One ticket sold in Maine wins $1.35 billion Mega Millions jackpot

Jan 14, 2023, 8:22 am (65 comments)

Mega Millions

Updated with final jackpot amount and cash value

By Todd Northrop

Friday the 13th was the luckiest day in the life of someone in Maine who purchase a lottery ticket that won a staggering $1.348 billion last night.

After a run of 25 drawings without a jackpot winner, the 26th drawing of the multi-state Mega Millions game produced a single $1.348 billion winner last night when one lottery ticket sold in Maine matched all five numbers plus the Mega Ball.

The whopping jackpot is the fourth-largest the world has ever seen, and the second-largest in Mega Millions game history.

The winner of the unimaginable haul will choose between being paid $1.348 billion in 30 annually-increasing payments over 29 years or the lump-sum cash value of $723.5 million.

According to USA Mega's Mega Millions Jackpot Analysis, after all taxes are paid, the winner either will receive $754 million by the end of 29 years, or $404.1 million in cash all at once. Maine has a 7.15% state tax rate.

The winning ticket was sold in Lebanon, at Hometown Gas & Grill, according to the Maine State Lottery.

Friday the 13th is a popular date in Mega Millions history — now the seventh time there was a grand prize winner on the superstitious date — but it is the first time a Mega Millions jackpot has been won in the state of Maine.

"Congratulations to the Maine State Lottery, which has just won its first-ever Mega Millions jackpot," Pat McDonald, Ohio lottery director and lead director of the Mega Millions Consortium, said in a statement early Saturday. "We thank all our retailers for their hard work during this spectacular run, and our customers for their enthusiasm and support. I hope the fun and excitement Mega Millions has generated inspires a winning attitude in our daily lives and towards everyone we meet. Here's to a good year!"

Maine has been selling Mega Millions ticket since May 9, 2010.

The Mega Millions winning numbers for Friday, January 13, 2023, were 30, 43, 45, 46, and 61, with Mega Ball number 14. The Megaplier was 2.

It's hard to imagine the winner getting much sleep Friday night, as they try to process winning such an unimaginably huge lottery jackpot awarded to a single ticket — the one they're holding in their hand.

Millions of lottery players in the USA and around the world are wondering what they are planning to do with all that loot.

What is the first thing you would do?

(Here's what we would do.)

The public may or may not find out the identity of the winner, as Maine does not have privacy laws that allow a winner to claim a lottery jackpot anonymously. However, in a 2018 news story Maine Lottery Director of Operations Michael Boardman was quoted, explaining that a winner in Maine could technically remain anonymous by claiming under a trust. "What a winner could do in Maine is they could file their claim in the name of a trust, and the trust becomes the winner. So that's how a winner could claim their ticket anonymously," [Boardman said].

Lottery Post maintains a list of every state's anonymity policies for lottery winners, and Lottery Post published a comprehensive video presentation about each state's anonymity laws.

Fortunately, even if you didn't win the jackpot, the Mega Millions game still offers another 8 ways to win lower-tier prizes.

In addition to the jackpot winner, 14 lucky players matched the first 5 numbers for a $1,000,000 prize: 2 from California, 1 from Florida, 1 from Illinois, 1 from Kansas, 1 from Kentucky, 1 from Missouri, 1 from North Carolina, 4 from New York, 1 from Pennsylvania, and 1 from Texas.

None of the second prize-winning tickets were purchased with the Megaplier option for an extra $1, which would have increased their prize to $2 million after being multiplied by the Megaplier number of 2.  The two California second prize winners will each claim a prize of $928,260 because unlike all the other Mega Millions states, California awards all prizes on a pari-mutuel basis, meaning the prizes will change each drawing based on the number of tickets sold and the number of tickets that won at each prize level.

164 tickets matched four white numbers plus the Mega Ball and won $10,000. Of those tickets, 27 were purchased with the Megaplier option, increasing the prize to $20,000, and 26 were sold in California, where the prize was $9,892 this drawing.

In total, more than 7 million tickets won prizes across the game's nine prize tiers in Friday's drawing. Apart from the jackpot, there were $46.5 million in prizes awarded last night.

A complete list of payouts for all prizes and the official drawing video can be found at USA Mega's Mega Millions Drawing Information page, as well as at Lottery Post's Mega Millions Prize Payouts page.

