When you win the jackpot....

Reply #7

goose — Mon, 08 Mar 2004 20:23:08 GMT

I dont think anyone will share his money with us after winning

Reply #6

four4me — Mon, 08 Mar 2004 05:45:41 GMT

Banks deal with currency all the time they can convert you cashed check into any type money you want they will automatically transfer as much money as you wish into as many bank accounts as you would like to have. They will be more than glad to have you as a customer. The manager will assist you in every aspect of your transition. When you pick up your check have your limo driver take you to the nearest international bank and do whatever you want with your winnings. They have all the necessary p... [ More ]

Reply #5

twisted — Mon, 08 Mar 2004 04:27:37 GMT

Usually there is a charge for wire transfers; usually a percentage of the money transfered. If you win big that little percentage all of a sudden seems big.

Reply #4

rundown99 — Mon, 08 Mar 2004 03:21:20 GMT

Can't you get the money wired into your account by direct deposit. I read somewhere that these days, the money can be wired into your account. I would hate to lose a check in the mail.

Reply #3

hypersoniq — Mon, 08 Mar 2004 02:54:24 GMT

I imagine it would go something like that... maybe anywhere from 4 to 10 weeks to validate the ticket, and you may get hit also with local and state taxes from where the ticket was purchased, but I think that's how it would go.

Reply #2

michiganplayer — Mon, 08 Mar 2004 02:13:52 GMT

thanks for the reply hyper. I am a foreigner, so I get a flat 30% taken out. So does that mean that if the cash option is US$100 million, they will give me a check for US$70 million on the dot

Reply #1

hypersoniq — Sat, 06 Mar 2004 23:05:50 GMT

Based on the FAQ for the Powerball, they withhold 27% for taxes... you are responsible for 35%, so you will have to pay the rest using an estimated tax form within that tax year.It varies by state, in PA their FAQ states that a jackpot win can take 6 to 8 weeks to verify. I can't imagine anything quicker from other member states.

When you win the jackpot....

michiganplayer — Sat, 06 Mar 2004 22:58:30 GMT

When you win the jackpot, the check that the lottery guy gives, does it already have the 25% tax already taken out?Assuming I have won a cash lump sum of $100 million, will they then give me a check of $75 million or will they give me $100 million and it is up to me to declare to the tax department?Also, how fast do they make the payment. Let's say I have just won, and the next morning, I go to claim my prize. Do they immediately give me a check once the ticket is verified? Or do they take a few... [ More ]