You have to pay tax on lottery wins in the States ?
Would be about one third. Cash value probably about 900,000, less the tax. To get the 1.3B you'd take payment over 20 years, and pay the tax as you go. I'm no accountant, but I'm not far off.
Amazing isn't it. Look at is this way - to get into the 40% bracket in the UK you need to earn £32,000. Let's call that $50,000, which is a bit generous.
To get in the 39.6% bracket, you need to have $415,050 of taxable income.
Yes and in exchange for that you get a centralized Government provides far more services than ours. If you look at what is spent on healthcare along, what we (cumulatively) spend to attempt to bridge the gap in coverage (let alone quality of care) probably evens it out.
It would be great if one of you won and bought the club. Personally, the last thing I would do is buy a football club - throw millions of pounds at it and if it goes tits-up you face a barrage of abuse from mere "customers", no thanks!
It would be great if one of you won and bought the club. Personally, the last thing I would do is buy a football club - throw millions of pounds at it and if it goes tits-up you face a barrage of abuse from mere "customers", no thanks!
Don't think any of us would do a worse job than the current lot. I'd be on the next plane over.
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Cash value probably about 900,000, less the tax. To get the 1.3B you'd take payment over 20 years, and pay the tax as you go.
I'm no accountant, but I'm not far off.
It is illegal to do online but nothing to stop foreigners from buying tickets if in one of the states or territories that are part of the powerballl
To get in the 39.6% bracket, you need to have $415,050 of taxable income.
involved and weigh in.
I'll get in touch with those CAFC Moscow chaps and ask them to pen Putin a few lines.