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Ga. maintenance man wins Mega Millions lottery jackpot

Topic closed. 43 replies. Last post 10 years ago by KY Floyd.

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savannah, ga
United States
Member #37345
April 13, 2006
342 Posts
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Posted: September 19, 2006, 4:35 pm - IP Logged

I sure would like to know  Mr. Chason's birthdate and time or view his horoscope and have a horoscope of the time he bought the quick picks. Being an astrology buff, I know that there are some very lucky times in everyone's life.  It may not be in the plan for everyone to become a millionaire but I know astrology can help pinpoint the best times to win something. Blackapple and Libra Dave can attest to that. I will bet that Pluto was making some great aspects in Chason's chart. Pluto rules one in a million type occurences and maybe Jupiter was involved as well. Astrologers please comment.

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    Delaware
    United States
    Member #30273
    January 14, 2006
    494 Posts
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    Posted: September 19, 2006, 4:40 pm - IP Logged


    Sirbrad

    I am financially astue and could handle that part w/o hiring a financial planner. How ever would defintly need lawyer to set up a trust to own the ticket between me and the kids.  Also a question I have always had, that would need answered is, for tax purposes when do you incur the liability.   For example if I hit in Dec 06 and don't claim till Jan 07 which year is my tax liability.  Also I live in AL. If I win in TN can I sell my house in AL, establish TN residence before I claim and not owe a State income tax?  Also what if I take the annuity pay the 1st year of AL tax and then move to a non income tax state?  I rememeber  something several years ago about Calif trying to tax retirement of people that had left the state.  Yes I need a lawyer!!!!!!!!!!  And if anyone has insight in to my questions  I realize you are not providing leagal advise if you answer.

    Your tax liability would be based on when you are actually paid the money. If you establish Tennessee residency prior to claiming the ticket, then you would be claiming it as a Tennessee resident. However, don't be surprised if Alabama tries to take some money from you too. Believe it or not, states define a resident differently, and can have multiple types of residency (voting vs. taxes). Unfortunately, it's illegal, but you would have to literally make a federal case out of it, and you'd probably loose anyway because the feds seldom take up such issues. See the case where the telecommuter from Tennessee was forced to pay New York taxes on his salary despite never going to New York.

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      Huntsville AL
      United States
      Member #16531
      June 1, 2005
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      Posted: September 19, 2006, 4:41 pm - IP Logged

      Hello.

      I really don't know and don't understand why someone look at the immediated claim winner with a negative thinking and even think that they are kind of uneducation ???

      I'd like to say that I am college graduated, and If I won big, I will come to the lottery headquater as soon as I can . Because I think if I spend time with finance advisor with ticket unclaimed I may be scared to death. And claiming soon is my first choice!

      If we claim soon at the lottery main office, will we lost some money ? get dangerous ?

      May anyone explain to me ? thank you!

      I think I remember reading that someone presented a ticket for validation but did not claim till after they got their ducks in a row.  Also have heard of putting is a plastic bag and freezing.

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        Huntsville AL
        United States
        Member #16531
        June 1, 2005
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        Posted: September 19, 2006, 4:48 pm - IP Logged

        Your tax liability would be based on when you are actually paid the money. If you establish Tennessee residency prior to claiming the ticket, then you would be claiming it as a Tennessee resident. However, don't be surprised if Alabama tries to take some money from you too. Believe it or not, states define a resident differently, and can have multiple types of residency (voting vs. taxes). Unfortunately, it's illegal, but you would have to literally make a federal case out of it, and you'd probably loose anyway because the feds seldom take up such issues. See the case where the telecommuter from Tennessee was forced to pay New York taxes on his salary despite never going to New York.


        Thanks rdc

        I know that states tax entertainers (football players, singers, Rush Limbaugh) when they are in state That's why Rush moved to Fl and hates it when there is a hurricane and he has to go to NYC.  Had not heard you can be taxed on telecommuting when you never went to state.  I have friends that live in TN and work in AL and have to pay AL tax.

