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Unclaimed JackpotsReply
Your first sentence is also incorrect. In Washington State a winner apparently has 60 days from the time they claim the jackpot to decide, not 60 days from the drawing date. This is what it says on the Washington State lottery website: How long do Jackpot winners have to make their choice after they claim their prize? Winners have 60 days after claiming their Jackpot prize at a Lottery office to make their choice, whether they choose the traditional annuity or Cash Option. Winners
Apr 18, 2006, 3:06 pm - Uff Da! - Lottery Discussion Forum

Powerball Back-to-Back Jackpots Set RecordReply
It would certainly be nice if the official MM website listed the official cash value, wouldn't it? Besides finding it on the usamage home page you can find it onthe Ohio lottery website (ohiolottery.com). Interestingly enough, the Ohio lottery website lists the cash value right down to the dollar. I'm assuming that what they list is the expected cost to fund the annuity for the advertised jackpot amount. As far as I know the only other state that lists the cash value is New Jersey. 56% is ac
Apr 17, 2006, 12:26 am - KY Floyd - Lottery News

Winning a lottery jackpot can't guarantee happinessReply
Cash Only said: Mr Post had the misfortune of winning an annuity-only jackpot. For most people who have no clue about how to handle large sums of money and who have a difficult time saying no to others, I'd think an annuity would actually be a blessing. Unless they chose later to convert it to cash at a loss or borrowed against it heavily, they would be likely to squander one year's income at a time instead of the whole wad.
Apr 9, 2006, 1:40 pm - Uff Da! - Lottery News

Why GA-KY-VA Lose for Life will flopReply
I choose annuity when given the choice and I'm not going to boycott any game on the sole basis of whether or not that's an option. I don't play games with bad odds and better options elsewhere (a la DE Multi-Win Lotto). That being said, if someone buys me a ticket, I'm not going to be upset about it. The only time I might consider it is if the difference between the two is relatively small (ie: Hot Lotto $1M annuity vs. $500K cash) as I could make the difference easily in far less than 30 ye
Mar 2, 2006, 2:38 pm - rdc137 - Jackpot Games Forum

The final drawing for Lotto South...Reply
I think the beneficiary can still elect to take the remainder of the annuity as a lump sum at the time of death. In the case of a guaranteed annuity like Win For Life, the survivor would only receive payments for the duration of the guaranteed period, not the remainder of their life. The designation of a beneficiary bypasses the estate tax. Whether received as a lump sum or an annual payment, it'll be taxed as ordinary income. There was a recent tax law that concerns the taxation of lo
Feb 27, 2006, 7:15 pm - lchoro - Jackpot Games Forum

Powerball lottery jackpot reaches $250 millionReply
You realize that's the structure for Powerball everywhere, and not just Connecticut, right? The payout schedule is structured to inflate the fictitious jackpot they're advertising. If the payouts were the same every year the annuity they could buy would have a much lower total payout. By making smaller payments in the early years there is more principal to earn interest for the future payments. If you're patient enough (and stupid enough) Powerball could offer you a jackpot of a billion dollar
Feb 12, 2006, 3:07 pm - justxploring - Lottery News

How do you take itReply
Remember, from a tax perspective, the state, city, county, and the Feds can always change the tax liability upwards. As the need increases, the temptation to do so increases. There isn't a state out there that will ever have enough money, and will always be looking for additional revenue. Once you choose annuity, it will always be annuity - unless you choose to sell it at a loss and pay even more taxes. The Govenor of New Jersey has made three speechs about the state being financially ban
Feb 12, 2006, 12:01 pm - Chewie - Lottery Discussion Forum

Euro Millions rolled to £100MReply
You can see the list at https://www.lotterypost.com/thread/122827 Powerball's 363 miilion prize is number 2 because of their inflated annuity. Powerball will always remain number two because of the cap rule plus the lousy annuity. A 400 million megamillions (if it were ever to happen) would have a cash prize around 232 million but only 150 after tax (in wa state - a no income tax state). A 400 million powerball would have a cash prize around 198 million, 128.9 million after federal income tax
Jan 23, 2006, 5:54 pm - dvdiva - Lottery Discussion Forum

Ohio woman decides to drop appeal over lottery taxReply
1/22/2006....PLEEEZZEE BRONCOS..BEAT THE STEELERS/ PLEEZZEE PANTHERS..RIP APART THE SEAHAWKS... SPIT OUT THE FEATHERS.......aahhh...that said...1st.....everything 'Melodramatic Extreme' gets my attention....2nd...I, wasn't discussing anything 'illegal'.....I am speaking strictly of winning the Lotto/Lottery and I am staying on subject..I'm not the one out of touch here.3rd....We know that taxes go up down, and even that rich people, who don't need the money, get tax rebates...just look at
Jan 22, 2006, 3:28 pm - libra926 - Lottery News

Ohio woman decides to drop appeal over lottery taxReply
Maybe I'm misunderstanding your comments, but I'm pretty sure that taxes are based on where you win the money, not where you live. In other words, I live in FL where we have no state income tax. Still, if I drove to GA to buy a MM ticket and won, I'd owe Federal tax and then GA State tax. If someone has another educated opinion on this matter, I'd like to hear it. I am assuming if you buy a ticket in a city with city tax, you might also have to pay that too. When I lived in NH (no state tax) a
Jan 19, 2006, 10:26 pm - justxploring - Lottery News