I'd get lump some because shit, right now it's 389,000,000. 6% tax in Ohio, I'd still be looking good. I think I'd be pretty good handling it, I'd like my kids kids kids kids kids to be able to go to college and live a good life off that shit.
Who am I kidding, even with almost half a billion dollars I couldn't get a chick
no no no no gambling tax on winnings is 31% to the gov
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From Those Fishes - I Fingered An Old Bitch (i got Aids on my finger)
Hmmmm.... so many things, one of them being the organization of a metal festival in the US, similar to Download or Sonisphere. One on the west coast and east coast.
The record jackpot would be doled out in annual payments, if that's the option chosen by the winner -- or winners, as the case may be.
The winner could also pick the cash option. The lump sum would be considerably smaller, at $389 million, though the reduced cash value is still one of the biggest jackpots ever.
so $389.8 Million cash option 389 / 31% = 120 million to the gov
mrenas 389 - 120 = about $260mil in my pocket
wrong..Lump sum after tax around 389 mil.
no its not lump sum
J) Payment of the grand prize jackpot award.
(1) In accordance with the “Mega Millions” agreement, if the Ohio lottery commission sells a winning grand prize jackpot ticket, the party lotteries shall, through the “Mega Millions” clearinghouse, transfer to the Ohio lottery commission an amount equivalent to each party lottery’s share of the present value amount needed to fund payment of the grand prize jackpot over twenty-six years. The amount then transferred to the Ohio lottery deferred prizes trust fund shall be sufficient to supply investment principal for funding the twenty-six year, long-term prize obligation, less the amount determined to be payable to the prize winner as a first annual installment. This present value transfer is less than the advertised grand prize jackpot.
(2) If there is only one winning grand prize jackpot ticket, annual payments shall be paid in twenty-six annual installments by the party lottery which sold the winning ticket. If the Ohio lottery commission sells a winning grand prize jackpot ticket, and such winning ticket is presented for payment, the initial installment shall be paid upon completion of internal validation and claiming procedures as established by the Ohio lottery commission. The first installment payment shall not be less than the twenty-five subsequent annual installment payments. The subsequent twenty-five equal installments shall be paid annually to coincide with the month in which the original investment occurred. If there is more than one winning grand prize jackpot ticket, then the annual payments shall be paid in accordance with the “Mega Millions” agreement.
(3) Upon completion of internal validation and claiming procedures established by the Ohio lottery commission, at the time a valid claim is presented for payment of the grand prize jackpot, the estimated cash option prize amount along with the amount of appropriately withheld state and federal income taxes shall be disclosed in writing to the prize winner. Commencing with the date of presentment of a valid winning grand prize jackpot ticket to the Ohio lottery commission, and for sixty calendar days thereafter, claimants may choose the cash option instead of annual installments. Claimants who choose the cash option will receive the discounted present cash value of the grand prize jackpot in an amount equal to the full proceeds generated by the sale of the investments acquired by the Ohio lottery commission to fund the twenty-six year annual installment payment stream as set forth in paragraph (J)(1) of this rule, less the appropriately withheld state and federal income taxes and any other deductions required by law. Notice of the cash option selection must be received by the Ohio lottery commission or post office stamped by the end of the sixty calendar day deadline. Such option, once chosen, may not be revoked. If no selection is made during the allowed time period, the prize winner shall automatically be paid in twenty-six annual installments as provided for herein. No payment will be issued during the period prior to selection.
(4) As set forth in Paragraphs (J)(1) to (J)(3) of this rule, a single winning game number two hundred fifty grand prize jackpot ticket may be paid in either twenty-six annual installments or in one lump sum, cash option payment. However, prize winners who claim a joint prize from a single winning ticket will all receive prize payments in either annual installments or in a lump sum payment. Prize winners who claim a joint prize from a single winning ticket may not opt to receive different forms of payment.
(K) Net proceeds to lottery profits education fund. The entire net proceeds from the sale of game number two hundred fifty in Ohio that remain after associated operating expenses, prize disbursements, lottery sales agent bonuses, commissions, and reimbursements, and any other expenses necessary to comply with the agreements among the party lotteries or these rules are deducted from the gross proceeds of game number two hundred fifty, shall be transferred to the lottery profits education fund as required under division (B) of section 3770.06 of the Revised Code.
(L) Director’s conduct of game number two hundred fifty.
