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Payment in 20Yr Installments

Topic closed. 15 replies. Last post 5 years ago by B$Rizzle.

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NY
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December 31, 2010
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Posted: August 26, 2011, 7:07 pm - IP Logged

It is my undertstanding at least in NY state that all instant lotteries whose top prize is 1 million or more is paid in installments, typically over 20 year period. How about the 2nd prize, is that paid in installments too? sometimes the 2nd prize can be 100K or 250k. How about instant lottery whose top prize is 250K or 300K, is that paid in installments? The reason I'm asking is say if the top prize is 250K and if it is paid over 20 yr installments then it will be about 12.5K per year before taxes, which is not much. How can you find out whether the payments will be made in installments or in lum sum?

    rdgrnr's avatar - walt
    Way back up in them dadgum hills, son!
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    Posted: August 26, 2011, 7:41 pm - IP Logged

    It is my undertstanding at least in NY state that all instant lotteries whose top prize is 1 million or more is paid in installments, typically over 20 year period. How about the 2nd prize, is that paid in installments too? sometimes the 2nd prize can be 100K or 250k. How about instant lottery whose top prize is 250K or 300K, is that paid in installments? The reason I'm asking is say if the top prize is 250K and if it is paid over 20 yr installments then it will be about 12.5K per year before taxes, which is not much. How can you find out whether the payments will be made in installments or in lum sum?

    I kinda doubt they'd pay those amounts (100K to 250K) in installments but you could call or email them and find out.


                                                 
                         
                                             

     

     

     

     

                                                                                                       

    "The only thing necessary for evil to triumph is for good men to do nothing"

                                                                                                --Edmund Burke

     

     


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      Posted: August 26, 2011, 8:02 pm - IP Logged

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        rdgrnr's avatar - walt
        Way back up in them dadgum hills, son!
        United States
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        Posted: August 26, 2011, 8:25 pm - IP Logged

        pic

        He's asking about scratchers.


                                                     
                             
                                                 

         

         

         

         

                                                                                                           

        "The only thing necessary for evil to triumph is for good men to do nothing"

                                                                                                    --Edmund Burke

         

         

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          NY
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          Posted: August 26, 2011, 8:31 pm - IP Logged

          He's asking about scratchers.

          Correct

            time*treat's avatar - radar

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            Posted: August 26, 2011, 8:37 pm - IP Logged

            It is my undertstanding at least in NY state that all instant lotteries whose top prize is 1 million or more is paid in installments, typically over 20 year period. How about the 2nd prize, is that paid in installments too? sometimes the 2nd prize can be 100K or 250k. How about instant lottery whose top prize is 250K or 300K, is that paid in installments? The reason I'm asking is say if the top prize is 250K and if it is paid over 20 yr installments then it will be about 12.5K per year before taxes, which is not much. How can you find out whether the payments will be made in installments or in lum sum?

            If a prize is paid out in installments, it will say so on the ticket. Otherwise, the prize is paid all at once.

            If your scratcher wins $20, and the clerk offers you $1 and tells you to come back for another $1 each of the next 19 years, you're in Mr. Patel's store. Take your scratcher and run.

            In neo-conned Amerika, bank robs you.
            Alcohol, Tobacco, and Firearms should be the name of a convenience store, not a govnoment agency.

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              Kentucky
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              Posted: August 26, 2011, 11:20 pm - IP Logged

              If a prize is paid out in installments, it will say so on the ticket. Otherwise, the prize is paid all at once.

              If your scratcher wins $20, and the clerk offers you $1 and tells you to come back for another $1 each of the next 19 years, you're in Mr. Patel's store. Take your scratcher and run.

              LMAO!

                redhot7's avatar - SetforLifeLogo
                California
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                Posted: August 27, 2011, 12:03 am - IP Logged

                I doubt that the lottery would bother to divide 250K in 20 years.

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                  NY
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                  Posted: August 27, 2011, 9:40 am - IP Logged

                  I doubt that the lottery would bother to divide 250K in 20 years.

                  What about 777 which pays $777,777

                    BaristaExpress's avatar - BaristaExpressMX zpsfb0d8b5d.png
                    Magnolia, Delaware
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                    Posted: August 27, 2011, 12:59 pm - IP Logged

                    What about 777 which pays $777,777

                    You have got to be kidding? You even said yourself if the prize is one million or more it's paid in installment over a period of 20 yrs. Now are you that numb in the brain to not think this through? Really, I'm serious! Anything under the one million dollar thrush hold will be paid in a lump sum of course minus the fed tax from it. Get a clue and do some reading on your state guidlines for payouts on it's lotteries that are offered to the public to play!

                    Keep dreaming the impossible dream, it just may come true! Thumbs Up

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                      NY
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                      Posted: August 27, 2011, 6:03 pm - IP Logged

                      No need to be that obnoxious. You could always not reply. There is a reason why I'm asking this bud, there is no information on the lottry website, may be written on the ticket but I want to know before I purchase a ticket. Never mind your tiny whiney brain won't get it.

                        B$Rizzle's avatar - a4leds
                        The Ville, FL
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                        Posted: August 28, 2011, 2:05 pm - IP Logged

                        No need to be that obnoxious. You could always not reply. There is a reason why I'm asking this bud, there is no information on the lottry website, may be written on the ticket but I want to know before I purchase a ticket. Never mind your tiny whiney brain won't get it.

                        You are asking an obnoxious question that you are too lazy yourself to google. This isn't the first "tiny whiney brained" question you have asked on here. Expect that kind of response from now on. Especially from me after you acted like a complete d*ck when I tried to legitimately asnwer your question in the other thread.

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                          NY
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                          Posted: August 28, 2011, 6:52 pm - IP Logged

                          You are asking an obnoxious question that you are too lazy yourself to google. This isn't the first "tiny whiney brained" question you have asked on here. Expect that kind of response from now on. Especially from me after you acted like a complete d*ck when I tried to legitimately asnwer your question in the other thread.

                          Mofo, if you can google everything then why you are here? Did you just hear about GOOGLE from someone and without really knowing what it is or what it does, you want to try it on me.

                            B$Rizzle's avatar - a4leds
                            The Ville, FL
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                            Posted: August 28, 2011, 8:15 pm - IP Logged

                            Mofo, if you can google everything then why you are here? Did you just hear about GOOGLE from someone and without really knowing what it is or what it does, you want to try it on me.

                            Your wish is my command:

                            Copy/paste this link into your browser:
                            http://lmgtfy.com/?q=Why+is+jaggudada+such+an+idiot%3F

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                              NY
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                              Posted: August 30, 2011, 8:27 pm - IP Logged

                              You are asking an obnoxious question that you are too lazy yourself to google. This isn't the first "tiny whiney brained" question you have asked on here. Expect that kind of response from now on. Especially from me after you acted like a complete d*ck when I tried to legitimately asnwer your question in the other thread.

                              Hey duffer,

                              your thinking is very simpleton like, if the big cat won't pass through small hole then you think how will the small cat pass through big hole? It will.

                              Here is what lottery told me, that tripple 777 whose top prize is $777,777 even if it is less than a million it is paid in 10 yrs installments. Get it idiot?  If you don't know then don't assume anything. If you know 777,777 is lesss than a million then everyone knows that. What you know everyone knows, there was a reason why I asked that question because I had a doubt.