Man buys wrong lottery ticket, wins $169 million

Nice one congrats

hurray for that brother in blue--congrats to my fellow staten islander also --it appears the NYPD just got another resignation --veryy good sgt viola --enjoy prosper god bless!!!!

Wow! $1 ticket!!

Nice observation

I agree with Gator!

Thanks

Congrats to the Viola couple but did they really have to show a picture of the husband? like his life is in any less dangerious as a cop.

That could be the reason the lottery waited to announce the win.

He put in for retirement and it takes a while for all the paperwork to go through.

By now, he is probably no longer a police officer.

Can some explain the math of a $169 million dollar win to less than $64 million after taxes. That's less than half. Thanks

$169 million is the value based on a 30-year annuity for megamillions if you choose to get paid over 30 years.. The actual cash value is a lot less if you choose the lump sum payment.They chose to receive the prize as a one-time lump sum payment of $64,796,160. Today, at the time of this post, Mega Millions is $449 million 30-year annuity, the cash value is only $313.3 million if you take one-time lump sum cash. Hope that makes it a little clearer for you. Remember 25% fed taxes and some portion of state taxes{if applicable} are also withheld before you see a dime of that money, then you go home and figure out what you owe come April 15. LOTTERY WINS SHOULD NEVER BE TAXED!!!.

Wow I didn't know that. I guess I would want to take 30 year annuinty to make sure I get all "my money" lol. So you have to pay taxes on your win every year as well? Time to figure out how those celebrities and 1% beat paying out their tax each year.

Yes, every year. It is sad that we are the only advanced nation that taxes lottery wins. Some idiots have said before, "If you don't like it, don't play".

Yes state taxes are applicable in this case, to the tune of 8.82% State and 3.5ish% City. 

An emergency room doctor saves  your life: His income is taxed

A soldier risks his life in the deserts of Iraq: His income is taxed

A food bank worker spends long hours helping people in need: Her income is taxed

You spend 5 minutes of your day off the sofa to get some tickets for a game of chance and happen to  win big: Tax free?

We need to have a flat national rate of 50%. If you live in Texas then it's 50% Federal, 0% State, If you live in Buffalo (NY) then it's 41.18% Federal, 8.82% State etc etc. That way all you need is the cash value and you'll instantly know how much you'll get.   

WRONG

Only 9 countries give it tax free (Australia, Canada, Finland, Germany, Ireland, Italy, Liechentstein, New Zealand, and the UK).   

+Austria, Poland, Hungary, Czech republic, Denmark, Sweden, Norway, Iceland, Ireland, Netherlands, Belgium, Luxemburg, Malta, Gibraltar, Hong Kong, China, Japan, Taiwan...