The record-holder for the world's largest lottery jackpot was a $2.04 billion Powerball jackpot in Nov. 2022, won by a single ticket sold in California. The winner has not yet claimed the prize.

The odds of winning the Mega Millions jackpot are 1 in 302.6 million.

Had no one matched all of the numbers drawn lottery officials said the next jackpot would have reached $1.6 billion.

With the jackpot being won Friday, the next Mega Millions annuity jackpot estimate is reset to its starting point of $20 million.

Mega Millions is currently offered for sale in 45 states, plus Washington, D.C. and the U.S. Virgin Islands. Drawings are Tuesdays and Fridays at 11:00 pm Eastern Time. Tickets cost $2 each.

The Mega Millions winning numbers are published at USA Mega (www.usamega.com) minutes after the drawing takes place.

Top 25 United States lottery jackpots of all time

Friday's $1.35 billion Mega Millions jackpot stands as the fourth-largest lottery jackpot of all time in the United States — and the world.

  1. Powerball: $2.0401 billion, Nov. 7, 2022 (40 rollovers, starting at $20 million) - California
  2. Powerball: $1.5864 billion, Jan. 13, 2016 (19 rollovers, starting at $40 million) - California, Florida, Tennessee
  3. Mega Millions: $1.537 billion, Oct. 23, 2018 (25 rollovers, starting at $40 million) - South Carolina
  4. Mega Millions: $1.348 billion, Jan. 13, 2023 (25 rollovers, starting at $20 million) - Maine
  5. Mega Millions: $1.337 billion, Jul. 29, 2022 (29 rollovers, starting at $20 million) - Illinois
  6. Mega Millions: $1.05 billion, Jan. 22, 2021 (36 rollovers, starting at $20 million) - Michigan
  7. Powerball: $768.4 million, Mar. 27, 2019 (25 rollovers, starting at $40 million) - Wisconsin
  8. Powerball: $758.7 million, Aug. 23, 2017 (20 rollovers, starting at $40 million) - Massachusetts
  9. Powerball: $731.1 million, Jan. 20, 2021 (35 rollovers, starting at $20 million) - Maryland
  10. Powerball: $699.8 million, Oct. 4, 2021 (40 rollovers, starting at $20 million) - California
  11. Powerball: $687.8 million, Oct. 27, 2018 (21 rollovers, starting at $40 million) - Iowa, New York
  12. Mega Millions: $656 million, Mar. 30, 2012 (18 rollovers, starting at $12 million) - Illinois, Kansas, Maryland
  13. Mega Millions: $648 million, Dec. 17, 2013 (21 rollovers, starting at $12 million) - California, Georgia
  14. Powerball: $632.6 million, Jan 5, 2022 (39 rollovers, starting at $20 million) - California, Wisconsin
  15. Powerball: $590.5 million, May 18, 2013 (13 rollovers, starting at $40 million) - Florida
  16. Powerball: $587.5 million, Nov. 28, 2012 (15 rollovers, starting at $40 million) - Arizona, Missouri
  17. Powerball: $564.1 million, Feb. 11, 2015 (20 rollovers, starting at $40 million) - North Carolina, Puerto Rico, Texas
  18. Powerball: $559.7 million, Jan. 6, 2018 (20 rollovers, starting at $40 million) - New Hampshire
  19. Mega Millions: $543 million, Jul. 24, 2018 (22 rollovers, starting at $40 million) - California
  20. Mega Millions: $536 million, Jul. 8, 2016 (34 rollovers, starting at $15 million) - Indiana
  21. Mega Millions: $533 million, Mar. 30, 2018 (23 rollovers, starting at $40 million) - New Jersey
  22. Mega Millions: $522 million, Jun. 7, 2019 (24 rollovers, starting at $40 million) - California
  23. Mega Millions: $516 million, May 21, 2021 (26 rollovers, starting at $20 million) - Pennsylvania
  24. Mega Millions: $502 million, Oct. 14, 2022 (21 rollovers, starting at $20 million) - California, Florida
  25. Powerball: $487 million, Jul. 30, 2016 (23 rollovers, starting at $40 million) - New Hampshire

For those keeping score, the number of jackpots in the top 25, by lottery game, are:

  • Powerball: 13
  • Mega Millions: 12

Top 25 cash value jackpots

The Friday Mega Millions jackpot ranks as the 6th-largest cash value in world history.

