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Lottery Winner's Plans? Paying the BillsReply
I believe in the annuity option for myself, at my age, but my concern in income taxes. Rates are low now and will almost certainly rise in the future. In Texas we have to choose the option when buying tickets, and I always choose the cash option if the annuity payments would much exceed $1,000,000. He's going from a minimum wage job to ultra-high net worth. He doesn't know how to be wealthy, but hopefully he'll learn quickly.
Apr 23, 2010, 2:29 pm - Longarm - Lottery News

Powerball outmuscles Mega Millions in sales, jackpotsNews Story
Powerball is on a roll. Wednesday's annuity jackpot got to be gigantic $252 million by leaving the main rival in the dust. Both grew for 11 drawings, but the top prize in Mega Millions rose only to $143 million Tuesday night. When states began selling both lotteries on Jan. 31, observers wondered how they'd fare head to head. The verdict seems to be in. Powerball is Coke, Hertz, Muhammad Ali. Mega Millions is Pepsi, Avis, Joe Frazier. In Pennsylvania, a Powerball state for year
Apr 21, 2010, 8:12 am - Todd - Lottery News

POLL: Jackpot amountsReply
If you ever find yourself the only winner of a jackpot larger than you would care to accept alone then you'll probably have no problems gathering a pool of family members, friends and neighbors who would be happy to claim it with you. The only problem is they probably wouldn't tell you if the situation was switched they would not do the same with you and you would probably like to think they would. Myself, if the jackpot was large enough to pay an annuity of $5M or more annually, I would acce
Apr 18, 2010, 6:00 pm - RJOh - Lottery Discussion Forum

Would You Cash Out Your Annuity?Reply
If you won the jackpot then your biggest problem would be where to invest your money. The annuity is a tax sheltered investment that pays about 5% per annum, you would be hard press to make wise investment choices for so much money that would pay better in after tax investments. Your annual check should be plenty for a good lifestyle plus enough to do some dollar cost averaging investments but should you overspend, it should be possible to secure a personal loan or mortgage till the next annual
Apr 2, 2010, 11:45 pm - jwhou - Lottery Discussion Forum

N.C. man claims $141M Powerball lottery jackpotReply
Why is it even necessary to offer an annuity? What is the purpose of offering one?
Mar 1, 2010, 12:04 pm - JWBlue - Lottery News

N.C. man claims $141M Powerball lottery jackpotReply
It's not false advertising because the prize itself is an annuity OR lump sum, whichever the winner chooses. This is stated in the rules of the game which the player is responsible for reading, although a lot of people don't bother reading the rules of jackpot games such as Powerball, Mega Millions, or Lotto. They just see the jackpot amount, want it, and buy tickets for it. Whether or not they were unaware the advertised was an annuity not is their responsibility. I'll say what I've said bef
Feb 28, 2010, 10:30 pm - Guru101 - Lottery News

Winning the Jackpot and taxes.Reply
Taxation residency is based on the concept of centers of vital interest . Source of income is a big one but is only one third of the picture, moving, closing old bank accounts, opening new ones, new memberships, selling property etc. goes a long ways to establishing a different tax residence. It's possible to avoid the state taxes of a lottery but it may always be necessary to file a return. It's more a matter of having to pay the state's taxes but being able to claim most of it back. Regardless
Feb 25, 2010, 2:10 pm - jwhou - Lottery Discussion Forum

Mega Millions QuestionReply
NJ Players have to choose Cash or Annuity at time of Purchase for both MM PB...
Feb 5, 2010, 12:16 am - Raven62 - Jackpot Games Forum

Your State Now Having Both Powerball And Mega MillionsReply
I live on a border, and have always had the option of playing either or both. I'm about 8 miles from the border. I play them based on their cash expectation value, meaning I tend to play less Powerball because the odds are longer and the cash/annuity ratio is much lower. I play powerball when it's over 50M annuity, and Megamillions when it's over $35M annuity. I will continue to do the same. I hope that both games will continue and that any national game will be an additional game. I
Feb 3, 2010, 8:51 pm - Prob988 - Lottery Discussion Forum

50 cents on the dollar paid back in winningsReply
If you're getting 50 cents on the dollar from comparing cash option to annuity, that's not how it works. There was a thread about this once and the way it works is the advertised amount does not exist. That amount is what the annuity would pay over a specified number of years.
Jan 24, 2010, 6:25 pm - Coin Toss - Lottery Discussion Forum