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Ruling taxes lottery winner at higher rateNews Story
An Oregon Lottery jackpot winner is going to have to pay a higher tax rate after a federal appeals court rejected his argument the prize money should be taxed like an investment at the lower capital gains rate.J. Michael Maginnis won a record $23 million jackpot in July 1991 that he divided among himself, his wife and their three sons.Maginnis chose to receive his $9 million share in 20 annual installments, a typical payment schedule at the time for state lotteries, which purchase an annuity for
Feb 4, 2004, 5:33 am - Lottery News

Colorado Lottery contracts not renewedNews Story
The Colorado Department of Revenue will not extend two key Colorado Lottery contracts, choosing instead to seek new bids for advertising and public relations services.The move comes in the midst of a criminal probe into the timing of gifts given to top Lottery officials by vendors doing business with the agency and as Department of Revenue Executive Director M. Michael Cooke reviews all of the Lottery's contracts to make sure they were crafted fairly. It's a perfect time for us to look at these
Feb 4, 2004, 5:26 am - Lottery News

Mystery person claims $70 million Texas Lotto prizeNews Story
The Texas Lotto ticketholder who apparently won the $70 million jackpot over the Super Bowl weekend laid claim to the prize Monday, the state lottery commission reported. We did get a visit from somebody who said they have the winning ticket, and the ticket has passed our first stage of review, which is called the initial inquiry, said Karen Kalergis, an agency spokeswoman.The winner has 180 days from the date of the drawing to claim the jackpot. The ticket was purchased at the Corner Stop, 115
Feb 3, 2004, 5:31 am - Lottery News

Colorado lottery official retires amid controversyNews Story
Turner leaves post after questions about his conductA week after facing questions about whether he had offered immunity from prosecution to three gambling regulators who worked under him, a senior state Department of Revenue official abruptly retired.George Turner, one of the most powerful bureaucrats at the department, who for years oversaw the state's lottery and casino industry, had been on paid administrative leave since Jan. 6 while officials investigated.He gave his notice to retire from h
Jan 31, 2004, 6:37 pm - Lottery News

You want the other Jack; he's got the millionsNews Story
The other Jack Whittaker of West Virginia -- the one who wasn't arrested on drunken driving charges last weekend, whose money wasn't stolen outside a strip club and who definitely didn't win $113 million -- wishes the Jack Whittaker of lottery fame would behave.Not that Jack Whittaker of Princeton, W.Va., is one to pass judgment on anyone's personal life.It's just that every time the other Jack Whittaker gets into one of those embarrassing legal scrapes, the non-famous Jack Whittaker gets hit wi
Jan 30, 2004, 6:54 am - Lottery News

Nimitz Sailor wins $6.5 million in California lottoNews Story
There was a time when Aviation Ordnanceman Airman Don Burdette and his family struggled from paycheck to paycheck in order to pay their bills. Now, those struggles are gone.Burdette, a 23-year-old Sailor aboard San Diego-based aircraft carrier USS Nimitz (CVN 68), won the California Lottery Jan. 14 and split a $13 million dollar jackpot with one other Californian. We both decided to take the lump sum up front instead of in payments, said Burdette. After splitting the money and taxes were deduc
Jan 30, 2004, 6:51 am - Lottery News

Audit finds misuse of Colorado Lottery fundNews Story
Legislation, rule changes seek tighter tracking of spendingColorado state leaders Tuesday unveiled plans to curb substantial problems uncovered by a newly released audit of Colorado's conservation trust fund, a multimillion-dollar pot of lottery profits that is supposed to pay for parks and recreation.A state audit released Tuesday found that more than $1.2 million of the fund's expenditures in 2002 were spent by local governments in ways the state does not allow.The audit also criticized 10 c
Jan 28, 2004, 9:20 am - Lottery News

4 women split $7M New York Lotto jackpotNews Story
Winning ticket, 2nd sold on Island in 10 weeks, purchased in Graniteville deliA dollar, a dream, and a ticket from a Richmond Avenue deli.In the past 10 weeks, Staten Island has produced a pair of lottery jackpot tickets worth a combined $24 million, and they've come from delis on the same street, separated by a few blocks.In November, a couple from Bulls Head won $17 million from a $5 Quick Pick ticket at A S Salumeria and Catering at 1720 Richmond Ave. in Bulls Head, walking away with a lump-s
Jan 27, 2004, 9:35 am - Lottery News

Muskegon resident wins Michigan Lottery's '$2,000,000 Fortune'News Story
William Schad of Muskegon now knows what it's like to feel like a million bucks actually, in his case, two million bucks! He became the Michigan Lottery's newest millionaire on Friday, January 16, 2004 while participating in a mid-court drawing at halftime during the Detroit Pistons vs. Washington Wizards NBA basketball game. No kidding! said Schad, upon learning he had been chosen as one of the five finalists for the Michigan Lottery's $2,000,000 Fortune grand-prize drawing. Holy moley! I
Jan 26, 2004, 7:24 am - Lottery News

Easley continues quest for N.C. lotteryNews Story
Entering the last year of his first term, Gov. Mike Easley is looking back on a busy year and preparing for his upcoming re-election campaign.After consecutive years of budget shortfalls, this year's budget seems to be on target. He fulfilled campaign promises to lower class sizes in the early elementary grades. But getting the General Assembly to approve a statewide lottery still eludes him.Easley sailed through national disasters such as Hurricane Isabel and survived man-made storms, such as t
Jan 26, 2004, 6:57 am - Lottery News