  1. Powerball: $997.6 million cash, Nov. 7, 2022 ($2.0401 billion annuity) - California
  2. Powerball: $983.5 million cash, Jan. 13, 2016 ($1.5864 billion annuity) - California, Florida, Tennessee
  3. Mega Millions: $877.8 million cash, Oct. 23, 2018 ($1.537 billion annuity) - South Carolina
  4. Mega Millions: $780.5 million cash, Jul. 29, 2022 ($1.337 billion annuity) - Illinois
  5. Mega Millions: $776.6 million cash, Jan. 22, 2021 ($1.05 billion annuity) - Michigan
  6. Mega Millions: $723.5 million cash, Jan. 13, 2023 ($1.348 billion annuity) - Maine
  7. Powerball: $546.8 million cash, Jan. 20, 2021 ($731.1 million annuity) - Maryland
  8. Powerball: $496 million cash, Oct. 4, 2021 ($699.8 million annuity) - California
  9. Powerball: $480.5 million cash, Aug. 23, 2017 ($758.7 million annuity) - Massachusetts
  10. Powerball: $477 million cash, Mar. 27, 2019 ($768.4 million annuity) - Wisconsin
  11. Mega Millions: $471 million cash, Mar. 30, 2012 ($656 million annuity) - Illinois, Kansas, Maryland
  12. Powerball: $450.2 million cash, Jan. 5, 2022 ($632.6 million annuity) - California, Wisconsin
  13. Powerball: $396.2 million cash, Oct. 27, 2018 ($687.8 million annuity) - Iowa, New York
  14. Powerball: $384.7 million cash, Nov. 28, 2012 ($587.5 million annuity) - Arizona, Missouri
  15. Powerball: $381.1 million cash, Feb. 11, 2015 ($564.1 million annuity) - North Carolina, Puerto Rico, Texas
  16. Mega Millions: $378 million cash, Jul. 8, 2016 ($536 million annuity) - Indiana
  17. Powerball: $370.9 million cash, May 18, 2013 ($590.5 million annuity) - Florida
  18. Powerball: $352 million cash, Jan. 6, 2018 ($559.7 million annuity) - New Hampshire
  19. Mega Millions: $349.3 million cash, May 21, 2021 ($516 million annuity) - Pennsylvania
  20. Mega Millions: $347.6 million cash, Dec. 17, 2013 ($648 million annuity) - California, Georgia
  21. Powerball: $341.7 million cash, Jul. 30, 2016 ($487 million annuity) - New Hampshire
  22. Mega Millions: $340 million cash, Jun. 7, 2019 ($522 million annuity) - California
  23. Mega Millions: $324 million cash, Mar. 30, 2018 ($533 million annuity) - New Jersey
  24. Mega Millions: $320.5 million cash, Jul. 24, 2018 ($543 million annuity) - California
  25. Mega Millions: $319.9 million cash, Jun. 9, 2020 ($414 million annuity) - Arizona

The number of cash value jackpots in the top 25, by lottery game, are:

  • Powerball: 13
  • Mega Millions: 12

Lottery Post Staff

Comments

DDBagger519

Patiently awaiting all of the comments stating that the lottery is rigged.

rcbbuckeye's avatarrcbbuckeye

Quote: Originally posted by DDBagger519 on Jan 14, 2023

Patiently awaiting all of the comments stating that the lottery is rigged.

Rigged......🤣

hearsetrax's avatarhearsetrax

SAJAN123456

What should I do then ? DANCE ?

Raven62's avatarRaven62

Congrats to the Winner(s)!

scorpio45

musta been a quick pick?

msharkey2001's avatarmsharkey2001

Wow Hometown Gas is 2 miles from my house! Hoping the winner is somebody I know. Congrats to them. They are now the richest and most taxed individual in the state of Maine.

billybucks

Quote: Originally posted by DDBagger519 on Jan 14, 2023

Patiently awaiting all of the comments stating that the lottery is rigged.

    I know, some people actually believe there is such a thing as a lucky state or unlucky state or even a lucky store. Gee,  they say store on the state border sells a lot of winning tickets. Or it must be rigged because California has the most winners. These people should be banned from playing.

heisenberg991

I'm moving to Maine. I need some luck going forward on the next billion dollar drawing.

steven10969

Let me guess the winner is an old guy/lady

andl's avatarandl

Hopefully in a few weeks for the Powerball.

