Ohio winner of $196M lottery jackpot claims prize anonymously

Comment #35

DC81 — Thu, 03 Jul 2008 01:00:36 GMT

I dunno about that, Ohio people seem to have gotten wisened up in claiming anonymously. I think the three winners in a row 12M, 267M/270M and 265M showed that when each of them claimed as a trust.

Comment #34

RJOh — Wed, 02 Jul 2008 17:13:11 GMT

Had you considered this may not have been the first lottery jackpot this person won and maybe he decided to handle it differently this time. After all, he didn't show the excitement normally shown by a first time winner and he seems to have had a plan in place to collect it without giving out his personal information.

Comment #33

time*treat — Mon, 30 Jun 2008 22:56:33 GMT

Didn't quite come forward...

Didn't take the cash option...

Only one strike left...

Comment #32

Piaceri — Mon, 30 Jun 2008 16:55:35 GMT

One thing you have to consider with the annuity is that what $1,127,096 is worth now, will not be the same in the future with inflation and the valuation of the dollar. Better to take it now so you can grow it for the future. Even if you just put it into t-bills, it will grow.

For example - The year I was born, my Father made $3,800 annual salary at his first full time job out of college. Eighteen years later, I made $3,800 working parttime at K-Mart. These days nearly 30 years later, I make

Comment #31

myturn — Mon, 30 Jun 2008 08:49:38 GMT

More and more lottery winners should seek anonymity, and eventually it will be seen as the norm, as it is in the UK and Australia.

I wish the winner well.

Good on him/her

Comment #30

DC81 — Mon, 30 Jun 2008 00:27:11 GMT

Eh, that's why I'd move as much as I could out of our dollar. Besides that, the commodities bubble is probably going to be around for good while longer and there's still probably a good investment there. We wouldn't be in the mess we're getting into if government did it's job 30 years ago and got its nose out of the private sector and other places where it didn't below ago and people didn't drag their feet. But alas, politicans are cheap to buy, especially in bulk.... [ More ]

Comment #29

mken32 — Mon, 30 Jun 2008 00:09:10 GMT

Claiming the jackpot anonymously was also very smart. and The way the markets are today, you may invest heavily and lose heavily. Also, the total economic picture is changing.

Comment #28

Littleoldlady — Sun, 29 Jun 2008 23:19:15 GMT

I think the person got very sound advice. The way the markets are today, you may invest heavily and lose heavily. Also, the total economic picture is changing. In 20 years, gas may be 100 dollars per gallon and a loaf of bread may be $50.00. That person wanted to ensure that they and their loved ones would survive. The way I look at taxes is like this: if you aren't paying any, you aren't making any money. It doesn't matter who you pay, Uncle Sam or State or both..also, that person will get to d... [ More ]

Comment #27

LottoAce — Sun, 29 Jun 2008 16:46:27 GMT

Smart to keep his name and face out of the front page.

Smart on taking it over the years?...depends.

Although he/she would make more money over a 25 year period by taking the lump sum and investing wisely, there are other things to consider...

one thing for example.

for someone who isn't comfortable with investing, a smaller steady income would allow for many finacial mistakes over the years without damaging ones net worth. (sometimes its better to leave some of your toys... [ More ]

Comment #26

KY Floyd — Sun, 29 Jun 2008 07:22:10 GMT

The top bracket for federal taxes is currently 35%. Add 6% for Ohio, and that's a total of 41%. Annual deductions and paying lower rates on some of the income will favor the annuity, but let's keep it simple and assume that's the rate for every dime of the income. That leaves 59% after taxes. On the $26 million lump sum you'd have $15.34 million now. With the annuity you'd collect $25.37 million. That sound slike 65% more money, but it would take 25 years to get it all. Having to wait to collect... [ More ]

Comment #25

KY Floyd — Sun, 29 Jun 2008 07:15:45 GMT

It sounds like you're one of the people who doesn't understand the tax implications.

The income comes from the state of Ohio, and Ohio gets to collect income tax on every dime of it (other than whatever exemptions you get). You can take it all now and pay all of the taxes now, or you can collect some each year and pay some of the total tax each year. Either way, the state gets to collect tax on all of it, but they only collect that tax once. Regardless of whether you take the lump sum or the... [ More ]

Comment #24

BaristaExpress — Sun, 29 Jun 2008 04:51:14 GMT

OMG, you have to be kidding... right? I guess it does take all kinds..... Capitol Gains Tax is just that... it's a tax on any gains you made on any investment! And it's better to be paying a 15% capitol gains tax vs a 35% income tax! Capitol gains tax is the tax you pay on the return you earn on your investment (like interest or gained value on a stock...etc).

