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$1 Quick Pick nets lottery riches

Florida LotteryFlorida Lottery: $1 Quick Pick nets lottery riches

Windfall will include numerous taxes before state cuts final check

Kenneth Parsons, 59, of Live Oak, Florida, last week turned in the winning Mega Money ticket at the Florida Lottery's Tallahassee headquarters.

Parsons opted to forego monthly payments from the $800,000 annuity jackpot and instead opted to take a lump sum payment of $549,646.

Before Parsons can enjoy his riches, however, the Internal Revenue Service requires the Florida Lottery withhold 25 percent from each prize greater than $5,000 in federal withholding tax, said Jennifer Greene, public affairs specialist for the Florida Lottery.

The winning ticket holder must file a tax return listing the windfall, which can result in yet more taxes.

Lottery officials suggest that winning ticket holders consult an accountant.

Parsons bought the $1 Quick Pick winning ticket at the S&S Food Store on U.S. Highway 441 and Interstate 10. The winning ticket was drawn Friday.

The winning Mega Money numbers were: 21-29-32-42 with the Megaball number of 21.

The first four numbers are drawn from a pool of numbers 1 to 44, and the megaball number is drawn from a pool of numbers 1 to 22.

Drawings take place Tuesday and Friday evenings at 11 p.m., lottery officials said.

Thanks to JackpotWanna for the tip

Lake City Reporter

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20 comments. Last comment 9 years ago by MeFirstYouLast.
Page 1 of 2
CCHS13's avatar - chi jpeg.jpg
Illinois
United States
Member #46704
September 23, 2006
3692 Posts
Offline
Posted: May 5, 2008, 10:09 am - IP Logged

Before Parsons can enjoy his riches, however, the Internal Revenue Service requires the Florida Lottery withhold 25 percent

The winning ticket holder must file a tax return listing the windfall, which can result in yet more taxes

 

I have to get to CanadaMad

Men Lie Women Lie Numbers Dont

    jackpotismine's avatar - kanji for_peace.jpg
    Kunming
    China
    Member #57910
    January 23, 2008
    3626 Posts
    Offline
    Posted: May 5, 2008, 10:19 am - IP Logged

    Before Parsons can enjoy his riches, however, the Internal Revenue Service requires the Florida Lottery withhold 25 percent

    The winning ticket holder must file a tax return listing the windfall, which can result in yet more taxes

     

    I have to get to CanadaMad

    You play the numbers and they win. The I.R.S. is just another MOB. It's disgusting ain't it.Mad

    Play to win!

      Coin Toss's avatar - shape barbed.jpg
      Zeta Reticuli Star System
      United States
      Member #30470
      January 17, 2006
      10345 Posts
      Offline
      Posted: May 5, 2008, 2:38 pm - IP Logged

      You play the numbers and they win. The I.R.S. is just another MOB. It's disgusting ain't it.Mad

      Occassionally there's a mobster with a heart.

      Ahem.

      Anyone remember a 1980's crime seried with Ray Sharkey and Ken Wahl- Wahl was an undercover cop that became good friends with Sharkey who played the role of a mafia don -

      When Sharkey found out Wahl was a cop he told him the whole thing was about taxes -

      that even if someone was generating money illegally, once they did the government was right there with their hand out.

      Viet Nam era parody:

      My country tis of thee

      sweet land of liberty

      Oh Canada!

      Land where my brother hides

      sought by the F.B.I.

      his deserter buddies by his side

      Oh Canada!

      Maybe we should write a lotto jackpot version of that!!!

      Those who run the lotteries love it when players look for consistency in something that's designed not to have any.

      Lep

      There is one and only one 'proven' system, and that is to book the action. No matter the game, let the players pick their own losers.

        CCHS13's avatar - chi jpeg.jpg
        Illinois
        United States
        Member #46704
        September 23, 2006
        3692 Posts
        Offline
        Posted: May 5, 2008, 2:56 pm - IP Logged

        You play the numbers and they win. The I.R.S. is just another MOB. It's disgusting ain't it.Mad

        I Agree!

         

        I like that parody Coin Toss

        Men Lie Women Lie Numbers Dont

          ThatScaryChick's avatar - x1MqPuM
          Idaho
          United States
          Member #56506
          November 21, 2007
          6537 Posts
          Offline
          Posted: May 5, 2008, 3:18 pm - IP Logged

          You play the numbers and they win. The I.R.S. is just another MOB. It's disgusting ain't it.Mad

          I completely agree.

          "No one remembers the person who almost climbed the mountain, only the person who eventually gets to the top."

            Littleoldlady's avatar - basket
            Clarksville
            United States
            Member #487
            July 15, 2002
            17638 Posts
            Offline
            Posted: May 5, 2008, 7:09 pm - IP Logged

            Tax shelters, tax shelters, tax shelters..

