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You just won a huge lottery jackpot! Now what?Reply
Billy, 2 things happened there. First and foremost, they kept quiet and second, they contacted an attorney who drew up the Trust paperwork for them. If you check the Tennessee Lottery website's FAQ, there is a subsection that is in purple that has I WON, NOW WHAT , click on that and the 3rd question down says, Can a group of people share a prize? .... Yes, Lottery prizes can be shared It further states in that paragraph, The check can be issued to an individual, corporation, organization, par
Oct 23, 2018, 7:28 am - CDanaT - Lottery News

$900 MILLION: Mega Millions lottery jackpot raised just hours after initial estimateReply
I didn't want to write something incorrect so I just used Google real quick to find this The problem is that in most cases, the IRS knows that it s baloney. While it s certainly possible to have agreements among family members (or friends, or co-workers) to enter into a lottery pool, the IRS will not look to kindly on post winning shams. If audited, they will ask for the partnership agreement that existed prior to ticket buying. They will ask when the family members contributed the money. T
Oct 18, 2018, 10:23 am - paymentplan-man - Lottery News

$478 MILLION: Powerball jackpot surges into top 10Reply
A Californian would keep $200 million after taxes. If you lived on a budget you could make this last for your lifetime. You will need an Asset Protection plan. Which will include an Irrevocable Life Insurance trust- ILIT. Other types of Trusts. Umbrella Insurance. LLC, FLP, FLP stands for Family Limited Partnership. It would be interesting to invest a portion and watch it grow and bring in profits. I will research Executive Protection Firm. Security will be needed. Thank You, Todd,
Jul 28, 2016, 10:29 am - music* - Lottery News

$361 MILLION: Powerball rolls againReply
I have eight draws left on my advance play ticket. I am in it to win it. I am playing Quick Picks from the RNG here at Lottery Post. Thank You, Todd, for the Top 25 lists. They bring back memories of past winners. I hope that every LP member is prepared to win $151 million. A few will take the Annuity. Getting my team together will take some time before I cash in. Legal, Financial, and a couple of other ducks to be lined up. Instead of an LLC I may choose an FLP which is a Family
Jul 18, 2016, 2:37 am - music* - Lottery News

Virginia Lottery turns over more than a half-billion dollars to educationNews Story
For just the second time in its history, the Virginia Lottery has delivered more than a half-billion dollars to Virginia's K-12 public schools in a single fiscal year. The Lottery announced today that profits for the 2015 fiscal year totaled nearly $534 million. It wasn't just education in the Commonwealth that benefited. Players raked in a record $1.1 billion in prizes during the year, and retailers selling Virginia Lottery tickets earned nearly $104 million in commissions a record. Many of
Aug 19, 2015, 9:05 am - Todd - Lottery News

$550 MILLION: Mega Millions holiday bonanza!Reply
Doing this will land you in court or jail. You cannot give your family money to start a business outside of the gift allowance unless either you have a partnership in the business or you charge them interest. And interest can't be a ridiculously low number either, it has to be at current permissable rates otherwise it's deemed as a gift and counts towards your lifetime exclusion or the yearly $14,000 per person. You cannot hire a family member into your business and pay them an inflated sala
Dec 16, 2013, 6:30 pm - Teddi - Lottery News

Ireland National Lottery to be sold for €405MReply
It does not indicate that anything specifically will change. It's just about which company owns the right to operate the lottery for the next number of years. Just like the talk about privitization in the USA. It's not about somehow changing the lottery into something different; it's about whether the government itself or a private company will operate the lottery. When the government sells the lottery, it is offering the license to operate the lottery for a certain number years. Normally
Oct 3, 2013, 5:14 pm - Todd - Lottery News

Maryland Lottery teams up with Super Bowl champsNews Story
The Maryland Lottery and Gaming Control Agency (MLGCA) and the Baltimore Ravens have joined forces for the fifth year in a row. The Board of Public Works yesterday approved the contract, which will include the Ravens Champions $2 scratch-off ticket. The contract gives the Lottery the rights to use the Ravens logo, marks and experiential prizes. As in previous years, Lottery players will have the chance to win cash and experiential Ravens' prizes through the scratch-off and other Ravens-themed
May 30, 2013, 7:30 am - Todd - Lottery News

DC lottery contract is the subject of a federal probe with numerous officials under scrutinyNews Story
A federal grand jury is investigating the awarding of the $38 million contract to run the District of Columbia lottery, a process that raises further questions about corruption in a city government already beleaguered by criminal prosecutions. Although no one has yet been charged in the lottery probe, authorities are looking for evidence of crimes including bribery and illegal steering of contracts, and numerous officials are under scrutiny, according to several people familiar with the probe
Dec 12, 2012, 9:01 am - Todd - Lottery News

Mass. Lottery knew about exploited game's flaws for years, IG saysNews Story
Massachusetts State Lottery officials knew for years that a small group of gambling syndicates had virtually taken over a game called Cash WinFall winning most of the prizes during high payoff periods but did nothing about it until the local media began investigating, according to state Inspector General Gregory W. Sullivan. Sullivan's report details the way a handful of math and science wizards, including Massachusetts Institute of Technology undergraduates looking for an interesting school
Jul 31, 2012, 8:43 am - Todd - Lottery News