But like I said before.... go ahead and wait and who knows what your tax rate will be 5,6, 10 years down the road into collecting thos... [ More ]

Comment #23

tg636 — Sun, 29 Jun 2008 04:05:54 GMT

I know people are curious and yes seeing who won is part of the fun, but I don't think it does you any good to get your face and name out there for public consumption. It is not going to give you a dollar more, not everyone is interested in the fame or notoriety, and going from a few thousand dollars in the bank to over $100 million is a big adjustment that would be easier made without having to fend out beggars, sob stories, investment advice etc.

I also think that in addition to not wanting... [ More ]

Comment #22

Stack47 — Sun, 29 Jun 2008 01:23:53 GMT

Ohio tax is 6% and that amount will be deducted from each of the 26 payments because that will always be Ohio income no matter where they live. Since the amount of the annuity is higher than the cash value, they will pay more in Ohio taxes on the annuity.

The article mentioned city tax and one city that did have an income tax wanted to collect taxes from a jackpot winner because the ticket was sold in their city even thought the winner didn't live there. The courts ruled the winnings or incom... [ More ]

Comment #21

GamerMom — Sun, 29 Jun 2008 01:09:36 GMT

Your net 1,127,096 for now until tax time...lol

but if you multiply that x 26=$29,304,496

your net from the lump is 17,940,000. So it does to pay to wait. If you invest the (lump sum) money, you will be still paying taxes on the interest, no

Comment #20

BaristaExpress — Sun, 29 Jun 2008 01:00:56 GMT

Annuity 43,000,000

26 payments 1,653,846

Fed 25% tax 413,462

sub total 1,240,384

Ohio state tax 113,288

Your net 1,127,096 for now until tax time...lol

Now remember you going to still owe another 10% on the original 1,653,846 to the IRS at the end of the year!

Now if you take what the IRS is going to get each year from your annuity check and multiply that by 26 your going to pay 10,750,012 in taxes on that annuity right off the top.... plus your still on the hook for another... [ More ]

Comment #19

BaristaExpress — Sun, 29 Jun 2008 00:27:06 GMT

I don't understand people and what they don't know about taxes...... You pay what % on your income? lets say 35% the top bracket...OK Each yr your going to be paying 35% income tax on your annuity plus the state tax for the state of Ohio...... OK now you take it as a lump sum and pay 35% + the Ohio income tax the ONE TIME! Do you get it now? I hope so...... Now lets say you invest wisely.... now you get to pay a 15% capitol gains tax on the investments instead of being taxed at the 35% rate on y... [ More ]

Comment #18

Stack47 — Sun, 29 Jun 2008 00:18:18 GMT

The next advertised Mega Millions jackpot is $43 million and the cash value is $25.9 million.

This (the $25.9 million cash value) represents the sum of the first annuity installment, plus the current market value of government securities required to fund the remaining 25 installments, as of 6/27/2008 at 10:45am

Simply put the advertised or estimated jackpot is the amount the winner will eventually get if they take the annuity jackpot and the cash value is the amount it costs to fund the

Comment #17

Lotto*Love — Sat, 28 Jun 2008 23:08:10 GMT

I have a question.and excuse me for being completely stupid on the subject seeing I've never won a jackpot (yet). lol..but what exactly is the benefits of taking an annuity? I guess I can look up on this ?, but I'm too damn lazy and someone here has to know... Do you get more of your winnings if you take the 26 years? Does that knock out the halfing it for lump sum choices? Taxing every year, and paying different as the taxes change, arn't you kinda scre# (% yourself? Is it more of a greed thing... [ More ]

Comment #16

GamerMom — Sat, 28 Jun 2008 23:06:19 GMT

i m confused...how do you pay more taxes when you have an annuity?? They will take the same amount of taxes out either way.

I'm sorry but I could live on 5 million a year after taxes, but that's just me; i'm not too greedy...

Comment #15

BaristaExpress — Sat, 28 Jun 2008 21:22:18 GMT

Also because this person is getting it as an annuity, they get to pay taxes to the state of Ohio for the life of the annuity! That was NOT a smart move at all!!!!

If it would have been taken as a lump sum payment paid to the blind trust the state of Ohio would only get it's state tax on the money only once! Nothing like supporting the state when you don't have too!!!! (If I was them) I'd fire the estate planner that talked them into that bad deal and then sue them for the bad advice... [ More ]

Comment #14

DC81 — Sat, 28 Jun 2008 18:00:14 GMT

I wouldn't even need strangers for that sort of thing, I've got a family full of crooks. At least with anonymity my name wouldn't be in the paper and spread over the internet for millions of people to see and read. I'd just want to keep the list of potential ******** to a minimum. But, as soon as things are set up and the claim is made, I'm gone soon after that. Though I'd probably wait a little longer just to make it less obvious since it'd probably be a little dumb to go through the trouble ju... [ More ]

Comment #13

AuntiePat — Sat, 28 Jun 2008 15:33:17 GMT

Anyone who remembers the younger couple (at least she was. . .maybe like 27) who won the $20M jackpot in the Canandian Lottery will also remember the story that appeared a few months after their win about some guy who hatched a plan to kidnap the family to extort their money and then kill them all so as not to be identified. . .or maybe we could remember Bud Post's brother who was attempting to hire a hit man to revenge what the brother thought was not enough of a gift. . .or the thousands of re... [ More ]

Comment #12

tntea — Sat, 28 Jun 2008 15:18:44 GMT

Congrats to the winners.

