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Giving away PB/MM TicketsReply
You made no mention of federal tax. I said I know the taxes are taken out but I was going to an extreme to make a point. You playing for someone else implies at least some kind of partnership or sharing the wealth, however the way you're describing it is one and only one of the partners pays the tax. Read savagegoose's post, you would setiously be better offc playing the same numbers on both tickets.
Dec 25, 2011, 3:33 pm - Coin Toss - Lottery Discussion Forum

But I don't want an injection to collect my Powerball!! arrrgh!Reply
Yeah this is a line of crap or your are VERY gullible, maybe both. Have you ever me this idiot? Sounds to me like some type of Nigerian scam hiding under the guise of a lottery partnership. He is probably actually in Africa already. Sounds like he needs a lethal injection... My advice? Don't ever pool with anyone far away, or anyone period for that matter. It just isn't worth the risk of a once in a lifetime jackpot. Bite the bullet yourself, you will be glad you did when you win big. Being c
Sep 22, 2008, 6:52 am - sirbrad - Lottery Discussion Forum

If you won powerball or megamillionReply
I've already signed and had an affidavit notarized gifting a share of 30% of any MM ticket I purchase in the next year to my large extended family, with most individuals owning a set share of one or two percent. So should I win the jackpot, my relatives would also be considered winners, and they would pay income taxes out of their amount and I wouldn't have to pay gift taxes, since it would be the partnership that won. Even one percent of the present jackpot would be more than half a million dol
Jul 14, 2008, 4:29 pm - Uff Da! - Lottery Discussion Forum

Why is it beneficial to collect a lottery jackpot as a LLC?Reply
I've been looking around on the Texas site (my state) and here is what it says in the FAQ section. ~~~~~~~~~~~~~~~~~~~~~~~~~ If I join with a group of players, can more than one person claim a prize on the same ticket? No. The Texas Lottery Commission will pay only one claimant per ticket. A claimant can be an individual, a trust, a partnership, a corporation, or any other legal entity. ~~~~~~~~~~~~~~~~~~~~~~~~~~ What this does not say is if the legal entity is subjected to m
May 19, 2008, 12:06 pm - pigsNtrees - Lottery Discussion Forum

David kills Goliath in Michigan will keep promise to friends!Reply
Okay. It was the way you stated it. I just don't see the lottery doing this. I can see a lawyer creating an agreement that will take care of the distribution of money, but not the way you stated. I'm not a lawyer, but I know of no cases in FL where that has happened. If you say you know they do, so be it. No argument from me. If I were a lottery expert, I'd be very rich! Edit: I still think the IRS would question the arrangement if it was a last minute thought. The news article we are talkin
Apr 3, 2008, 7:29 pm - justxploring - Lottery Discussion Forum

Claiming as a trust or partnershipReply
Good question, Justxploring!! I would think you'd have to be a resident of at least the cpunty you form the trust in, but then again, with multiple people they wouldn't all have to be, would they? Wouldn't it be bdetter not to use a family name or name at all, something more like Numbers Galore Trust instead of DiLucia Family Partnership? Makes me wonder what would happen if a group of people formed a corporation in Nevada or Delaware and the coprporation hit a jackpot.
Jan 31, 2008, 6:30 pm - Coin Toss - Lottery Discussion Forum

Question on PoolsReply
Can a group of people share a prize? Yes, lottery prizes can be shared. Winners can decide how to share the prize before they claim it. However, the TEL will only issue one check for any prize won. The check can be issued to an individual, corporation, organization, partnership, trust or estate. Any non-individual claim must provide documentation of authority to the TEL before the prize is paid. The TEL will accept Internal Revenue Service (IRS) Form 5754 if a group of individuals are claimi
Dec 12, 2007, 8:23 pm - tntea - Lottery Discussion Forum

Question on PoolsReply
I think you had better find out before you win and someone has to sign the back of the ticket and be responsible for the taxes. I think it varies from state to state where some have a form for pools and handle it may be writing a check to each member while other state's want to know if anyone paid more then ticket price and call it scalping if you charged more then what you paid for the tickets. If your state site index doesn't include pool information send them an email and ask, you might
Dec 11, 2007, 10:08 pm - BobP - Lottery Discussion Forum

would you play in a jackpot poolReply
My question is WHY? The same goes for those who say they won't play if the jackpot is less than say $50 million AND they could afford to play every draw. There have been times in the past where I purchased $50 worth of QPs for a then record Big Game drawing only to win a few bucks. That result would not have been any different had I purchased those QPs as a part of a lottery pool. For those who are on a tight budget, playing in a pool of say 10 or 20 people is probably attractive in that t
Apr 11, 2007, 12:30 pm - OldSchoolPa - Lottery Discussion Forum

Big Odds Vs. the LOttery:Happened to you before?Reply
Maybe, just maybe, you really don't believe the odds of you seeing a celebrity are against you...so you saw one.Maybe the thought of your past crush didn't seem so far away from a dream come true, and so it happened. I believe you set up the life you want to live....I say eliminate that thought of not possibly winning the lottery and it will surely come to you if you believe it will happen first. Think about this, there are many different ways to make tons of money. The lottery isn't the on
Aug 13, 2006, 4:09 pm - TheTruth - Lottery Discussion Forum