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Ohio winner of $196M lottery jackpot claims prize anonymouslyReply
I don't understand people and what they don't know about taxes...... You pay what % on your income? lets say 35% the top bracket...OK Each yr your going to be paying 35% income tax on your annuity plus the state tax for the state of Ohio...... OK now you take it as a lump sum and pay 35% + the Ohio income tax the ONE TIME! Do you get it now? I hope so...... Now lets say you invest wisely.... now you get to pay a 15% capitol gains tax on the investments instead of being taxed at the 35% rate on y
Jun 28, 2008, 8:27 pm - BaristaExpress - Lottery News

Ohio winner of $196M lottery jackpot claims prize anonymouslyReply
Ohio gets to collect income tax on all of it, whether they take it as a lump sum or annuity. It's just a question of whether they collect it all now or a bit each year. The village can enact any kind of tax they want. The income doesn't come from the village, so if the winner doesn't live there in the future they won't have to pay the tax.
Jun 28, 2008, 1:35 am - KY Floyd - Lottery News

You know you're a LP lotto player when:Reply
When you look at a MM or PB jackpot you know within seconds of how much it is with the cash option and what it would roughly be after taxes and refer to the winnings at that amount instead of the advertised annuity when discussing it, which results in people staring at you as if you're a weirdo.
Jun 20, 2008, 8:06 pm - DC81 - Lottery Discussion Forum

At what jackpot will you continue or quit working?Reply
Why so much to the three family members? Obviously I don't know them but giving them that amount seems rather dangerous. You should give it to them in an annuity! Plus the taxes would probably be murder on that.
Jun 17, 2008, 2:54 pm - DC81 - Lottery Discussion Forum

Kellogg's worker won't change much after winning $1M lottery jackpotReply
I don't think there was a cash option.The article said that she gets an annuity payment for 20 years,not enough to live on,though.It will make life a little easier for her and her family.
Jun 4, 2008, 4:01 pm - MaddMike51 - Lottery News

Man claims $16M Florida Lotto prizeReply
Way to go. I was not aware that there was also an additional option for annuity and lump sum. Neat concept for the young (thirty-five) and younger. When you hit fifty, you need to lump-sum-it! LOL
May 27, 2008, 10:45 pm - mylollipop - Lottery News

Ex-boyfriend charged with killing $5M lottery winnerReply
Wow.... Kinda scary sleeping with the enemy, Good thing she plan for the future for her Family taking annuity payments for 20 years she just received her second payment and have 18 more to go.....
May 9, 2008, 9:39 am - mken32 - Lottery News

Minnesota couple claims $180 million Powerball jackpotReply
Why is the Mega Millions cash option so much higher than the Power Ball version? Don't they both use the same method of paying out the advertised jackpot with treasury bonds? Maybe I should read up on it... 180M PB = 88 Million (about 49% of the annuity jackpot). 145M MM = 88.3 Million (about 61% of the annuity jackpot). I know as the MM rises, the percentage lowers, but it's still starts off almost equal to Powerball where the starting jackpot is three million higher, then ag
May 8, 2008, 7:33 pm - DC81 - Lottery News

Lottery winner facing tax fraud trial diesReply
They owe that much because they sold the annuity about 8 years ago. The 1.6 million would have resulted in about 600k in federal taxes, if they had been paid when they were due. Filing a false return means significant penalties are added to the original amount, and then you owe interest until the obligation is paid.
Apr 28, 2008, 2:05 pm - KY Floyd - Lottery News

Wow, this is rare.Reply
It's not that unusual for MM to reach 100 million. On average they have to sell 176 million tickets for each winner, and 176 milliontickets generates about $90 million (annuity value). A jackpot of 100 million following one that's well over 200 is only unusual because it doesn't get well past 200 very often. OTOH, almost exactly two year ago there were back to back jackpots of $267 million and $265 million.
Mar 26, 2008, 3:10 am - KY Floyd - Jackpot Games Forum