Think's avatarThink

"The whopping jackpot is the fourth-largest the world has ever seen, and the second-largest in Mega Millions game history"

 

Well hmmm.... Looks like the sixth largest and fourth largest to me

  "Powerball: $997.6 million cash, Nov. 7, 2022 ($2.0401 billion annuity) - California
    Powerball: $983.5 million cash, Jan. 13, 2016 ($1.5864 billion annuity) - California, Florida, Tennessee
    Mega Millions: $877.8 million cash, Oct. 23, 2018 ($1.537 billion annuity) - South Carolina
    Mega Millions: $780.5 million cash, Jul. 29, 2022 ($1.337 billion annuity) - Illinois
    Mega Millions: $776.6 million cash, Jan. 22, 2021 ($1.05 billion annuity) - Michigan
    Mega Millions: $724.6 million cash, Jan. 13, 2023 ($1.35 billion annuity) - Maine"

Think's avatarThink

Quote: Originally posted by steven10969 on Jan 14, 2023

Let me guess the winner is an old guy/lady

It was the Altadena California winner who was visiting relatives in Maine before cashing the ticket they bought in California

Mata Garbo

Congrats to the very lucky winner. This is the very first time I have ever heard of a big jackpot winner from Maine, i'm sure they are excited, especially the friends and relatives.......lol.

🚤⛵⛵

Todd's avatarTodd

Quote: Originally posted by Think on Jan 14, 2023

"The whopping jackpot is the fourth-largest the world has ever seen, and the second-largest in Mega Millions game history"

 

Well hmmm.... Looks like the sixth largest and fourth largest to me

  "Powerball: $997.6 million cash, Nov. 7, 2022 ($2.0401 billion annuity) - California
    Powerball: $983.5 million cash, Jan. 13, 2016 ($1.5864 billion annuity) - California, Florida, Tennessee
    Mega Millions: $877.8 million cash, Oct. 23, 2018 ($1.537 billion annuity) - South Carolina
    Mega Millions: $780.5 million cash, Jul. 29, 2022 ($1.337 billion annuity) - Illinois
    Mega Millions: $776.6 million cash, Jan. 22, 2021 ($1.05 billion annuity) - Michigan
    Mega Millions: $724.6 million cash, Jan. 13, 2023 ($1.35 billion annuity) - Maine"

Why would you take the cash value and then compare it out of context to a sentence that discusses the annuity ranking?

Think's avatarThink

Quote: Originally posted by Todd on Jan 14, 2023

Why would you take the cash value and then compare it out of context to a sentence that discusses the annuity ranking?

The annuity ranking is pointless.  There are ways to manipulate the annuity rating to anything you want but it is way harder to manipulate the cold hard cash value.  (near the end, on this jackpot, the cash value went up but they didn't change the annuity amount on this roll)

 

There is that old joke about the lottery with the trillion dollar jackpot  paid out as a dime a year for ten trillion years if you are missing the point.

Besides the annuity values have a steady percentage increase built in even though they have no idea what inflation will be over 29 or 30 years.

Even the cash value rankings are impacted by inflation but with that they are somewhat easier to compare while adjusting for inflation.

wander73's avatarwander73

Quote: Originally posted by DDBagger519 on Jan 14, 2023

Patiently awaiting all of the comments stating that the lottery is rigged.

better chance at a state lottery than the big one.

wander73's avatarwander73

Quote: Originally posted by Think on Jan 14, 2023

"The whopping jackpot is the fourth-largest the world has ever seen, and the second-largest in Mega Millions game history"

 

Well hmmm.... Looks like the sixth largest and fourth largest to me

  "Powerball: $997.6 million cash, Nov. 7, 2022 ($2.0401 billion annuity) - California
    Powerball: $983.5 million cash, Jan. 13, 2016 ($1.5864 billion annuity) - California, Florida, Tennessee
    Mega Millions: $877.8 million cash, Oct. 23, 2018 ($1.537 billion annuity) - South Carolina
    Mega Millions: $780.5 million cash, Jul. 29, 2022 ($1.337 billion annuity) - Illinois
    Mega Millions: $776.6 million cash, Jan. 22, 2021 ($1.05 billion annuity) - Michigan
    Mega Millions: $724.6 million cash, Jan. 13, 2023 ($1.35 billion annuity) - Maine"

there goes the joe biden number 46.