I dont think they waited too long. We would waited even longer to collect.

Comment #11

Earle Adderley — Sat, 28 Jun 2008 13:53:54 GMT

thats magnificants hope 2 join u as a winner soon.

Comment #10

Piaceri — Sat, 28 Jun 2008 11:37:05 GMT

Good for this person. I hope they stay smart and the money lasts for generations.

I don't agree though on the annuity. I'm with DC. It would have to be somewhere in the $300m range before I would consider the annuity, regardless of age. Then again, it may be right for this person.

Comment #9

sirbrad — Sat, 28 Jun 2008 09:52:13 GMT

Come forward you wuss. How do we know it was a legitimate win and not a lottery scam? Claiming it this way makes me determined to find out who it is, otherwise I would have forgotten the name by tomorrow. Claiming anonymously is not so great after all is it

Comment #8

DC81 — Sat, 28 Jun 2008 09:15:11 GMT

D'oh! Yeah, you're right, I wrote that after just waking up and wasn't fully awake yet, it should have read more along the lines of how the the area would be trying to cash in on it if that person stayed in the area, which then they would have to pay it.. As for the state taxes, of course in 26 years time they would pay less each year but the state could raise the tax and then they'd have to pay more, same with the federal, I doubt either will be lowering any time soon and wouldn't be surprised... [ More ]

Comment #7

KY Floyd — Sat, 28 Jun 2008 05:35:13 GMT

Ohio gets to collect income tax on all of it, whether they take it as a lump sum or annuity. It's just a question of whether they collect it all now or a bit each year. The village can enact any kind of tax they want. The income doesn't come from the village, so if the winner doesn't live there in the future they won't have to pay the tax.

Comment #6

DC81 — Sat, 28 Jun 2008 04:55:10 GMT

Figured that winner was going to claim anonymously but then they chose the annuity over the lump sum and good for them for doing it but I wonder why it took so long, maybe they did move in that time? But young or not, IMO it wasn't very wise taking annuity since now they're going to be paying taxes on it for the next 26 years and now the town wants a piece of it too. Even 1% is going to result a nice chunk of change for an area they probably won't even be living in anymore, not to mention having... [ More ]

Comment #5

ThatScaryChick — Sat, 28 Jun 2008 04:15:44 GMT

Congrats to them! I'm sure they made the best decision that fit their needs and lifestyle. Afterall, they are the ones who won.

Comment #4

Lotto*Love — Sat, 28 Jun 2008 03:11:27 GMT

Wow! Thats a long wait! I guess they choose what would be best for them. I can see the anonymous thing, but man,there goes my story reading.lol Hope they have a blast!!!! I would totally be booking a flight somewhere tropical right now

Comment #3

LckyLary — Sat, 28 Jun 2008 03:09:34 GMT

Yeah, 7.5 mil./yr. is hardly enough to buy a bag of rice and a can of corn these days. Aaaaaaaaagh!!!!! Why was it not ME!?!?!? When am I gonna win???????? Booooooooohoooooooo I never win!!!!!!!!

I always groan when it's in Ohio, the only time it was any fun was when the Battle situation occurred. I get kind of bored with these BlinD TrusT things. Might as well have said, the last jackpot was 196M, the next one will be 12M, not even bother to say anyone won... then it would be even more secre... [ More ]

Comment #2

Bradly_60 — Sat, 28 Jun 2008 02:52:44 GMT

That probably is smart.

But I don't think it was a smart idea to go with the annuity. You can easily beat the return on treasuries.

Brad

Comment #1

MaddMike51 — Sat, 28 Jun 2008 02:36:19 GMT

Congratulations to the lucky winner!!

Very intelligent person to claim the winnings in a blind trust.Must be a fairly young person,too,seeing as they chose the annuity.I think that all lotterys should allow the winners to claim prizes without giving the names to the press.

Ohio winner of $196M lottery jackpot claims prize anonymously

Lottery Post — Sat, 28 Jun 2008 02:21:02 GMT

The $196 million lottery prize for a Mega Millions ticket sold in the Clermont County village of Amelia in May was claimed Friday by a lawyer on behalf of an undisclosed client.

The ticket was submitted for The Anthony Trust, said a spokeswoman for the Ohio Lottery.

The name of the winner is known to Ohio officials, who will check for possible unpaid child support or unpaid state taxes, said Ohio Lottery spokeswoman Marie Kilbane.

An exception to the Ohio Public Records Act means state