B is $929 million. You do NOT get a check for $1.9 B. You only get $1.9B if you take the 20 year annuity. Then you pay Federal tax on that amount. So with no state tax, it would be $473 million.
I don't know where you got that I stated the lump sum payout is $1.9 billion. I never said that. Literally in the third sentence of my previous post, I wrote "But at the current advertised jackpot (1.9b)".
Not sure how I could be more clear. 
As for the numbers I'm using, I posted the source for that information. It's not authoritative. It's just something I found. If it's wrong, maybe you could provide your source of more accurate data?
In the end, it doesn't really matter. We're all just trying to have a little fun with some what if's.
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Post subject: Re: Powerball $375M after tax. What's your new fleet look li Posted: 07 Nov 2022, 20:42 |
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Joined: 10/05/11
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Location: Milwaukee, WI (KMKE)
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Username Protected wrote: Ok, I've just decided to add the F-104 to my collection. Wow. $10k/hr IIRC https://flyastarfighter.com/
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Post subject: Re: Powerball $375M after tax. What's your new fleet look li Posted: 07 Nov 2022, 21:01 |
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Joined: 04/06/11
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Username Protected wrote: I don't know where you got that I stated the lump sum payout is $1.9 billion. I never said that. Literally in the third sentence of my previous post, I wrote "But at the current advertised jackpot (1.9b)". Not sure how I could be more clear. As for the numbers I'm using, I posted the source for that information. It's not authoritative. It's just something I found. If it's wrong, maybe you could provide your source of more accurate data? In the end, it doesn't really matter. We're all just trying to have a little fun with some what if's. Wasn't try to rain on anyones parade. Info from Powerball site. Annuity vs Lumpsum info- https://www.powerball.net/cash-vs-annuityTax info- https://www.powerball.net/taxes
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Post subject: Re: Powerball $375M after tax. What's your new fleet look li Posted: 08 Nov 2022, 01:24 |
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A Kodiak sits right in between  Though you’d be surrendering quite a bit of comfort and performance.
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Post subject: Re: Powerball $375M after tax. What's your new fleet look li Posted: 08 Nov 2022, 01:29 |
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Joined: 04/24/18
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Location: NYC
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Username Protected wrote: I was thinking there would be a last minute rush that would get it up to 2 billion. Which would work out to $1,018,400,000. I still think that's possible. But at the current advertised jackpot (1.9b), the after (federal) tax lump sum payout is $967,480,000. At least that's what this website shows. https://www.lotterypayoutcalculator.com/NO. The lump sum payout for $1.9B is $929 million. You do NOT get a check for $1.9 B. You only get $1.9B if you take the 20 year annuity. Then you pay Federal tax on that amount. So with no state tax, it would be $473 million.
Lump sum of 929M after federal taxes of 37% is 585M
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Post subject: Re: Powerball $375M after tax. What's your new fleet look li Posted: 08 Nov 2022, 06:53 |
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Joined: 06/30/22
Posts: 1399
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Location: 0W3
Aircraft: Mooney 252/Encore
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Username Protected wrote: I was thinking there would be a last minute rush that would get it up to 2 billion. Which would work out to $1,018,400,000. I still think that's possible. But at the current advertised jackpot (1.9b), the after (federal) tax lump sum payout is $967,480,000. At least that's what this website shows. https://www.lotterypayoutcalculator.com/Quote: NO. The lump sum payout for $1.9B is $929 million. You do NOT get a check for $1.9 B. You only get $1.9B if you take the 20 year annuity.
Then you pay Federal tax on that amount. So with no state tax, it would be $473 million. Quote: I don't know where you got that I stated the lump sum payout is $1.9 billion. I never said that. Literally in the third sentence of my previous post, I wrote "But at the current advertised jackpot (1.9b)". Not sure how I could be more clear. As for the numbers I'm using, I posted the source for that information. It's not authoritative. It's just something I found. If it's wrong, maybe you could provide your source of more accurate data? In the end, it doesn't really matter. We're all just trying to have a little fun with some what if's. If there were NO TAXES at all, they would hand you a check for $929 million. You cannot bank more than the payout. Look on the Power Ball page. Under the jackpot, in small letters, it says Cash Payout.
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Post subject: Re: Powerball $375M after tax. What's your new fleet look li Posted: 08 Nov 2022, 12:01 |
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Joined: 04/24/18
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Apparently I miss spoke.
One winner in California. Annuity 2.04 billion.
Cash value lump sum before taxes 997 million.
Last edited on 08 Nov 2022, 13:52, edited 1 time in total.
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