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Lucky Va. couple claims three major lottery prizes in one month

Topic closed. 79 replies. Last post 3 years ago by 1977.

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Gleno's avatar - Lottery-001.jpg
New Jersey
United States
Member #80354
September 25, 2009
705 Posts
Offline
Posted: April 1, 2014, 9:18 am - IP Logged

Jumping Jeepers, That's unbelievable. Hope they learn money management 101 quickly before they find ways to spend it as fast as they won it. Not that spending it is a bad thing because it would help the local economy. Coffee

    mrcraft's avatar - images3lp4 zps7dbb4a10.jpg
    Los Angeles, California
    United States
    Member #149492
    December 2, 2013
    919 Posts
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    Posted: April 1, 2014, 9:40 am - IP Logged

    Now that's Luck!!

     

    here's where I'm lost..

     

    .."Spencers had the choice of taking the full $1 million prize over 30 years or a one-time cash option of $681,000 before taxes.

     

    where do they get 681K from?...does the other 319K not count?...some shady-a$$ed lottery stuff there.

    I can't wrap my mind around the fact that if they won 1 million,then why aren't they taxed on the million and who gets the other 319K before the whole prize gets taxed?

    It's like MM and PB, some states advertise annuity values as their jackpots even on scratch tickets.  In California, if you win $1 million on $10 scratchers, that's what you win, period (minus taxes).  So, no one gets the $319K, it's just marketing.  I don't think it'll ever change for jackpot games for obvious reasons, but unless we're talking about "Lucky for Life" type instant games with weekly payments, advertising scratcher games with annuity values is misleading in my opinion..

      rcbbuckeye's avatar - Lottery-043.jpg
      Texas
      United States
      Member #55889
      October 23, 2007
      5615 Posts
      Offline
      Posted: April 1, 2014, 10:49 am - IP Logged

      Now that's Luck!!

       

      here's where I'm lost..

       

      .."Spencers had the choice of taking the full $1 million prize over 30 years or a one-time cash option of $681,000 before taxes.

       

      where do they get 681K from?...does the other 319K not count?...some shady-a$$ed lottery stuff there.

      I can't wrap my mind around the fact that if they won 1 million,then why aren't they taxed on the million and who gets the other 319K before the whole prize gets taxed?

      If they took the annuity, the lottery would have invested $681,000 to achieve the $1 million annuity over 30 years.

      CAN'T WIN IF YOU'RE NOT IN

      A DOLLAR AND A DREAM (OR $2)

        surimaribo24's avatar - photo11 zpsfffd70be.jpg
        NEW YORK. RIVERHEAD
        United States
        Member #106371
        February 17, 2011
        9704 Posts
        Offline
        Posted: April 1, 2014, 11:00 am - IP Logged

        simply amazing congrats to the couple .

        the timing was right 

        PETS#=105-215

          helpmewin's avatar - dandy
          u$a
          United States
          Member #106665
          February 22, 2011
          19908 Posts
          Offline
          Posted: April 1, 2014, 11:04 am - IP Logged

          What a blessing.

          I Agree! 100%

          Let it Snow Snowman

            ONEDAY's avatar - DiscoBallGlowing
            OHIO
            United States
            Member #5328
            June 30, 2004
            1284 Posts
            Offline
            Posted: April 1, 2014, 12:44 pm - IP Logged

            its all about timing indeed..I can buy a hundred $20 tickets and lose on almost all of them, then next person buys the 101 ticket and wins a millon!

            have a great winning day!

              miracleplay5's avatar - web
              Orange County, Florida
              United States
              Member #117114
              September 27, 2011
              995 Posts
              Offline
              Posted: April 1, 2014, 12:58 pm - IP Logged

              Yes that was a great story...happy for them...but the most surprising things about this story for me was a Tire and Auto shop selling lottery tickets and his wife got dropped off somewhere...ROFL..I guess I'm thinking she should have a car...but everybody doesnt driveYes Nod

              Pay less, win more & world peaceSee Ya!

              "No one cares how much you know until they know how much you care"-Theodore Rooosevelt

                Avatar

                United States
                Member #138603
                February 1, 2013
                35 Posts
                Offline
                Posted: April 1, 2014, 1:01 pm - IP Logged

                Now that's Luck!!

                 

                here's where I'm lost..

                 

                .."Spencers had the choice of taking the full $1 million prize over 30 years or a one-time cash option of $681,000 before taxes.

                 

                where do they get 681K from?...does the other 319K not count?...some shady-a$$ed lottery stuff there.

                I can't wrap my mind around the fact that if they won 1 million,then why aren't they taxed on the million and who gets the other 319K before the whole prize gets taxed?

                Welcome to the United States, where the only civilized country that taxes lottery winners anywhere in the world and the lottery legally gets away with it by lying about prize money. In this case, the lottery pays the full amount in annuity only but if you choose the cash amount then you only get the $681k. Unbelievable. Again, the only country where this happens. In any other place you win the advertised "jackpot" amount and not get taxed. I don't even mind the taxes to be honest but paying 1/3rd of the advertised amount while plastering pictures of winners all over media and announcing they have three times of the money makes no sense.

                  dallascowboyfan's avatar - tiana the-princess-and-the-frog.jpg
                  Oklahoma
                  United States
                  Member #82391
                  November 12, 2009
                  6290 Posts
                  Offline
                  Posted: April 1, 2014, 2:25 pm - IP Logged

                  Congratulations Calvin and Zatera Thumbs Up

                  I Love Pink & Green 1908

                    rick$'s avatar - nw dwarf5.jpg
                    nassau
                    Bahamas
                    Member #108378
                    March 24, 2011
                    55 Posts
                    Online
                    Posted: April 1, 2014, 2:39 pm - IP Logged

                    could some one tell me where is the 100 have not see it in a while.

                      HaveABall's avatar - rocket

                      United States
                      Member #72448
                      March 18, 2009
                      1228 Posts
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                      Posted: April 1, 2014, 4:29 pm - IP Logged

                      You should share your lottery jackpot with me.LOL

                      Whoops, THRIFTY, did you just "should" on somebody? Shocked

                      Having several millions of dollars in my financial accounts means receiving several valuable services each day!

                      Disney

                        sweetie7398's avatar - flower2
                        South Carolina
                        United States
                        Member #22702
                        September 30, 2005
                        3055 Posts
                        Offline
                        Posted: April 1, 2014, 10:24 pm - IP Logged

                        That's what I'm talking about.

                        Life, love, family Love

                          sflottolover's avatar - spherewall2
                          San Leandro, very near Oakland and San Francisco.
                          United States
                          Member #148590
                          November 5, 2013
                          98 Posts
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                          Posted: April 2, 2014, 12:54 am - IP Logged

                          Wow! Congra!

                          Thanks for your kindness to visit my posting; and left me your warmness for my slow chewing! 

                          Those who wants to win lottery is normal; and it is abnormal if anybody does not want to win!

                          http://www.writers-network.com/members/sfiawong


                            United States
                            Member #128790
                            June 2, 2012
                            5431 Posts
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                            Posted: April 2, 2014, 1:45 am - IP Logged

                            Crying

                              helpmewin's avatar - dandy
                              u$a
                              United States
                              Member #106665
                              February 22, 2011
                              19908 Posts
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                              Posted: April 2, 2014, 5:45 am - IP Logged

                              Crying

                              Green laugh

                              Let it Snow Snowman