fellini

I'm glad someone from Ca didn't win. Mad that I didn't win. And I hope the winner doesn't claim the prize anonymously!!!

scorpio45

strange,i been copying winners numbers for weeks but then they don't win.the lotteries don't tell if it was a quick pick as they can put a quick pick in any state they want to win.

sdw1000

I am not playing anymore. It's a big scam. Just a waste of my money.

sdw1000

Quote: Originally posted by heisenberg991 on Jan 14, 2023

I'm moving to Maine. I need some luck going forward on the next billion dollar drawing.

Good luck with that...LOL They've won like ONCE..EVER!

Clarkejoseph49's avatarClarkejoseph49

Now the focus is on that $400 million+ PowerBall Jackpot.

Maziyar85's avatarMaziyar85

It's not scam  you should analyze each numbers from recent results then play with math formula.

 

All drawing games works with specific math formula.

noise-gate

Quote: Originally posted by Clarkejoseph49 on Jan 14, 2023

Now the focus is on that $400 million+ PowerBall Jackpot.

* That's exactly where l am, and the low hanging fruit- aka The State lottery which sits at $7 Mil take home after tax. Either win would do!

noise-gate

Quote: Originally posted by fellini on Jan 14, 2023

I'm glad someone from Ca didn't win. Mad that I didn't win. And I hope the winner doesn't claim the prize anonymously!!!

* You glad? That statement is definitely not felliniesque.

PrisonerSix

Quote: Originally posted by Clarkejoseph49 on Jan 14, 2023

Now the focus is on that $400 million+ PowerBall Jackpot.

I have 2 for tonight. I won $20 on MM which helped pay for the extra tickets. 

I think it would be cool to win 2 weeks from now since that's my birthday, but I'll take a win anytime.

db101's avatardb101

We went out to dinner early last night and the party at the next table was doing a toast to winning the Mega Millions. They were apparently a part of a lottery pool. I wonder if the Maine winner was actually a group buy.

sully16's avatarsully16

Congrats to the Lucky winner, enjoy.

Wavepack

"The record-holder for the world's largest lottery jackpot was a $2.04 billion Powerball jackpot in Nov. 2022, won by a single ticket sold in California. The winner has not yet claimed the prize."

 

What's the average time taken after a jackpot pick to claim the Powerball jackpot over the last 10 years?

 

Very suspect that no one has claimed the largest lotto jackpot ever.   This was the draw with the super long delay.    This story doesn't add up as it stands.     

 

Could it be a scheme by an insider State employee to direct the winnings to their department's spending control?

DDBagger519

Quote: Originally posted by Wavepack on Jan 14, 2023

"The record-holder for the world's largest lottery jackpot was a $2.04 billion Powerball jackpot in Nov. 2022, won by a single ticket sold in California. The winner has not yet claimed the prize."

 

What's the average time taken after a jackpot pick to claim the Powerball jackpot over the last 10 years?

 

Very suspect that no one has claimed the largest lotto jackpot ever.   This was the draw with the super long delay.    This story doesn't add up as it stands.     

 

Could it be a scheme by an insider State employee to direct the winnings to their department's spending control?

Remember, California was also the first state to immediately come out the night the draw was supposed to happen and said the drawing was being delayed due to a security issue in another state.  IMO, lots of people lost trust in the big two lotteries after that entire fiasco.

En ReVal

Remember, the lotto winner in South Carolina who last won the $1.5 took abt 6 months, nothing strange

I gather it takes a while to write up a will, etc.

grwurston's avatargrwurston

Future headline. Winner of 1.35 billion Mega Millions jackpot finds misplaced winning ticket in car one week before expiration date. 

dickblow

lottery is so rigged alll that money

EnReval

PB only went up $12 mil

 

I guess people spent all their $$ on MM

goldfish777

Wow, Congratulation to the winner! With big jackpots like these I always hope it's a group of people like coworkers or something.