(1) The Ohio director shall conduct game number two hundred fifty in a manner consistent with the Ohio Lottery Act, the rules of the Ohio lottery commission, including without limitation this rule, and the regulations of the Ohio director. As deemed necessary or advisable, the Ohio director shall adopt management regulations, orders or directives to implement and operate this Ohio lottery game.
(2) Names and definitions of elements of game number two hundred fifty used in this rule are considered generic terms used solely for the purpose of this rule.
(3) Should the Ohio director determine that drawings conducted pursuant to game number two hundred fifty are to be discontinued, such discontinuation must occur at the end of a jackpot sequence. Should the directors determine that “Mega Millions” shall be discontinued and replaced by a modified version of “Mega Millions” or another joint lotto game with a grand prize jackpot agreed to by the party lotteries, then the directors shall have the discretion to transfer any existing funds from the “Mega Millions” grand prize jackpot that was not won before such drawings were discontinued, to such new joint lotto game.
(4) The directors shall have discretion to authorize any funding mechanism deemed necessary to accomplish payment of any prize pool. The directors may collectively authorize sale of “Mega Millions” tickets at a discount for promotional purposes. In addition, the Ohio director may authorize sale of game number two hundred fifty tickets at a discount for promotional purposes within the state of Ohio, provided that such discounted sales are reported to the other party lotteries at full gross sales value.
(5) In the event of any conflict between general “Mega Millions” rules and the statutes, rules or regulations of the Ohio lottery commission, the Ohio lottery commission statutes, rules and regulations shall control.
(6) All decisions made by the Ohio director with respect to the play of game number two hundred fifty in Ohio, including the declaration of prizes and the payment thereof and the interpretation of Ohio lottery commission rules, shall be final and binding on all purchasers and on every person making a claim in respect thereof.
Effective: 06/08/2007
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Claimants who choose the cash option will receive the discounted present cash value of the grand prize jackpot in an amount equal to the full proceeds generated by the sale of the investments acquired by the Ohio lottery commission to fund the twenty-six year annual installment payment stream as set forth in paragraph (J)(1) of this rule, less the appropriately withheld state and federal income taxes and any other deductions required by law. Notice of the cash option selection must be received by the Ohio lottery commission or post office stamped by the end of the sixty calendar day deadline. Such option, once chosen, may not be revoked. If no selection is made during the allowed time period, the prize winner shall automatically be paid in twenty-six annual installments as provided for herein. No payment will be issued during the period prior to selection.
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From Those Fishes - I Fingered An Old Bitch (i got Aids on my finger)
lump sum is discounted from the total of the prize which means to take the cash option youre taking discounted winnings so taxes would be applied after the discount
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From Those Fishes - I Fingered An Old Bitch (i got Aids on my finger)
when u take the Lump sum or cash option they like pentalize you for that say you won a million if you take it in payments they give you the full million and tax that million... but if you take the cash option they cut it down to like 600,000 grand then tax your 600,000 grand.... because this is how it works if you take the payments ohio lottery takes 250,000 million and invests it in gov bonds to pay out the full 500,000 million over a 20 year stint.... theys always list the cash option but they dont list what itd be after taxes
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From Those Fishes - I Fingered An Old Bitch (i got Aids on my finger)
Comments
send them to my house
He isn't going to screw them..That's a waste of loot
Me and the ol lady will take care of them.
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From Those Fishes - I Fingered An Old Bitch (i got Aids on my finger)
mrenas 389 - 120 = about $260mil in my pocket
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From Those Fishes - I Fingered An Old Bitch (i got Aids on my finger)
The winner could also pick the cash option. The lump sum would be considerably smaller, at $389 million, though the reduced cash value is still one of the biggest jackpots ever.
J) Payment of the grand prize jackpot award.
(1) In accordance with the “Mega Millions” agreement, if the Ohio lottery commission sells a winning grand prize jackpot ticket, the party lotteries shall, through the “Mega Millions” clearinghouse, transfer to the Ohio lottery commission an amount equivalent to each party lottery’s share of the present value amount needed to fund payment of the grand prize jackpot over twenty-six years. The amount then transferred to the Ohio lottery deferred prizes trust fund shall be sufficient to supply investment principal for funding the twenty-six year, long-term prize obligation, less the amount determined to be payable to the prize winner as a first annual installment. This present value transfer is less than the advertised grand prize jackpot.
