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Indiana man wins $5M on scratch-off

Topic closed. 58 replies. Last post 5 years ago by CDanaT.

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dpoly1's avatar - driver
PA
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Posted: February 25, 2012, 5:35 pm - IP Logged

Mega Millions is one ROLL OVER from hitting the 100m range! What will happen in the Powerball tonight? Will an LP player finally hit or will it rollllll?

It has been a recent trend that Mega Millions has been rolling $11,000,000 for the Annuity & Powerball has been rolling $10,000,000! Getting curiouser & curiouser!  :$

dpoly1 - Playing the lottery to save the jobs of those that build, transport, sell & maintain luxury items! -

 

Eschew Poverty ........... Vote Conservative!

    maringoman's avatar - images q=tbn:ANd9GcTbRxpKQmOfcCoUqF2FyqIOAwDo7rg9G-lfJLAALPGWJWwiz19eRw
    Massachusetts
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    Posted: February 25, 2012, 5:37 pm - IP Logged

    Are you trying to imply maringoman, that spending $10,000,000 for a winning $20 scratcher is a bad deal??

    C'mon, Taxachusetts has got to make it's money somehow!   Green laugh

    Yeah make their money from other suckers. I grew tired of getting took. No more scratch offs for me.

    That money's gone fo ever


      United States
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      Posted: February 25, 2012, 5:42 pm - IP Logged

      Yeah make their money from other suckers. I grew tired of getting took. No more scratch offs for me.

      OK...........MA lotto retailers will be unhappy to hear this sad news.     Crying

        maringoman's avatar - images q=tbn:ANd9GcTbRxpKQmOfcCoUqF2FyqIOAwDo7rg9G-lfJLAALPGWJWwiz19eRw
        Massachusetts
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        Posted: February 25, 2012, 5:42 pm - IP Logged

        $3m lottery or $3m gambling (i.e., casino) addiction?  That's a lot of scratch tickets if the former.

        Anyway, the odds and payouts for instant tickets are better than draw games and they're also fun to play.

        http://www.lotterypost.com/news/140429 forgive me I exagerrated a little. It was $2.3M

        That money's gone fo ever


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          Posted: February 26, 2012, 6:35 am - IP Logged

          YAAHOOOO! Someone from  NY hit the Powerball last night for $70 million!!!

          Hope it was a rich, white wall streeter!!!   Banana

           

          Come on out you guy's with the "RIGGED" and "CONSPRICASY" theories.....only way to start the day.    Sun Smiley


            Bahamas
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            August 5, 2011
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            Posted: February 26, 2012, 9:19 am - IP Logged

            YAAHOOOO! Someone from  NY hit the Powerball last night for $70 million!!!

            Hope it was a rich, white wall streeter!!!   Banana

             

            Come on out you guy's with the "RIGGED" and "CONSPRICASY" theories.....only way to start the day.    Sun Smiley

            Someone has 70 million reasons to smile from EAR to EAR today!!!

            "Freedom of Speech? Keep reading and you will discover that freedom comes at a price!"

              sully16's avatar - sharan
              Ringleader
              Michigan
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              Posted: February 26, 2012, 9:25 am - IP Logged

              Thats cool, Congrats Rick

              Did you exchange a walk on part in the war ?

              For a lead role in a cage?

               

                                                          From Pink Floyd's " Wish you were here"

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                NY
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                October 16, 2005
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                Posted: February 26, 2012, 2:58 pm - IP Logged

                It probably was a wealthy white guy, or his wife/mistress/girlfriend. The ticket was sold in Hartsdale, which is right next to Scarsdale. Not a lot of poor people living there, except perhaps in the maid's room, or the staff quarters above the garage.

                Then again, it might be my cousin who's a plumber and sometimes works in that area, or anyone else passing through.

                FWIW, MUSL just squeaked by on this one. According to lottoreport, total sales for the run were about $140 million, which would have put about $45 million in the jackpot prize pool. The cash value for the advertised jackpot was $43.3 million, IIRC.

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                  Seattle, Washington
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                  January 3, 2012
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                  Posted: February 27, 2012, 7:47 am - IP Logged

                  Yeah after state (3.4%) and federal (25%) taxes, he should walk away with $2,434,400  Not bad for a $20? scratch ticket! (Article didn't say).

                  They'll take 25% for federal taxes minimum (and 3.4% for state, as you've indicated), but he'll end up paying 35% in federal taxes; I figure he'll net ~ $2.1 million after all taxes are fully paid.  I hope his tax advisor has told him to either have the max tax taken out up front, or invest the 10% difference for now & pay it at the end of the year.  God knows we've all heard the stories of unprepared lottery winners who have the standard 25% taken out, not figuring they'll have to pay more, & end up in trouble with the IRS...


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                    Posted: February 27, 2012, 9:48 am - IP Logged

                    They'll take 25% for federal taxes minimum (and 3.4% for state, as you've indicated), but he'll end up paying 35% in federal taxes; I figure he'll net ~ $2.1 million after all taxes are fully paid.  I hope his tax advisor has told him to either have the max tax taken out up front, or invest the 10% difference for now & pay it at the end of the year.  God knows we've all heard the stories of unprepared lottery winners who have the standard 25% taken out, not figuring they'll have to pay more, & end up in trouble with the IRS...

                    Thanks Seattlejohn. HaveABall pointed out that extra 10% of federal tax to me on this thread on the 25th.   Thumbs Up

                      dpoly1's avatar - driver
                      PA
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                      Posted: February 27, 2012, 11:44 am - IP Logged

                      The first Jackpot Win for Pennsylvania tomorrow in Mega Millions …… you saw it here first !

                      Dance  PartyA $51,750,000 wire transfer with an additional $6,900,000 Federal Tax obligation without any Income Tax mitigation! Woo Hoo, no State or Local Taxes in Pennsylvania on Lottey Winnings ............... Sun Smiley

                      dpoly1 - Playing the lottery to save the jobs of those that build, transport, sell & maintain luxury items! -

                       

                      Eschew Poverty ........... Vote Conservative!

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                        Elgin, IL
                        United States
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                        Posted: February 29, 2012, 4:57 am - IP Logged

                         To me, scratch games are whole lot harder to win because it's also about location and timing. Anyway congraturation to the winner.

                        And the MM and PB is not? Many win off scratch off tickets,  but very few win the MM or PB.

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                          Elgin, IL
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                          July 2, 2010
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                          Posted: February 29, 2012, 4:59 am - IP Logged

                          YAAHOOOO! Someone from  NY hit the Powerball last night for $70 million!!!

                          Hope it was a rich, white wall streeter!!!   Banana

                           

                          Come on out you guy's with the "RIGGED" and "CONSPRICASY" theories.....only way to start the day.    Sun Smiley

                          We all have to get to NY asap. Lucky, ______.

                            CDanaT's avatar - tiger avatar_04_hd_pictures_169016.jpg
                            TX
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                            January 4, 2012
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                            Posted: February 29, 2012, 10:14 am - IP Logged

                            The first Jackpot Win for Pennsylvania tomorrow in Mega Millions …… you saw it here first !

                            Dance  PartyA $51,750,000 wire transfer with an additional $6,900,000 Federal Tax obligation without any Income Tax mitigation! Woo Hoo, no State or Local Taxes in Pennsylvania on Lottey Winnings ............... Sun Smiley

                            Nice try DP !!!!!!!   No No.......I am leaning towards a winner from a ticket (namely mine) recently purchased up in a N.E. state...just so it with throw the conspiracy theorists off !

                            Stay Positive, Believe and good things will come your way