ShagE3

Hi ShagE3 here ... I've visited this site for many years but just became a member so I'm a first time/ longtime.  Anyway my question to everybody is this : had the Maine winning ticket been bought in New Hampshire and assuming the holder of the ticket is a Maine resident . . . could he/she get away from paying Maine taxes by simply moving to New Hampshire before claiming the prize? Perhaps one has to set up residence and live a certain amount of time instate like 90 days or 180 days before being official and then claim the prize?  What are your thoughts?

KY Floyd's avatarKY Floyd

"They are now the richest and most taxed individual in the state of Maine. "

No telling whether they'll want it a for themselves or give a lot to charity, but after taxes they could end up with a bit over $400 million. Their tax bill would be higher but they'd still be about $100 million poorer than Stephen King. I didn't bother asking Google, but I think that King is the richest resident of Maine.

"could he/she get away from paying Maine taxes by simply moving to New Hampshire before claiming the prize? "

Yes. The money doesn't become taxable income until claiming it, so a ME resident could move to NH and then claim the prize as a NH resident. King winters in FL but apparently hasn't made that his  domicile in order to save on state income tax. No telling where the winner of this jackpot will end up, but they bought the ticket less than 2 miles from the nearest lottery retailer in NH, where the potential savings on state income tax is almost $52 million. I generally figure it doesn't make sense to drive out of your way to buy a ticket but I'd have driven that 4 mile round trip.

"Why would you take the cash value and then compare it out of context to a sentence that discusses the annuity ranking? "

You mean the sentence that says "The whopping jackpot is the fourth-largest the world has ever seen, and the second-largest in Mega Millions game history"? There's absolutely no context in which that sentence discusses the annuity ranking. I understand why the lotteries advertise inflated jackpots that aren't real, but anyone who pays attention knows that virtually all jackpots are paid as cash prizes.

"near the end, on this jackpot, the cash value went up but they didn't change the annuity amount on this roll "

That has now happened several times with MM.  Advertising the jackpot as an annuity value that virtually nobody will take is hyperbole, but I'm inclined to think the increased cash values they've been posting might be actual fraud. It just seems wildly unlikely that an updated sales forecast combined with a lower interest rate has coincidentally  resulted in no change to the annuity value each time.

hopeiwin

Quote: Originally posted by Clarkejoseph49 on Jan 14, 2023

Now the focus is on that $400 million+ PowerBall Jackpot.

It would take another month (around 6th to 15th of February) to reach another $1B+ jackpot if no one wins.

TheMeatman2005's avatarTheMeatman2005

Quote: Originally posted by hopeiwin on Jan 15, 2023

It would take another month (around 6th to 15th of February) to reach another $1B+ jackpot if no one wins.

I can wait!

PrisonerSix

Quote: Originally posted by ShagE3 on Jan 15, 2023

Hi ShagE3 here ... I've visited this site for many years but just became a member so I'm a first time/ longtime.  Anyway my question to everybody is this : had the Maine winning ticket been bought in New Hampshire and assuming the holder of the ticket is a Maine resident . . . could he/she get away from paying Maine taxes by simply moving to New Hampshire before claiming the prize? Perhaps one has to set up residence and live a certain amount of time instate like 90 days or 180 days before being official and then claim the prize?  What are your thoughts?

In most states that have state income tax, any income from that state is subject to state income tax regardless of state of residence. Unless the state exempts lottery winnings from state income taxes, there is no way to get out of paying income taxes to that state.

In my state(Louisiana), if a full time resident of the state has to pay state income taxes to another state for some reason, those taxes can be deducted as a non-refundable credit from what Louisiana is requiring the individual to pay. It's probably the same or similar in other states, so there's really no way to get out of paying.

ShagE3

Quote: Originally posted by PrisonerSix on Jan 15, 2023

In most states that have state income tax, any income from that state is subject to state income tax regardless of state of residence. Unless the state exempts lottery winnings from state income taxes, there is no way to get out of paying income taxes to that state.

In my state(Louisiana), if a full time resident of the state has to pay state income taxes to another state for some reason, those taxes can be deducted as a non-refundable credit from what Louisiana is requiring the individual to pay. It's probably the same or similar in other states, so there's really no way to get out of paying.

Let me try to clarify .... If I currently live in state A which has an income tax but I buy the winning ticket in state B that has no income tax ..... Could I move to state B .... establish residency and collect my winnings tax free? Another words leave state A move to state B and collect in my new state?

