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Does the winning ticket holder only get 1/3 of the jackpot??Reply
Make sure the lottery line stretches out the door. Then, when you're at the counter, start filling out your slips, choose annuity , and finally, pay the agent in unwrapped pennies.
Apr 16, 2002, 6:19 am - CASH Only - Lottery Discussion Forum

Does the winning ticket holder only get 1/3 of the jackpot??Reply
Re: Today, I picked for the first time annuity because I hope that maybe my chances may improve. Good idea. And if you pay for your tickets only with one-dollar bills, that helps improve your chances of winning too.
Apr 16, 2002, 5:05 am - Guest - Lottery Discussion Forum

Does the winning ticket holder only get 1/3 of the jackpot??Reply
Then you're losing money to the company which sells the annuity to the lottery. They want to make money off YOUR winnings without you having a say. I can almost guarantee you'll regret wanting annual payments if you win.
Apr 16, 2002, 2:33 am - CASH Only - Lottery Discussion Forum

Annuity or Cash option?Reply
Good thing you didn't play NY Lotto-here, you're stuck with the annuity if you win. HOPEFULLY Mega Millions will allow us in NY to choose after we win.
Apr 16, 2002, 2:29 am - CASH Only - Lottery Discussion Forum

Annuity or Cash option?Reply
If you're required to choose, the default is annuity. But most states (I think only a few are left today that don't) allow you up to 60 days to make the final decision. Since you didn't say where you got them from I really cannot advise you further.
Apr 15, 2002, 10:54 pm - Abe - Lottery Discussion Forum

Annuity or Cash option?Reply
TAKE THE CASH OPTION! Reason why:1. If you die early on in an annuity your beneficiary will have to pay an estate tax on the remaining future payments.2. If invested wisely the interest earned in jumbo cd's will yield more in 26 years than interest earned in u.s. gov't securities which the lottery invests in.
Apr 15, 2002, 6:58 pm - Guest - Lottery Discussion Forum

what would you do if you won 325 millionReply
Hope for Tomorrow: Not a bad idea, I would try (let's face it kids, who really could wait that long?) to wait at least a week to let some of the fan fair die down, however in MA you have 60 days to tell the lottery that you want cash over annuity so you don't have forever to wait.
Apr 15, 2002, 6:27 pm - someday22 - Lottery Discussion Forum

Does the winning ticket holder only get 1/3 of the jackpot??Reply
The cash value works out to be about 53% of the annuity value. The IRS take is actually 39.1% which if you take the present 174 million cash value after federal taxes you should receive 105.966 million. Nothing to sneeze at.
Apr 15, 2002, 2:47 pm - megamillionaire - Lottery Discussion Forum

Does the winning ticket holder only get 1/3 of the jackpot??Reply
The prize is based on a 26 Year annuity for last Fri $220M drawing. The Cash payout runs about 60% of the total Then the IRS takes a minimum of 27% and the states other than NJ takes 2 to 5%So your numbers are about right 220 million last Fri netted 87 Million in Nj and like 76 Million in Md. But also remember the IRS is Taking 27% at the end of the year they will want up to another 13-23 percent. So expect at the end of the year (based on Fri 220m) to write a check for at least 10 Million when
Apr 15, 2002, 2:26 pm - hatecmptr - Lottery Discussion Forum

Annuity TaxesReply
I bet any financial advice you'd get will tell you to choose the LUMP SUM. What if the annuity company turns out to be another Enron ?
Apr 12, 2002, 2:09 pm - Guest - Lottery Discussion Forum