(2) If there is only one winning grand prize jackpot ticket, annual payments shall be paid in twenty-six annual installments by the party lottery which sold the winning ticket. If the Ohio lottery commission sells a winning grand prize jackpot ticket, and such winning ticket is presented for payment, the initial installment shall be paid upon completion of internal validation and claiming procedures as established by the Ohio lottery commission. The first installment payment shall not be less than the twenty-five subsequent annual installment payments. The subsequent twenty-five equal installments shall be paid annually to coincide with the month in which the original investment occurred. If there is more than one winning grand prize jackpot ticket, then the annual payments shall be paid in accordance with the “Mega Millions” agreement.
(3) Upon completion of internal validation and claiming procedures established by the Ohio lottery commission, at the time a valid claim is presented for payment of the grand prize jackpot, the estimated cash option prize amount along with the amount of appropriately withheld state and federal income taxes shall be disclosed in writing to the prize winner. Commencing with the date of presentment of a valid winning grand prize jackpot ticket to the Ohio lottery commission, and for sixty calendar days thereafter, claimants may choose the cash option instead of annual installments. Claimants who choose the cash option will receive the discounted present cash value of the grand prize jackpot in an amount equal to the full proceeds generated by the sale of the investments acquired by the Ohio lottery commission to fund the twenty-six year annual installment payment stream as set forth in paragraph (J)(1) of this rule, less the appropriately withheld state and federal income taxes and any other deductions required by law. Notice of the cash option selection must be received by the Ohio lottery commission or post office stamped by the end of the sixty calendar day deadline. Such option, once chosen, may not be revoked. If no selection is made during the allowed time period, the prize winner shall automatically be paid in twenty-six annual installments as provided for herein. No payment will be issued during the period prior to selection.
(4) As set forth in Paragraphs (J)(1) to (J)(3) of this rule, a single winning game number two hundred fifty grand prize jackpot ticket may be paid in either twenty-six annual installments or in one lump sum, cash option payment. However, prize winners who claim a joint prize from a single winning ticket will all receive prize payments in either annual installments or in a lump sum payment. Prize winners who claim a joint prize from a single winning ticket may not opt to receive different forms of payment.
(K) Net proceeds to lottery profits education fund. The entire net proceeds from the sale of game number two hundred fifty in Ohio that remain after associated operating expenses, prize disbursements, lottery sales agent bonuses, commissions, and reimbursements, and any other expenses necessary to comply with the agreements among the party lotteries or these rules are deducted from the gross proceeds of game number two hundred fifty, shall be transferred to the lottery profits education fund as required under division (B) of section 3770.06 of the Revised Code.
(L) Director’s conduct of game number two hundred fifty.
(1) The Ohio director shall conduct game number two hundred fifty in a manner consistent with the Ohio Lottery Act, the rules of the Ohio lottery commission, including without limitation this rule, and the regulations of the Ohio director. As deemed necessary or advisable, the Ohio director shall adopt management regulations, orders or directives to implement and operate this Ohio lottery game.
(2) Names and definitions of elements of game number two hundred fifty used in this rule are considered generic terms used solely for the purpose of this rule.
(3) Should the Ohio director determine that drawings conducted pursuant to game number two hundred fifty are to be discontinued, such discontinuation must occur at the end of a jackpot sequence. Should the directors determine that “Mega Millions” shall be discontinued and replaced by a modified version of “Mega Millions” or another joint lotto game with a grand prize jackpot agreed to by the party lotteries, then the directors shall have the discretion to transfer any existing funds from the “Mega Millions” grand prize jackpot that was not won before such drawings were discontinued, to such new joint lotto game.
(4) The directors shall have discretion to authorize any funding mechanism deemed necessary to accomplish payment of any prize pool. The directors may collectively authorize sale of “Mega Millions” tickets at a discount for promotional purposes. In addition, the Ohio director may authorize sale of game number two hundred fifty tickets at a discount for promotional purposes within the state of Ohio, provided that such discounted sales are reported to the other party lotteries at full gross sales value.
(5) In the event of any conflict between general “Mega Millions” rules and the statutes, rules or regulations of the Ohio lottery commission, the Ohio lottery commission statutes, rules and regulations shall control.
(6) All decisions made by the Ohio director with respect to the play of game number two hundred fifty in Ohio, including the declaration of prizes and the payment thereof and the interpretation of Ohio lottery commission rules, shall be final and binding on all purchasers and on every person making a claim in respect thereof.
Effective: 06/08/2007
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From Those Fishes - I Fingered An Old Bitch (i got Aids on my finger)
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From Those Fishes - I Fingered An Old Bitch (i got Aids on my finger)