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$1.55 BILLION: Biggest Mega Millions jackpot ever to be drawn TuesdayReply
One of the investors on The Shark Tank had a video on YouTube. He boasted that annuity is the way to go no questions about it. So if you take an annuity I thought you'd be in a high tax bracket year after year? Am curious about states like mine that will cut separate checks for a lotto club for instance---in store purchases only do they cut separate checks for 29 years? I seriously doubt it. If the mood hits me will send a PM to KLC on their FB page and ask the experts.
Aug 7, 2023, 8:03 am - Bleudog101 - Lottery News

$910 MILLION: Mega Millions lottery jackpot making another historic runReply
Well I just read that tax link and already noticed that it is wrong! It says that annuity payments don't stop if the winner dies which is, in fact, wrong for some games. It you win a Cash for Life prize the annuity payments will stop when the winner dies after a preset time! So the experts are not very thorough to say the least!
Jul 28, 2023, 1:01 pm - Think - Lottery News

This question might have been answeredReply
The federal tax rate on 1 million is 63%. (not taking any deductions into account) So in Texas (no state income tax) payout would be $630,000. For you your net payout depends on the state tax you live in plus fed tax. BTW, there is no annuity on MM or PB second prize, only the top jackpot, if annuity payout is chosen.
Jul 24, 2023, 3:24 pm - rcbbuckeye - Jackpot Games Forum

$900 MILLION: Powerball jackpot rises, but sales miss in last draw makes for small increaseReply
The PB worksheet on the TX lottery website still shows the initial forecast for sales of about $197.5 million (and an annuity of 875) for Saturday's drawing, but that was based on increasing from 750 to 875 million. The actual increase to just under 830 million suggests sales were actually about $126 million. The sales forecast for Wednesday is listed as just under $98 million, so the actual increase was a hair over 28%. That would suggest that Monday's jackpot would increase by about $103 m
Jul 17, 2023, 12:48 am - KY Floyd - Lottery News

$935 MILLION: Powerball lottery jackpot nears billion-dollar milestoneReply
I feel this pot going to climb into the top 3 Maybe, but it needs to almost double, to about 1.815 billion to be in the real top 3, based on the current cash:annuity ratio. It will reach a billion by Saturday for sure. That would require actual sales to be almost twice as much as the original forecast. Call me crazy, but I think that seems just a tiny bit unlikely. Considering the odds are even higher for mega millions than they are for Powerball ... The very high odds for
Mar 29, 2024, 4:48 pm - KY Floyd - Lottery News

$910 MILLION: Mega Millions lottery jackpot making another historic runReply
Disclaimer : The below is not tax advice and should not be construed as such. There are I think around 8 states that don't tax lottery winnings. However, one will still have to pay federal taxes which max out at 37% depending on the amount won and marital status. That and the fact that different states tax lottery winnings at different percentages makes it hard to have a one hat fits all approach to taxes on lottery winnings. However, this forum has done a good job of showing the tax
Jul 27, 2023, 12:30 pm - JustMaybe - Lottery News

North Carolina 18-year-old wins $1 million in lottery after asking sister to buy ticket for himReply
Such a nice looking family. I think they included grandma also. I think anyone below 30 should take the annuity.
May 26, 2024, 3:38 pm - Artist77 - Lottery News

North Carolina 18-year-old wins $1 million in lottery after asking sister to buy ticket for himReply
Finally. A lottery winner who takes the annuity, which is the best option. Way too many people take the lump sum, only to lose everything years later. I am glad that the winner decided to get paid over a 20 year period.
May 26, 2024, 12:06 pm - darthfury78 - Lottery News

North Carolina 18-year-old wins $1 million in lottery after asking sister to buy ticket for himReply
Congratulations to this young man in his win. People are always advised against taking the annuity, but it ensures he'll have an annual income for the next 19 years and won't blow it all right away. This also keeps the roaches from coming out of the woodwork.
May 26, 2024, 9:25 am - hlamb - Lottery News

North Carolina 18-year-old wins $1 million in lottery after asking sister to buy ticket for himReply
I love everything about this story. To me, this is the best of the lottery. Seems like a good kid with a good family, who all accompanied him to claim the prize. Love the family photo. No squabbling about who won the prize. Great choice on the annuity. Good choice on the Audi too!
May 26, 2024, 8:39 am - Todd - Lottery News