Officials with the New Jersey Lottery on Wednesday announced that a person purported to be a legal representative for the winner of a massive Mega Millions drawing has come forward.
Lottery officials released few details, but said they were trying to verify the ticket was authentic.
Lottery officials also announced that the jackpot, originally believed to be worth $250 million, was actually valued at $258 million since ticket sales before the drawing Friday were larger than expected.
Besides being New Jersey's largest single-ticket jackpot, it is also the fifth-largest prize in the history of Mega Millions, which is played in California, Georgia, Illinois, Maryland, Massachusetts, Michigan, New Jersey, New York, Ohio, Texas, Virginia and Washington.
hasn't even claimed the ticket and this person is already making money off of it....Go figure
Huh?
it went from 250 million to 258 million
He or she doesn't stop having good luck.
By the way, good luck everyone for tonight's powerball draw.
N.J. is a tax free state
Officials with the New Jersey Lottery on Wednesday announced that a person purported to be a legal representative for the winner of a massive Mega Millions drawing has come forward.
Can New Jersey lottery jackpot winners remain anonymous?
Guys, I got a question. If a person wins MM in one state but lives in another what taxes do they pay? (excluding tax-free states) I live in KY but buy tickets in Ill. Will I be taxed twice?
Officials with the New Jersey Lottery on Wednesday announced that a person purported to be a legal representative for the winner of a massive Mega Millions drawing has come forward.
Can New Jersey lottery jackpot winners remain anonymous?
NOPE. The actual person has to fill out the claim form and tax form. You do not, however, have to hold a press conference. That's why you have a lawyer negotiate things up front. Get it all checked out, the paperwork filled out, and sneak in, sign things, then get out of town. There was a winner, recently, don't remember where, who agreed to have a picture taken in the back office, then headed for the hills, The press showed after he was gone. Minimum pre-planning and every one could do the same thing.
Guys, I got a question. If a person wins MM in one state but lives in another what taxes do they pay? (excluding tax-free states) I live in KY but buy tickets in Ill. Will I be taxed twice?
You'll have to check the laws. On Todds site, Maryland has a tax on out of state winners. I would imagine, unless you're awfully lucky, state tax is always applicable to your residence. There was a winner from Nj who won PB in PA, a few months ago. The article stated they paid no gambling tax in either state. I buy tickets in NY and just assume they will get their share. They always do!
On the tax issue, if you bought in another state, you would normally pay an accumulated total of the highest of the two states.
For example, you live in State A, but buy in State B. State A has a 3% tax rate, State B has a 5% tax rate. You would normally pay 3% to State A and 2% to State B, for a total of 5% (the higher of the two rates).
If your state has a higher rate than the state you bought it in, you will probably only pay taxes in your state.
I wonder if Jorli D has experience/expertise in this area?
How does legal representation work? Hand over a jackpot ticket to another person in the name of anonymity?
MM and PB winning tickets have to be validated in the state of purchase. That state takes the required federal taxes off the top, your home state will tax you on the state tax portion of your winnings. There are no states free of income tax. There ARE states that have no sales tax, but that has nothing to do with PB or MM. You WILL pay state and federal taxes on lottery tickets.
^^^
I wonder about that, too. It seems that once you sign that ticket, all anonymity goes out the window. Perhaps you "Xerox" the holy hell out of your winning ticket before you hand it over in case your lawyer decides to start researching countries with which America has no extradition rights. I don't understand the whole anonymity thing anyway, as most lottery offices will release your name upon winning to prove that the program is legitimate. Is it just to keep exposure to a minimum?
I like the idea of keeping a big win quiet, though. I hate that there are unsavory characters that would start eyeing your family members and wondering how much you'd be willing to pay to get them back in one piece. I know, I'm a ghoul, but am I the only one who worries about that kind of thing?
Well, Jorli, afraid that's not true. If I won Mega Millions in New Jersey, I would not pay a dime of it to the state. Only the Feds. We have no tax on lottery prizes in NJ. Same goes for several other states. See the Mega Millions and Powerball Jackpot Analysis pages at USA Mega for a breakdown.
Well, Jorli, afraid that's not true. If I won Mega Millions in New Jersey, I would not pay a dime of it to the state. Only the Feds. We have no tax on lottery prizes in NJ. Same goes for several other states. See the Mega Millions and Powerball Jackpot Analysis pages at USA Mega for a breakdown.
Thanks for the correction Todd. I really didn't know they didn't get you at both ends on taxes. I will read up on that. For the record, I'm not a tax lawyer, but I was simply ignorant on the no state taxes in some states. That amazes me. I better stick to criminal law. Thanks again and I will read up on those sites
No problem, I just thought you might have something to add, knowing your background in law. I didn't intend to pull you into a discussion you weren't prepared for -- sorry!
MM and PB winning tickets have to be validated in the state of purchase. That state takes the required federal taxes off the top, your home state will tax you on the state tax portion of your winnings. There are no states free of income tax. There ARE states that have no sales tax, but that has nothing to do with PB or MM. You WILL pay state and federal taxes on lottery tickets.
There are states free of income tax in all circumstances, lottery or just working pay. I know Florida and Tennessee are two, and I know there are a few others. Not an accountant I see.
MM and PB winning tickets have to be validated in the state of purchase. That state takes the required federal taxes off the top, your home state will tax you on the state tax portion of your winnings. There are no states free of income tax. There ARE states that have no sales tax, but that has nothing to do with PB or MM. You WILL pay state and federal taxes on lottery tickets.
There are states free of income tax in all circumstances, lottery or just working pay. I know Florida and Tennessee are two, and I know there are a few others. Not an accountant I see.
No JS, I'm not an accountant. Nor am I a tax attorney. I'm always interested in learning new things. I was aware that there are states with no sales taxes, however, I was not aware that included no state taxation on lottery jackpot winnings. Try, not to be so quick to attack. Im not afraid of learning or challenges.
man you can't just give someone $258 millionif you think about it thats just crazy i wish i could win
Did anyone found out that if ticket were Quick Pick or self pick ????
We visited the store again. More people this time, had to park farther away. Even though the News van was gone, now just some kind of road construction sign but nothing on it, in front of the store. People playing more tickets there. I missed the 4 by one #. If I had $ to play ALL (20 or so) of my picks I would have won! Fun anyway just to go there and play where the only one winner was!
I hope it was self-pick. That means the #s are possibly system-able!
One thing, it's not much fun to send a lawyer to claim your prize for you. My name scrolling across the terminals all over nj would be so cool, and being able to help the people that were there for me before it happened, and all the excitement, would be worth all the downsides.
LckyLary wrote:
I missed the 4 by one #. If I had $ to play ALL (20 or so) of my picks I would have won!
Which lottery were you playing that had a 4 in the winning numbers?
The NJ has posted that they will have a press conference with the winner tomorrow morning. It was announced on New Jersey Cable 12 during the ten o'clock news.
One thing, it's not much fun to send a lawyer to claim your prize for you. My name scrolling across the terminals all over nj would be so cool, and being able to help the people that were there for me before it happened, and all the excitement, would be worth all the downsides.
I would think that Jack Whitiker had the same thought. Cost him, at the very least, a grand daughter. Now he regrets it. Learn from those who go before you.
NY sometimes scrolls the names of lottery winners on the terminals' LEDs. I would hope they don't do that if I win.