            If you know your number is going to hit, have patience and then KILL IT!

            You never know when you will get another hit.

              Avatar
              Los Angeles CA
              United States
              Member #55727
              October 16, 2007
              195 Posts
              Offline
              Posted: May 5, 2008, 7:28 pm - IP Logged

              Umm yeah of course there are going to be taxes taken out, you know that going in, and if ya don't your a fool for playing a game you don't know the rules. Bitching about taxes is like bitching about death to me, ya know its gonna happen why let it bother ya. The guy will still clear over 300k on a dollar bet, not to shabby taxed or not.

              EXMECHANIC

              "My dollar buys hope, what does yours do?" 

                psykomo's avatar - animal shark.jpg

                United States
                Member #4877
                May 30, 2004
                5116 Posts
                Offline
                Posted: May 5, 2008, 7:42 pm - IP Logged

                Before Parsons can enjoy his riches, however, the Internal Revenue Service requires the Florida Lottery withhold 25 percent

                The winning ticket holder must file a tax return listing the windfall, which can result in yet more taxes

                 

                I have to get to CanadaMad

                WOW>>>>>>>>>>>>>o!o:

                DO QUICK PICK'ssssssssssssssssGET>>>>any BETTER???????????

                PSYKOMO........can remember when QP'$$$$$$$$$$$$$$$$$$$$$$

                were<<<<<<<<<<<........K@@L bouiey'&

                GULL's>>>>>TOO????????

                THREW all the BOUYIE'SSSSSSSSSSSOFFBOATAT>>>>>>>>>SEA!!!!!

                LOL

                PSYKOMO

                  JackpotWanna's avatar - squiz

                  United States
                  Member #4121
                  March 23, 2004
                  817 Posts
                  Offline
                  Posted: May 5, 2008, 8:03 pm - IP Logged

                  Just $1~ Very lucky indeed.

                    Badger's avatar - adu50016 NorthAmericanBadger.jpg
                    Wisconsin
                    United States
                    Member #1303
                    March 27, 2003
                    1508 Posts
                    Offline
                    Posted: May 5, 2008, 9:49 pm - IP Logged

                    Umm yeah of course there are going to be taxes taken out, you know that going in, and if ya don't your a fool for playing a game you don't know the rules. Bitching about taxes is like bitching about death to me, ya know its gonna happen why let it bother ya. The guy will still clear over 300k on a dollar bet, not to shabby taxed or not.

                    Yeah, its a nice payoff, but it's not a life-changer.

                    ============

                    How can you tell if a politician is lying?

                    Answer: His lips are moving.

                      CCHS13's avatar - chi jpeg.jpg
                      Illinois
                      United States
                      Member #46704
                      September 23, 2006
                      3692 Posts
                      Offline
                      Posted: May 5, 2008, 10:06 pm - IP Logged

                      Umm yeah of course there are going to be taxes taken out, you know that going in, and if ya don't your a fool for playing a game you don't know the rules. Bitching about taxes is like bitching about death to me, ya know its gonna happen why let it bother ya. The guy will still clear over 300k on a dollar bet, not to shabby taxed or not.

                      Paying taxes is one thing (Withholding before you get yours) but to have to pay again

                      upon filing at the end of that year is being bent over, Uncle Sam

                      Men Lie Women Lie Numbers Dont

                        psykomo's avatar - animal shark.jpg

                        United States
                        Member #4877
                        May 30, 2004
                        5116 Posts
                        Offline
                        Posted: May 5, 2008, 10:19 pm - IP Logged

                        Just $1~ Very lucky indeed.

                        THANK'ssssssssssssss$$$$$$$$$$

                        for >>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>UR $$$

                        PokeSmashDunkHit With StickArgueBash

                          Badger's avatar - adu50016 NorthAmericanBadger.jpg
                          Wisconsin
                          United States
                          Member #1303
                          March 27, 2003
                          1508 Posts
                          Offline
                          Posted: May 6, 2008, 9:42 am - IP Logged

                          Paying taxes is one thing (Withholding before you get yours) but to have to pay again

                          upon filing at the end of that year is being bent over, Uncle Sam

                          Our politicians can smell money in  your pocket.  Much like dogs can smell meat from a distance. I think its genetic.

                          ============

                          How can you tell if a politician is lying?

                          Answer: His lips are moving.

                            Avatar
                            NY
                            United States
                            Member #23835
                            October 16, 2005
                            3474 Posts
                            Offline
                            Posted: May 7, 2008, 1:31 am - IP Logged

                            Paying taxes is one thing (Withholding before you get yours) but to have to pay again

                            upon filing at the end of that year is being bent over, Uncle Sam

                            You don't pay again when you file your return. You pay the rest. Maybe you'd be happier of they withheld 35% and when you file your return you get a few bucks back?