Search

Post Your Winning Tickets HereReply
If you took it over 25 years they would pay off $40,000 a year, which would give you the $1,000,000 gross prize, net taxes the payments would have been about $30,200. I took lump sum, so they give you $820,000 gross and then you get taxed at 37%. Add another 5% for Alabama :( There was another person at Tallahassee with me on Monday. He lives in Florida where he should net $516,000, whereas I live in Alabama and will pay another $41,000 in taxes giving me a net win of $475,600. Still not b
Aug 4, 2022, 12:13 am - dromt - Lottery Discussion Forum

Why isn't there a choice to split the Lump sum and the Annuity?Reply
Obviously an option, but it's an inferior option. The lottery invests the entire untaxed cash value, but if you take the cash you'll only be able to invest what's left after you've paid taxes. Current cash/annuity values are a bit lower, but if we figured the cash value of the $50 million mentioned by the OP was 60% a split option directly from the lottery would give you $15 million cash (pre-tax, or about $7.5 to $10 million net) and a $25 million annuity. The DIY option would start as $30 m
Jul 1, 2022, 9:57 pm - KY Floyd - Lottery Discussion Forum

The ever increasingly inflated jackpot prizes for MM and PBReply
When interest rates were stable, the take home cash value after federal taxes was around 1/3 of the advertised jackpot. Setting aside the fact the United States is the only country that taxes lottery wins Never lived in Bulgaria so don't know if they tax gambling winnings or not, but in the U.S. lottery winnings are defined as gambling winnings and is defined as income. Winners get a W-2G for $600 or more if the amount is at least 300 times the wager (the payer has the option to reduce
Feb 27, 2023, 11:17 pm - Stack47 - Lottery Discussion Forum

Lottery state chart/anonymity and claimantsReply
Thank you Todd. A perfect answer. I had to check the calendar to confirm it was not April 1st. 1) Had Ms. KOE performed even 30 seconds of research, she could have easily determined that US states are not the same as US territories and vice versa and US territories are not a part of the USA. Territories are not states and not referred to as states but I learned that in 4th grade as apparently nearly 145,000 views of this summary confirm their understanding as well. https://www.masterc
Jun 14, 2022, 8:11 pm - Artist77 - Jackpot Games Forum

One New Jersey ticket is sole winner of $1.13 billion Mega Millions jackpotReply
Congrats to the winner. Even though New Jersey has some of the highest state taxes, at least they've passed a law guaranteeing anonymity. I think at the end of the day, I'd be ok handing over an extra 1%-2% playing in a state that doesn't force me to jump through hoops to conceal my identity. And who knows, maybe the winners tax payment will go into filling a couple potholes in New Jersey.
Mar 27, 2024, 12:29 pm - DDBagger519 - Lottery News

Accusations of "disturbing" new claims procedures after Allwyn sends investigator to winner's homeReply
$4000/yr on State lotteries! Take that and instead invest in bitcoin in a Roth IRA account for the last 10 years. The amount in the retirement account would be greater than almost all jackpots. And taxes on gains would already be accounted for, so no tax bite of 40% to 50% like with a State lotto jackpot win.
Mar 11, 2024, 11:23 pm - Wavepack - Lottery News

Kentucky man out of debt for the first time in his life, thanks to $150,000 lottery winReply
QUESTION : Is the $42,000 that he paid off the top, the Federal and State INCOME TAX on $150,000 , or is it possibly his overdue property taxes , or is it the amount of mortgage he paid off ? I am asking b/c a $42,000 chunk out of $150,000 is a lot of money loss.
Mar 6, 2024, 7:35 pm - destinycreation - Lottery News

Tennessee: 2/1 - 2/29/2024Reply
It don't mean anything here in tn. I guess , but I got 444 as a quick pick today . lol Nothing sure but death and taxes .. I still think 333 and 555 are coming sometime.
Feb 25, 2024, 11:57 am - larry888 - Pick 3 Forum

Maryland: 2/1 - 2/29/2024Reply
Thanks for all the push back you are giving them! I am not seeing alot of tickets with the promo, 1 maybe 2 everytime I play, at the most. When you think about it, I am sure someone at MDlottery got a bonus for coming up with this idea. Anything MDlottery can do to increase tax income for the state. I am really surprised we have not seen a flood of double/double triples in the pick 4 which both would trigger taxes if the promo was applied.
Feb 15, 2024, 5:14 am - DELotteryPlyr - Pick 4 Forum

Illinois man celebrates Valentine's Day with $1 million lottery win three days after breakupReply
Yes, that 40% bite before taxes kick in would have me not purchasing this ticket anytime soon or ever actually. He should end up with closer to 400k though. He should have take the 20 yearly checks and netted 34,500.00 a year.
Feb 14, 2024, 6:44 pm - billybucks - Lottery News