Artist77's avatarArtist77

Quote: Originally posted by ShagE3 on Jan 15, 2023

Let me try to clarify .... If I currently live in state A which has an income tax but I buy the winning ticket in state B that has no income tax ..... Could I move to state B .... establish residency and collect my winnings tax free? Another words leave state A move to state B and collect in my new state?

No.

ShagE3

Quote: Originally posted by Artist77 on Jan 15, 2023

No.

Any other opinions or thoughts? Anybody?

Artist77's avatarArtist77

Quote: Originally posted by ShagE3 on Jan 15, 2023

Any other opinions or thoughts? Anybody?

The state lottery has to set aside a fixed percentage of fed and state taxes after the win and before the winner comes forward. Most states require 6 months or more to establish residency. It would look like you were intentionally trying to avoid paying additional taxes to state A and it would likely be flagged for an audit with a huge jp win.

There is an offsetting credit between states so you would not be double taxed if both states had state taxes.

ShagE3

Quote: Originally posted by Artist77 on Jan 15, 2023

The state lottery has to set aside a fixed percentage of fed and state taxes after the win and before the winner comes forward. Most states require 6 months or more to establish residency. It would look like you were intentionally trying to avoid paying additional taxes to state A and it would likely be flagged for an audit with a huge jp win.

There is an offsetting credit between states so you would not be double taxed if both states had state taxes.

Technically speaking the ticket isn't official to it's signed right?..... So I could sign it after having established residency but before the expiration date for claiming the ticket, I would think it is legally possible but highly improbable.  I guess the reason why I'm beating down a dead horse is that for the Friday mm draw the difference in state income tax was tens of millions of dollars $60 mil + wouldn't you want to save that kind of dough?

Ranett's avatarRanett

I believe they go by where you reside when you purchased the ticket.

Otherwise you have jackpot winners moving to states with no state income tax before claiming their winnings.

Artist77's avatarArtist77

Quote: Originally posted by ShagE3 on Jan 15, 2023

Technically speaking the ticket isn't official to it's signed right?..... So I could sign it after having established residency but before the expiration date for claiming the ticket, I would think it is legally possible but highly improbable.  I guess the reason why I'm beating down a dead horse is that for the Friday mm draw the difference in state income tax was tens of millions of dollars $60 mil + wouldn't you want to save that kind of dough?

No. I would not want to risk paying a tax penalty or worse for such a stunt. I would pay what I owe and not be so greedy. Reread my first sentence.

Todd's avatarTodd

The story has been updated with the final jackpot tally: $1.348 billion, or $723.5 million cash option.

winterhug

Quote: Originally posted by DDBagger519 on Jan 14, 2023

Patiently awaiting all of the comments stating that the lottery is rigged.

The people who are constantly saying the lottery is rigged are angry because they have not won yet. Also these people most likely are the ones who only play when the jackpot gets huge. They think the jackpot prize is the only money to be won so, if their ticket matches 5 out 6, 4 out of 6 and so on, they throw the ticket away, not knowing or don't care that  there are smaller prizes to be won.

Sabmax

There is Only ONE winner. Besides, one couldn't spend that in a lifetime.  The lottery is a S.

Sabmax

It definitely is where I am.

Tony Numbers's avatarTony Numbers

The lottery isn't rigged, its the payout stipulations that are crafted to the states benefit. Just like the proceeds are supposed to go toward education, instead it goes into the general fund, and it's up to the lottery winner to file suit, (they never do) besides do you think that someone who scores a 500 million cash value jackpot gives a flock how much they are taxed???

billybucks

Quote: Originally posted by sully16 on Jan 14, 2023

Congrats to the Lucky winner, enjoy.

  The winners will wake up in the morning just like everyone else does wondering what to do today. After about a week they will wish they never won the thing.

Todd's avatarTodd

Quote: Originally posted by billybucks on Jan 16, 2023

  The winners will wake up in the morning just like everyone else does wondering what to do today. After about a week they will wish they never won the thing.

Lemme guess, after they get sick of being billionaires next week they should give it to you? 😂

THRIFTY's avatarTHRIFTY

Quote: Originally posted by DDBagger519 on Jan 14, 2023

Patiently awaiting all of the comments stating that the lottery is rigged.

