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cashing large winning lottery ticketsReply
You do not need a financial planner or an accountant for a 15 k win. You can use tax software that will calculate what you owe. You may need to make an estimated tax payment for additional taxes you might owe.
Jan 20, 2023, 4:11 pm - Artist77 - Lottery Discussion Forum

cashing large winning lottery ticketsReply
Ive won big on the p4. Cash in and claim on taxes. They give you the forms at the lottery office. You dont need a lawyer ,planner unless it over 6 figures.
Jan 20, 2023, 11:49 am - lakerben - Lottery Discussion Forum

State taxes - my experienceReply
Moving to another state wouldn't prevent the state you reside in from pursuing taxes if the winning state has 0 tax unless the winning state required you to choose lump sum/annuity at the time you purchase the ticket because of constructive receipt. Meaning you were entitled to the money while living in that state regardless of when you claimed it.
Jan 17, 2023, 5:30 am - SoCola - Lottery Discussion Forum

$1.35 BILLION: Mega Millions jackpot set to deliver unimaginable wealthReply
Well billybucks judging by your post, you don't have much of an imagination or a giving spirit. It is not really about one person winning the entire 1.3 billion because he/she will not be getting that anyway after taxes. Most people want that kind of money for themselves and to help family, friends and community. There is indeed more need than ever before these day.
Jan 13, 2023, 9:09 am - winterhug - Lottery News

There doesn't seem to be a huge frenzy for the 1.1 Billion Megamillions prize. :/Reply
I just saw that literally about a minute ago on The Lottery Website! :D Wow! 1.3 Billion before taxes! :D This is on track to being the highest Megamillions Jackpot of all time! :D I'm going to play MM, with a 13 as the Megaball in honor of it being Friday the 13th tomorrow! :D
Jan 11, 2023, 4:17 am - Lotto fanatic - Lottery Discussion Forum

There doesn't seem to be a huge frenzy for the 1.1 Billion Megamillions prize. :/Reply
I'd personally rather have roughly 300 Million rather than just 20 Million. ;) Assuming it's a split between three different people like the 2016 Powerball was. 1.1 billion before taxes would be ideal to me as a sole winner. ;)
Jan 10, 2023, 11:54 am - Lotto fanatic - Lottery Discussion Forum

Two winning $1 million Mega Millions tickets sold in Texas set to expire in a monthReply
No, I doubt the two ticket buyers are getting their duck in a row before claiming the prize. Their prize is one million dollars each, which will be less after taxes. There is no need to get any ducks in a row. The tickets were purchased back in July, that far back, the tickets most likely have been thrown away or misplaced.
Dec 16, 2022, 6:40 am - winterhug - Lottery News

Massachusetts father and son found guilty of fraud after cashing in $20M worth of lottery ticketsReply
They are being charged with a tax evasion scheme, The collection of taxes on winnings is a scheme. You should be allowed to cash other people's tickets, as long as you don't claim the income as a loss. Because of the law that winnings over a certain amount is taxable, any effort to circumvent this rule is a crime. And Donald Trump doesn't have to submit tax forms.
Dec 14, 2022, 9:12 am - Tony Numbers - Lottery News

Florida Fantasy-5 PlayersReply
Here's what's wrong with playing JPT when the jackpot is low..... A guy in North Fort Myers won a $300,000 jackpot playing JPT on December 2nd. OK great! Congrats to him and I know he's very happy to have won. BUT!! While the advertised jackpot was $300,000, he took the Cash Option, and therefore he received $195,802. Although I'm not sure about this, that amount is probably BEFORE TAXES! If I'm correct, he took home probably about half the advertised jackpot. $195,800 before taxes is wh
Dec 7, 2022, 9:00 am - GiveFive - Pick 5 Forum

Americans gamble over half a trillion dollars illegally each year, AGA Report saysReply
Mind you, this was 20+ years ago. I worked for an OTB. We checked with lawyers and Federal people, and placing a bet outside the US was very legit. We couldn't take any bets inside the United States. I feel they are lying because they don't get tax revenue from this. Unless laws have changed, which I doubt, betting off US soil is not illegal. Just because of the I.R.S. not getting their taxes does not make it illegal.
Dec 6, 2022, 5:19 am - Holloway1969 - Lottery News