          RJOh's avatar - chipmunk
          mid-Ohio
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          March 24, 2001
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          Posted: September 19, 2006, 5:12 pm - IP Logged

          Most people think that their tax liability is dependent on their situation when they collect their money, but courts have decided many times that it depends on their situation when they win the money or even when they bought the ticket some time.  Collecting the money after they get divorced doesn't eliminate their spouses share and collecting the money after moving doesn't eliminate their state or city taxes.  Most states and cities calculate taxes owed them on a percent of your total yearly income for the potion of the year you were a resident regardless of when you earned or collected the money so both states would get a share if they have such taxes.

           * you don't need to buy more tickets, just buy a winning ticket * 
             
                       Evil Looking       

            sirbrad's avatar - Lottery-062.jpg
            PA
            United States
            Member #22983
            October 6, 2005
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            Posted: September 19, 2006, 9:09 pm - IP Logged

            The whole tax thing puts a serious damper on the lottery. I don't think they should get a thing after the 25% deduction, which is still even too much. I also doubt they continue taking 10% a year, because they would slowly deplete you of your fortune.

            Especially if you choose not to collect interest, they can't touch your money. The ones to talk to are tax professional for the facts. As far as systems go, yes sometimes they tend to inhibit your progress. That is why I also have a system, get QP's frequently. They play numbers that most system users never would, and numbers that come up more often.  


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              June 2, 2005
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              Posted: September 19, 2006, 11:39 pm - IP Logged

              This is a great story. Did he pick cash? I hope he doesn't have financial problems later in life.

                dumars798's avatar - batman17
                Atlanta
                United States
                Member #28656
                December 20, 2005
                5675 Posts
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                Posted: September 20, 2006, 1:05 am - IP Logged

                WTG...THAT'S A LOTTA DOUGH!!!

                     Money 3    Money 3    Money 3





                        Smart bets...... Equal Phat Pocket$!

                                     

                             





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                  Portland
                  United States
                  Member #7262
                  September 27, 2004
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                  Posted: September 20, 2006, 3:26 pm - IP Logged

                  I think I remember reading that someone presented a ticket for validation but did not claim till after they got their ducks in a row.  Also have heard of putting is a plastic bag and freezing.

                  Hello  hsvscubaski,

                   

                  Becuase they don't believe they will won . The winner also like us when they are not a winner yet.

                  Just always check the tickets....

                  For the winner of this time, he is 52, and I think most of us in here is younger than he ...let's dream on and be patient!!!Lurking

                    wizeguy's avatar - animaniacs04

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                    Posted: September 20, 2006, 6:33 pm - IP Logged

                    Congrats, Ben Chason, and good luck!

                      wizeguy's avatar - animaniacs04

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                      Posted: September 20, 2006, 6:35 pm - IP Logged

                      This is a great story. Did he pick cash? I hope he doesn't have financial problems later in life.

                      Yes, he picked cash.

                        maringoman's avatar - images q=tbn:ANd9GcTbRxpKQmOfcCoUqF2FyqIOAwDo7rg9G-lfJLAALPGWJWwiz19eRw
                        Massachusetts
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                        April 14, 2006
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                        Posted: September 21, 2006, 8:50 am - IP Logged

                        Because they buy fewer Tickets than folks in other States!

                        ya think? i should think massachusetts being richer than other states should be able to spend more on the lottery, ah well, i'll start buying $10 of megamillions on a single game once in a while

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                          NY
                          United States
                          Member #23835
                          October 16, 2005
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                          Posted: September 22, 2006, 1:46 pm - IP Logged

                          Your tax liability would be based on when you are actually paid the money. If you establish Tennessee residency prior to claiming the ticket, then you would be claiming it as a Tennessee resident. However, don't be surprised if Alabama tries to take some money from you too. Believe it or not, states define a resident differently, and can have multiple types of residency (voting vs. taxes). Unfortunately, it's illegal, but you would have to literally make a federal case out of it, and you'd probably loose anyway because the feds seldom take up such issues. See the case where the telecommuter from Tennessee was forced to pay New York taxes on his salary despite never going to New York.