The lottery is rigged. You will never win a lottery jackpot in your lifetime.

Win$500Quick's avatarWin$500Quick

viceroy2's avatarviceroy2

Well, since Powerball tonight is about 415 Million I'll put my own
neurotic predictions out there.
03-16-17-30-33, 18
03-16-20-33-46, 08
03-08-12-45-55, 08
13-16-19-30-39, 18

I post these so they DON'T come out on a given night, because I either can't get to the store, or I don't have the money to play them.  I always have a reoccuring nightmare that These numbers come out... and I don't play them.

Well... I post them... so... there you go...

CDanaT's avatarCDanaT

Quote: Originally posted by Sabmax on Jan 16, 2023

There is Only ONE winner. Besides, one couldn't spend that in a lifetime.  The lottery is a S.

Just curious...... How do you know for certain there is "Only ONE winner"?? Perhaps the ticket sold was bought for a group ? Or the purchaser is sharing with family or friends.

As far as spending $400,000,000. is concerned ???

https://www.superyachts.com/luxury-yacht-for-sale/ije-4393/      $209,000,000.00

https://wealthygorilla.com/most-expensive-private-jets/        $44M - $120M

https://robbreport.com/feature/most-expensive-houses-world-sale-now-2807417/

(Just #17-25 on the above  link for homes)

There !!!!   Spent it for ya 

KY Floyd's avatarKY Floyd

"Technically speaking the ticket isn't official to it's signed right? "

The ticket is official the moment the  central computer authorizes it and lets the terminal print it. It's not definitely a winning ticket until the lottery validates it and declares it a winner. Signing it has nothing to do with either of those things.

It's almost always for other reasons, but people move to different states all the time. There's a waiting period before you can vote in your new state, but your tax status changes as soon as you move because it's determined by residency.

"Otherwise you have jackpot winners moving to states with no state income tax before claiming their winnings.

Taxes are based on where the income is from or where you reside when the income becomes taxable. The winner in Maine can move whenever and wherever they want, but the ticket was sold in Maine so it's subject to Maine's income tax, and moving won't change that. The same is true for every other winning ticket sold in a state with an income tax on winnings from the state's lottery. Moving out of a state will only affect future income that doesn't come from the state you moved out of. To benefit from moving you have to have bought the ticket in a state that has lower taxes.

paymentplan-man

Quote: Originally posted by steven10969 on Jan 14, 2023

Let me guess the winner is an old guy/lady

Rumor has it that someone's pet dog Sir. Barksalot won it all.

hearsetrax's avatarhearsetrax

Quote: Originally posted by CDanaT on Jan 17, 2023

Just curious...... How do you know for certain there is "Only ONE winner"?? Perhaps the ticket sold was bought for a group ? Or the purchaser is sharing with family or friends.

As far as spending $400,000,000. is concerned ???

https://www.superyachts.com/luxury-yacht-for-sale/ije-4393/      $209,000,000.00

https://wealthygorilla.com/most-expensive-private-jets/        $44M - $120M

https://robbreport.com/feature/most-expensive-houses-world-sale-now-2807417/

(Just #17-25 on the above  link for homes)

There !!!!   Spent it for ya 

Tooo funny !!

jwdog

I'm sure this has probably been discussed in some thread but I have always wondered if instead of choosing to take the cash option jackpot you and a financial advisor team could opt to claim the annuity and then sell the annuity to some financial/investment group or company.  I'm sure it would be for less than the total payout of the annuity but it could be considerably more than the cash option.  Has anyone ever heard of this being done?

KY Floyd's avatarKY Floyd

People used to sell the remainder of the annuity fairly often back when the annuity was the only choice. The annuity  is from buying very safe and conservative investments, so  you can definitely find a better rate, but you'll give up some security. I seriously doubt that you could sell the annuity for more than the cash value because the buyer wants to make a profit, and has to accept some risk if they want a better return than the lottery accepts.

SoCola

Selling the annuity would only screw you over. It definitely would not be in your favor.

Its always better to take the cash, unless you just have 0 self control, for 2 reasons. You can put the cash in a very conservative investment like a mix of treasury bills and index funds for an average roi of about 5% per year and put it to work through compound interest. 2nd reason is you have no guarantee of future tax rates and they are far more likely to be higher than they are to be lower.

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