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#21 |
Nomadic Tribesman
Join Date: Nov 2008
Location: Brampton, Canada
Moto: '09 ER-6n
Posts: 11,150
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If it isn't enough to buy a large island or a small Central American country, then I don't want it.
__________________
"Everything's better with pirates." - Lodge, "Dorkness Rising" http://www.morallyambiguous.net/ |
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#22 |
WERA White Plate
Join Date: Nov 2008
Posts: 1,059
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You have to pay Fed, State, and Local taxes.
That $89M isn't after all taxes, If the lump sum payout is $115M, Fed taxes alone are going to be close to $40M. |
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#23 |
Moto GP Star
Join Date: Mar 2008
Posts: 14,556
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#24 | |
Follower
Join Date: Nov 2008
Posts: 5,549
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$115M would put you in the 35% bracket, which equals $40.25M in Federal taxes plus any applicable state, local, etc. They may have withheld less than that but it doesn't mean he won't owe them come 4-15-2010. Edit: just noticed, The $115M number came from Trip, not a reputable source. ![]() The $88.5 may be a true net number but that would mean his lump sum payout was far greater than $115M. |
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#25 |
WERA White Plate
Join Date: Nov 2008
Posts: 1,059
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#26 | |
Moto GP Star
Join Date: Mar 2008
Posts: 14,556
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Well I got it from the news which isn't necessarily a perfect source of information either! ![]() |
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#27 |
Moto GP Star
Join Date: Feb 2008
Posts: 12,156
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$89 mil is still a lot of money. A conservative investment with a return of only 5% will earn you $4.45 mil a year. I can live comfortably on that and never have to touch the principle.
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#28 | |
Follower
Join Date: Nov 2008
Posts: 5,549
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Many people would be glad to have a return of "only" 5% over the last few years. ![]() |
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#29 | |
Moto GP Star
Join Date: Mar 2008
Posts: 14,556
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#30 |
Moto GP Star
Join Date: Feb 2008
Posts: 12,156
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