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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

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

Father buys winning $1 million lottery ticket while wife waits in hospital with newbornReply
Oh and the best part about this story, unlike in the free and great USA, he's getting the exact amount. No taxes and no falsely advertised prize. What he won is what he gets, as it should be and is in pretty much every country on earth.
Feb 1, 2024, 11:02 am - thaencyder - Lottery News

Washington, D.C. woman wins $2 million Powerball prize from lottery ticket gifted to her by husbandReply
Wow. You are greedy. $2 million even before taxes is life changing for people. If it isn't, they didn't need the money anyway.
Jan 10, 2024, 5:53 am - Artist77 - Lottery News

One Michigan lottery ticket wins $842.4 million Powerball jackpotReply
Blame the public. The United States is the only nation on earth that taxes lottery winners and lets Lotteries advertise a false amount of prize (loophole being lump sum cash vs amount) but people are sooo convinced they live in the greatest free country in the universe they can't even see when they are being screwed.
Jan 4, 2024, 10:01 pm - thaencyder - Lottery News

Spain's El Gordo dishes out €2.6 billion in annual Christmas lotteryReply
I like the x200 top prize amount. What's the payout percentage? The State of Spain wins from the taxes, even with 100% payout.
Dec 23, 2023, 8:18 pm - Wavepack - Lottery News

Maryland man wins $57,777 after dreaming of father gifting him a lottery ticketReply
So after taxes he got about 39,000.00. Ok, not bad but not life changing for sure. Prizes for this 5.00 scratch ticket seem a little low to me. Wonder how many they distributed. Don't quite get the #7 reference though as being very significant. He has been playing these for years so he is at least even now.
Dec 12, 2023, 1:41 pm - billybucks - Lottery News

Texas Lottery pays out largest jackpot in state history with $360 million Mega Millions claimReply
Yup. Generations trusts, privacy, low yearly maintenance fees, etc... The winner(s) might also be from out of state. Having the trust in SD also means that they avoid yearly state level taxes on any money the trust earns. They will have to pay when they take a payout.
Nov 17, 2023, 9:48 am - SCnational - Lottery News

Single mother who won $6 million in lottery opens up about the good and bad of winning millionsReply
Castro won over $600 million after taxes and she got about $2 million. The article doesn't mention her net worth seven years later, but she is probably living off her investments.
Oct 31, 2023, 2:57 pm - Stack47 - Lottery News

Editorial: Study of lottery winners still receiving food stamps is flawed but raises good pointsNews Story
Independent group finds that more than 65,000 lottery winners stayed on food stamps after their wins By Kate Northrop An independent group surveyed government data and found that over 65,000 individuals who won significant lottery prizes have continued collecting food stamps. A think tank called the Foundation for Government Accountability (FGA) submitted Freedom of Information Act requests to all 50 U.S. states for data on lottery winners collecting food stamps since 2019 and found
Oct 23, 2023, 6:01 pm - Todd - Lottery News