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Poll: Classic Mega MillionsReply
Get your point. But...interest rates control the difference between annuity prize and cash value prize. MM cash value for Tuesday draw is $175.4 million. That's enough for me. In fact, at my age, $1 million ($630,000 after fed taxes) is enough for me.
Dec 3, 2023, 12:00 pm - rcbbuckeye - Lottery Discussion Forum

Texas Lottery pays out largest jackpot in state history with $360 million Mega Millions claimReply
You are very right. Also the taxes, at least the initial tax is based on the state of purchase. There are two likely scenarios, the winner used to live in Texas but moved after it the winner was just driving through from SD and won.
Nov 16, 2023, 4:26 pm - JustMaybe - Lottery News

Big Prize Winners on LPReply
If you notice a lot of what you find here on LP is for pick 3 and 4. These pick games are easier to win vs the big lotteries. Also in many states if you play pick 3 you can cash it at the store tax free. However be aware if your state offers online play where you can play via the states lottery web site instead of going to an outlet to buy a physical ticket.. You will pay taxes on any of your winnings. The big plus of online play is you don't half to think about what you are doing if you have an
Nov 7, 2023, 10:57 am - lottologix - Lottery Discussion Forum

California man asks clerk to choose a lottery game for him, ends up picking out a ticket worth $10MReply
The IRS just recovered 112M from 100 millionaires who used various ways to evade tax. These are individuals who owe 250K or more in taxes. Winning 9,999,999 doesn't get you off the hook. If you do Uber eats or doordash gigs you are on the IRS radar. In short everyone is on their radar. So giving the clerk 17K to get off the IRS radar is a myth
Oct 20, 2023, 10:06 pm - JustMaybe - Lottery News

$1.725 BILLION: Powerball jackpot now 2nd-largest of all timeReply
$5,518,045 after taxes for the MM. Mmh, I wil take it, so getting a ticket for today's draw
Oct 10, 2023, 7:08 pm - JustMaybe - Lottery News

Putting your millions in the bank
The FDIC insures each account up to 250,000, so if you don't wanna use about 600 banks, invest most of it in long term treasuries. At least they are free of state income taxes.
Oct 8, 2023, 11:51 am - stexstuff - Lottery Discussion Forum

$1.4 BILLION: Powerball jackpot juggernaut keeps rollingReply
A winner who chooses the cash option would receive a lump-sum $643.7 million more than a half-billion dollars in cash! Well yes, but not really. Not after Uncle Sam takes his 37% cut. But even so, what's left for the winner after taxes are paid would still make them what the finance industry classifies as an Ultra High Net Worth Individual . A UHNWI has 30 million or more in liquid assets available for investment. And for sure, there aren't many UHNWI's on the planet. G5
Oct 5, 2023, 10:17 am - GiveFive - Lottery News

$1.04 BILLION: Massive Powerball jackpot increases againReply
1 billion massive jackpot sounds nice, but in reality one would get only around $280 millions (after taxes). [greedy lottery administrators take 50% of the jackpot].
Oct 1, 2023, 5:53 pm - TwoMillion - Lottery News

$1.58 billion Mega Millions lottery winner has two weeks left to claim cash optionReply
G5...... If they are reasonably keen on being silent, they might have contacted Lottery Lawyer Kurt D Panouses down in Indiatlantic, FL. https://www.panouseslaw.com/ His site does show 4 trusts that he represented including the Nickel 95 trust back in 2016. With that sized jackpot getting $15 Million on the first annuity payout(after taxes) ain't too shabby.
Sep 23, 2023, 8:58 am - CDanaT - Lottery News

thoughts on lottery syndicatesReply
It could be beneficial, but it may not necessarily result in a win. Am sure the people that have won billions before taxes when the jackpot is that high they play serious money like they just don't care
Aug 24, 2023, 8:28 pm - JustMaybe - Lottery Discussion Forum