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Messages - EJB

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1
General Discussion / Re: Mega millions $1.6BB
« on: Yesterday at 11:07:06 PM »
Your link doesn't talk about future payments in years where you had no residency - only payments in years you lived at least partially in NY.

Here's one explicit line (referring to after you move out of NYS):
Quote
In the case of a prize that is payable in installments, you must file Form IT-203 for each future tax
year that you receive an installment payment.

2
General Discussion / Re: Mega millions $1.6BB
« on: Yesterday at 10:46:30 PM »
Of course speak to a tax professional if this becomes relevant to you, and I suspect not all states handle this the same way, but:

https://www.tax.ny.gov/pdf/publications/income/pub140w.pdf

Note that it doesn't make a difference if you claim the prize after you move. Also, the kicker is you have to pay NYC tax if you were a resident of NYC when you were entitled to the prize even if you move afterward. So if you think you may win, try to make an argument that you actually changed residency right before purchasing the ticket. Maybe they'll buy the argument that your purchase was "al minas" that you would change residency limafreia after you win.

3
General Discussion / Re: Mega millions $1.6BB
« on: Yesterday at 10:43:55 PM »
Of course speak to a tax professional if this becomes relevant to you, and I suspect not all states handle this the same way, but:

https://www.tax.ny.gov/pdf/publications/income/pub140w.pdf

Quote
Q: I won a prize in a New York State Lottery drawing that was held while I was a resident of
New York State. I moved out of New York State before I claimed my prize. Later that same
year, I came back to New York State just to claim my prize payment. How does my change
from a resident to a nonresident affect my New York State income tax obligation with respect to
the lottery prize payment that I received as a nonresident? Do I still have to pay New York State
taxes?

A: When you change your status from a resident of New York State to a nonresident of
New York State and are entitled to receive a prize payment from a lottery prize won while
you were a resident, you must pay New York State income tax on the payment(s) you are
entitled to receive, even if the prize payment is received during the nonresident period of your
tax year. As a part-year New York State resident, you must file Form IT-203, Nonresident and
Part-Year Resident Income Tax Return, and include in New York source income the amount of
the prize payment received.

4
General Discussion / Re: Mega millions $1.6BB
« on: Yesterday at 10:31:14 PM »
First of all, it should go by where you live, not where you buy it.
Second of all, why would you pay taxes on future earnings from a annuity to where you bought the ticket or where you live now? The first payment might go to NY if you live there, but if you move to FL next year why wouldn't the next 29 payments be state tax free?

1. Check on that. I dont think that's true. I think it's first based on where you earn the income, which is the state listed on the ticket. Of course you could also have to pay taxes in your own state as well, but moving could alleviate that burden.
2. Again, I don't think this is correct. Are you saying that based on your knowledge of taxes or based on your intuition?

5
General Discussion / Re: Mega millions $1.6BB
« on: Yesterday at 10:23:00 PM »
Where can you make more than 3.5% with zero risk?
Also don't forget to factor than the annuity option gives you time to move to a no income tax state.

1. If you have that kind of money you'd be stupid to invest it all in high quality bonds (though there definitely are ways to get 30 year rates of around that amount with similar amounts of risk). You should be investing in a more diversified way. You have options with the lump sum. Though again - if you aren't disciplined enough to save and invest wisely, the annuity is a safer option.
2. Are you sure that's true? I'm pretty sure you'd pay taxes to the state you purchased the ticket in regardless of where you move to. What you're saying may work out if you buy lottery tickets from states like DE, but most of us don't travel to buy tickets so that if we win we'd save 8%.

6
General Discussion / Re: Mega millions $1.6BB
« on: Yesterday at 09:33:11 PM »
Hence my question.
@EJB  @farmbochur

I'd take the lump sum and invest it unless you're concerned about money management and blowing through the money quickly. The rate of return is low in the annuity option. You can make more yourself.

7
Goods For Sale/Trade / Re: Marriott Certs Sale
« on: Yesterday at 07:55:05 PM »
Still looking for 2 cat 1-4 nights at $100 each

8
Destination Guides And Trip Planning / Re: Maldives Master Thread
« on: Yesterday at 05:24:08 PM »
I'd prefer not, but I wouldn't let that hold up an otherwise workable trip.Yes. GIYF with respect to particular hotel's agreement.
On the bright side, an overnight can let you potentially check in early and maximize the value of your stay. But of course not ideal.

9
Destination Guides And Trip Planning / Re: Maldives Master Thread
« on: Yesterday at 07:40:25 AM »
Can the these be put in others name without issue?
They may need to be secondary guests but Marriott told me checkin wonít be a problem b

10
Destination Guides And Trip Planning / Re: Maldives Master Thread
« on: Yesterday at 07:39:51 AM »
I have as well. 5 nights for 340k or so mt

11
Just Shmooze / Re: NBA Master Thread
« on: Yesterday at 07:39:03 AM »
Can I guess Lakers finish with the same record as the Cavs?

OU on that?
They need Mets world peace to rough things up after last night

12
On The Road / Re: Marriott Game, 50+% chance for 50+ points
« on: Yesterday at 01:34:06 AM »
What is more likely: mega millions or Marriott game?

13
Destination Guides And Trip Planning / Re: Maldives Master Thread
« on: Yesterday at 01:32:41 AM »
SR is quite large. W was a good size too.
Very refreshing after an ocean snorkel or at night under the stars.
Eh  Iím spoiled from the 66x15ft pool I got at conrad USM so every other private hotel pool is tiny in comparison

14
Up In The Air / Re: What Award Itinerary Did You Just Book/Hold?
« on: October 19, 2018, 05:39:43 PM »
You doing a workshop?

15
Up In The Air / Re: What Award Itinerary Did You Just Book/Hold?
« on: October 19, 2018, 05:37:38 PM »
Didn't. This is for work, they paid standard.
Nice! They pay j?

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