Say you win a lottery, and the organizers offer to pay the taxes on your winnings. The extra payments for the tax are taxable too right? How many iterations of paying taxes on taxes do the organizers have to go through before they truly "pay your taxes"?
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The cute answer is that they pay you 15% on your winnings, then 15% of that amount etc until it comes out to less than a cent, which happens in N = log(0.01/W)/log(T) iterations where W is the winnings and T is the tax rate.
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So e.g. 10 iterations if you win a million bucks with a 15% tax rate.
End of conversation
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