                          The first sentence of your advice is almost certainly incorrect. Tax laws will be slightly different in each state, but the purpose of states' tax laws are to get what they can, and they've had years to figure all the angles and tweak the laws to their advantage. For the most part, if you earn income while living in a particular state you will owe tax on that income. You don't owe taxes because you claim a lottery prize, you owe taxes because you win a lottery prize. In some cases you may be able to defer income and taxes until the following tax year, but the law isn't likely to allow you to avoid the tax comletely. A good rule of thumb is that you earn the income, and therefore become liable for the taxes, as soon as you are legally entitled to the income. If you win the lottery in early December and don't claim the prize until January, you may be able to pay the taxes in the following year, but you will have incurred the tax liability the moment your numbers were drawn as the winner. In the example of TN and AL, unless the legislators in Alabama are unusually stupid, an Alabama resident who wins the lottery will owe taxes to Alabama regardless of how long they wait to claim the prize, or where they are living when they claim the prize. If you were a resident when you became entitled to the money then it's income earned as a resident of that state. Short of poorly written tax laws, the only chance of avoiding state taxes by moving would be if you move before December 31st and the lottery won't pay out for long enough that you can't get paid until after January 1st, but I still wouldn't be too optimistic.

                          You're right about states having a different opinion on residency than individuals do. Tax laws aren't really based on residence, they're based on domicile, and there's a legal difference. If somebody moves in order to reduce taxes they need to sever their connection to their former state as thoroughly as possible. If you move but don't sell the home you were living in you can expect the taxman to come calling. Undeveloped property may be claimed as an investment, but if you've shown an intent to build a home on it, you can expect the taxman to come calling. If you come back for vacations or repeatedly visit your parents or children in your old state, you can expect the taxman to come calling. If your income is substantial and you completely sever your ties to your old state, you should expect the taxman to look for a reason to come calling.

                          Taking the annuity instead of cash might let you reduce income taxes. If you win a lottery run by a state  that taxes lottery winnings you should expect to pay taxes to that state regardless of when you actually collect the money, and if you live in a different state you should expect to pay taxes to that state, too. If you win a lottery run by a state that doesn't impose income tax on lottery winnings but live in a different state you should expect to pay taxes to your home state on any income earned while you are a resident of that state. Income earned after moving out of the state may increase your taxes for any part of the tax year in which you were still a resident, but you may not owe anything for years in which you don't live in the state at all. If you win an out of state jackpot this Saturday and take the annuity you should expect to pay taxes to your current state on the first payment, which you'd be entitled to collect this year.  If you then become a non-resident before the end of the year the state should have no claim on your income in subsequent years. Still, I wouldn't guarantee that you'd be home free. The state may still make the claim that the income was earned as a resident, even if it isn't payable until some time in the future.

                          I'm not familiar with the telecommuter case you refer to, but it's a pretty safe bet that the court (assuming it even made it to court)  determined that the income came from New York. If you telecommute to a job, the job exists in the office you'd be working in if you didn't telecommute, and the income comes from wherever the office is. That's a completely different issue from cases where somebody moves but is still deemed a resident for tax purposes.

                          These are just a few of many examples suggesting that anybody who wins the lottery and doesn't get qualified professional advice is probably a moron. Anybody who actually makes significant financial decisions based on advice they get on the internet is definitely a moron.

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                            NY
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                            October 16, 2005
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                            Posted: September 22, 2006, 1:50 pm - IP Logged

                            ya think? i should think massachusetts being richer than other states should be able to spend more on the lottery, ah well, i'll start buying $10 of megamillions on a single game once in a while

                            Being richer, they can probably afford to buy more crack, too, but I'm guessing there's something more than disposable income that people consider when deciding what to spend their money on.