Max Federal government tax rate + Obamacare Tax (43.4%) = $215,276,000.00
State Taxes: My state (AR) State Income Tax 7.5% = $37,200,000.00
Net after tax winnings = approx. $243,524,000.00
Smart thing to do is to relocate to a state income tax free state (TX, WY, SD, FL, AK, NV, WA) and then:
1) Tithe to God 10%= $49,600,000.00 (yes, God gets 10% gross, and it comes out of your post-tax earnings)
2) Pay off all of YOUR immediate family debt(s):
3) Buy some life insurance, Long Term Care policy, and Health Savings Account.
4) Contact trust attorney, CHCL/CHU/CFP insurance agent, and a CPA/JD
5) Don't buy anything yet. Have your broker buy you tax free municipal bonds and live off the interest for the rest of your life. CALL ME!
6) Gift either $14,000/yr tax free for maximum IRS exclusion, or one time life tax free gift exclusion of $5,430,000.00 to your closest, reliable, mature, and smart relative/friends.
7) Give to FreeRepublic, local RNC, and NRA/GOA/JFPO.
8) Change your phone number.
OK, If I win, I’ll call you; probably in a drunken stupor, but I’ll call you.
I'll be calling you!!
Give to the local RNC, so they can throw it away siphoning away our rights at a slower pace than the democrats?
Come to think of it I only need about 5 to 10 million to do me good invested well. All the rest of the money would be a pain.
Not like it will ever happen, but I thought I'd need to tithe 10% of the entire jackpot. 80MM on 800MM pot.
Tithing on what you get, 496MM makes more sense, but then again, I wouldn't want to "rob" God of what is His to begin with.