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New knees for North Carolina $150,000 Powerball winnerReply
Did she have to pay taxes or did she get the full $150,000? ( 122,991)
Jan 16, 2023, 4:31 pm - Clarkejoseph49 - Lottery News

$1.5 billion Mega Millions winner explains how "Lottery Lawyer" Jason Kurland stole $83 millionReply
So after taxes and $$ to charity, what's left? Is there enough to continue paying 10 family members $125 kyr
Aug 16, 2022, 11:35 pm - EnReval - Lottery News

$790 MILLION: Fourth-largest lottery jackpot in history to be drawn TuesdayReply
Ohhhhhh,pay taxes($171.8M roughly)....Family and friends will take 35%, keep $65M, Charities get $65-75M and the rest will go towards starting a non profit......The end
Jul 24, 2022, 11:19 am - CDanaT - Lottery News

$1.76 billion Powerball jackpot won by one ticket sold in CaliforniaReply
I always buy one regardless of the amount - I sort of like the gradual addition as the jackpot increases. So is the one extra ticket added per every 100M based on the take home amount, or the jackpot estimate? For example the last jackpot was 1.7B, so if you buy an extra ticket for every 100M, you'd need to buy 17 tickets the last draw. But if it's based on the take home amount after taxes, then that would have been 4 tickets for the last draw. I would be comfortable adding for every
Oct 13, 2023, 11:50 am - JustMaybe - Lottery News

$910 MILLION: Mega Millions lottery jackpot making another historic runReply
This is indeed interesting. My understanding has been that tax is based on residence especially for the annuity after the first payment. I have read widely on Taxes and have wanted to know what are the best tax strategies. Unless the CPAs and CFAs are totally wrong, I don't know who to believe. Below is an extract and a link to some articles from Tax Advisors. @KY Floyd: let me know what your thoughts are after reading the below and the article. From a state tax perspective, an
Jul 28, 2023, 8:45 am - JustMaybe - Lottery News

165 Belgians in one town share €143 million EuroMillions jackpotReply
This story reminded me of the Movie Waking Ted Devine , if you haven't seen it you are missing out. It is Funny!! Tax Free winnings!! I think I heard angels singing when I read that. Now you wanna be totally disgusted? If you win Powerball in the States you can be charged up to 37% in taxes and that is just federally. that is even before your state get their share. if you live in one of those that taxes Lottery as well. And we let them do this to us? WHY? The recent winner o
Dec 23, 2022, 12:59 pm - Dead_Aim - Lottery News

$1 BILLION: Historic Powerball jackpot draw set for MondayReply
Imagine if the same thing happened in Powerball for the Billion $$ jackpot. Those 52 winner in NY represent roughly 1 of every 10,000 tickets for that drawing. To reach an even billion will require selling about 130 million tickets, so if 1 of every 10,000 used the numbers from the previous drawing we'd have about 13,000 winners. They'd each get about $38,253 before taxes. I wonder how many would quit their jobs before finding out they need a job to pay the bills? The cash you will get
Oct 30, 2022, 11:16 pm - KY Floyd - Lottery News

Major claim deadline approaching for Illinois lottery winner of $1.337 billion Mega Millions jackpotReply
Interesting options this winner(s) has: 1. Complete anonymity 2. Cash Lump Sum Always the best (imho) 3. Annuity https://www.usamega.com/mega-millions/jackpot/annuity/il/2022/7/29 Starting with the 1st payment of $11.71 Million AFTER state and fed taxes are paid , then going up. Payment # 15 would be $23.16 Million take home (provided taxes stayed at the same rate). The final take home payment of $48.12 Million ( If taxes stay the same in 29 years). Lots to ponder for this
Sep 12, 2022, 11:42 am - CDanaT - Lottery News

North Carolina 18-year-old wins $1 million in lottery after asking sister to buy ticket for himReply
What does that last paragraph mean? You don't pay taxes on lottery wins of $600. AFTER $600 you do pay taxes. OTOH, though not sure where this going (with the mess of our so called leaders in DC) the casino lobbyists want to increase the taxable amount from $1200 to $5000 to, as they say, adjust for inflation. I have yet to find any lottery lobbyists out there, if they exist that is.
May 27, 2024, 7:42 am - Bleudog101 - Lottery News

Illinois man celebrates Valentine's Day with $1 million lottery win three days after breakupReply
So HE wins a MILLION but only gets $600,000 before TAXES, I don't consider that A MILLION, I call that a JOKE. $300,000 after taxes is a tidy sum but it is NOT A MILLION but the State Lottery and the News will say he won a million but he didn't so everyone will believe he won a million. I think it sucks to win a big prize like that and then you have to choose either be tied to the tax man for 20 years or accept half as a consolation prize instead. The State of Illusions
Feb 14, 2024, 6:35 pm - Onelast8 - Lottery News