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Two Wisconsin friends split $22 million Powerball jackpot after a deal made 28 years agoReply
The IRS, it reads lump sum before taxes
Jul 25, 2020, 1:48 pm - Kishapeach70 - Lottery News

WI Badger 5 - 4/28/20Reply
After taxes splitting 4 ways does not leave a whole lot.
May 31, 2020, 12:33 am - Unlucky-Kenny - Jackpot Games Forum

New Zealand man who lost his job during lockdown wins $10 million Lotto jackpotReply
Every time someone or some article mentions anonymous winner we get to read about countries with national lotteries that are tax free. I guess it's really difficult for them to understand the U.S. has no national lottery and why Federal taxes are deducted. Even after many posts explaining that. The only thing relevant not paying taxes is some states have no state taxes and some with a state tax don't tax lottery winnings. We'll cross the no Federal taxes on lottery winnings if we ever get a N
May 25, 2020, 9:20 pm - Stack47 - Lottery News

Mover who plays the lottery in every state finally hits the jackpot in North CarolinaReply
He's gonna have to pay NC and NY taxes...lol
Nov 27, 2019, 3:41 pm - sdw1000 - Lottery News

Growing number of states move to shield lottery winnersReply
Taxes (Federal) are withheld after $1199.00.
Apr 14, 2019, 3:36 pm - Bleudog101 - Lottery News

$750 MILLION: Powerball lottery jackpot surges to 4th-largest everReply
You are a much more patient than I would be maximumfun... Letting the state where you purchased your ticket dictate what your payment would be over 29 more years and taking a chance on what the federal tax rate maybe in 10/15/20/25 years. Especially if it is controlled by 1 of the political groups who just love increasing taxes. As we all know, money doubles based on rule 72. So,take the $465.5 with 37% taxes right now or gamble on taxes going lower/higher in 2030 or 2040 ?? Don't Forget about t
Mar 26, 2019, 9:10 am - CDanaT - Lottery News

No sales tax on Mississippi lottery tickets, but winnings will still be taxedReply
Federal Taxes are on lottery winnings over $600 in every state. Winners are issued a W-2G, taxes are not deducted, and state taxes if any are from the individual state tax form.
Mar 3, 2019, 8:42 pm - Stack47 - Lottery News

Can one spouse take lump while the other takes an annuity?Reply
You don't pay taxes on the original investment, but pay on any capital gains (profits). A lottery annuity is different because taxes were never paid on the winnings so taxes are paid on the total amount of each installment. Pensions, IRAs, 401Ks, etc. are forms of annuities where taxes are deferred. IMO, the only real advantage of annuities is they are low risk, but usually with low risk comes low returns.
Feb 2, 2019, 2:37 pm - Stack47 - Lottery Discussion Forum

Brooklyn truck driver quits job, comes forward as $298M Powerball winnerReply
H e received $114 mil after taxes withheld, but will still owe more taxes come April 15, 2020.
Jan 25, 2019, 11:36 pm - TheMeatman2005 - Lottery News

New York Dream Team 12/01/18 - 12/31/18Reply
Geee.... Taxes suck
Dec 12, 2018, 10:22 am - UniverseNumbers - Pick 3 Forum