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Powerball Jackpot - Limetree Bay

IslandHops
January 11, 2016 11:44AM

Registered: 8 years ago
Posts: 929

I was pondering the fact that the Powerball Jackpot is now approaching 1.3 Billion for Wednesday's drawing - Which would be over 800M for the cash option.

If you are a resident of the territory this would result in an immediate cash payment to the VI Government coffers of around 200M with another 130M or so due with your annual taxes.

At 330M, a VI resident winning the powerball would have more immediate impact than the Limetree Bay deal!

So if you win you can either keep your residence here and benefit the VI, or relocate to FL or elsewhere in which case the money would go to the Federal Government. With our current Government this may be a tough call. cool

Re: Powerball Jackpot - Limetree Bay

Spartygrad95
January 11, 2016 12:33PM

Registered: 3 years ago
Posts: 1,870

Wouldn't worry, everyone knows the rich don't pay taxes...

Re: Powerball Jackpot - Limetree Bay

BeachcomberStt
January 12, 2016 03:28PM

Registered: 6 years ago
Posts: 1,010

Just wondering, would you pay more taxes here in the US Virgin Islands or the states?

I already know I have the winning ticket...hehehe excited

Re: Powerball Jackpot - Limetree Bay

LiquidFluoride
January 12, 2016 03:30PM

Registered: 4 years ago
Posts: 1,923

Quote
BeachcomberStt
Just wondering, would you pay more taxes here in the US Virgin Islands or the states?

I already know I have the winning ticket...hehehe excited

depends on the state you are in, but it would be the same, or more there... the USVI uses the federal tax structure and has no "territory" taxes... so it's very predictable.

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