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LOTTERY POST 25TH ANNIVERSARY GIVEAWAY #2Reply
I would start a trust first and foremost. Taxes of course, where do you begin? There is so much need in the world. People need electrical bills paid,food bills paid, medical, medicine and taxes paid so they don't lose their homes. to fund missionaries across the world. of course pay off what you owe give the majority away because nothing ever good comes from hanging onto so much wealth. Share it with folks that don't even know you, but the need is so great. put enough money aside for family not
Jun 23, 2025, 5:23 pm - bella1212 - Lottery Discussion Forum

Mega Millions and Powerball RaceReply
I am relatively new to the pool and am not too sure on all the rules. The pool manager is based in Canada (so am I) and decides to buy tickets when everyone in the pool can win $1 million in Canadian money after taxes have been deducted. He must have a formula to calculate the taxes and share for each person. He has a relative in the US to buy tickets for the pool.
Jun 18, 2025, 6:45 pm - winoneday - Lottery Discussion Forum

Connecticut couple of 25 years celebrates with $100,000 Powerball lottery winReply
Today l asked my DeepSeek Ai a very interesting question . How much do l need to win in lottery to receive $1,000,000,000 cash after lump sum and after Tax ? The answer was interesting To determine how much you need to win in the lottery to receive **$1,000,000,000 cash after lump sum and taxes**, we need to account for two main deductions: 1. **Lump-Sum Reduction**: Lottery jackpots are typically advertised as annuities (paid over 30 years), but winners usually opt for a lump-s
Aug 2, 2025, 12:52 pm - Powerball765 - Lottery News

Are you playing Mega Millions with the $5.00 per play?Reply
It is very easy to avoid paying taxes on lottery wins. Have a winning ticket? Burn it! I've got an even better idea, and if I win the 860ish million cash I expect at drawing time my federal tax bill would be way less than the $318 million some people would pay. But how many people are really that stupid, that they would turn down a large amount of money just to avoid having to contribute a portion of it, as much as 37%, to the treasury? Is that rhetorical? I know that you know that
Sep 6, 2025, 3:45 am - KY Floyd - Lottery Discussion Forum

Are you playing Mega Millions with the $5.00 per play?Reply
I guess they would have liked paying 70% in taxes like back in 1980. Since I'm not a moron, I'd love to have paid taxes in the 70% bracket. To do that I'd have needed taxable income of more than $215,400, which is equivalent to about 844k today. Also because I'm not a moron I know that I'd only have paid 70% on the taxable income in excess of that 844k (in today's dollars). Still, even if I'd had to pay 70% on all of that, I'd still have had the equivalent of 253k after taxes, plus whatever
Sep 4, 2025, 7:37 pm - KY Floyd - Lottery Discussion Forum

TaxesReply
I'm not clear on just what and how much you don't know, but regardless of the corporate structure companies only pay income taxes on net profits. Even the most profitable company can have no net profit if they pay enough money for things that are deductible. In an LLC the money typically passes through to the owner(s) so the LLC has no tax liability and the money is taxable as income of the owner(s). Things will be a bit more complicated if a lottery prize is claimed by an LLC using its own
May 26, 2026, 12:35 am - KY Floyd - Lottery Discussion Forum

Annuity or Cash ValueReply
That is a very reasonable explanation. Another key consideration would be taxes and the ability to lock the current tax rate when you go with the cash option. Politicians may not necessarily raise taxes for all, but there is a hight chance that 15 years from now the direction would be to tax those in higher income brackets more. The way the annuity is structured, you earn more in the later years, so that becomes a real risk. Thank you for all your very valid points
May 14, 2026, 9:41 pm - JustMaybe - Lottery Discussion Forum

South Dakota trust claims $78 million Lotto Texas jackpot days before it expiresNews Story
Winner waits nearly until the very last minute By Kate Northrop Less than a week before a $78 million Lotto Texas jackpot was set to expire, a South Dakota-based trust stepped forward to claim it. Last month, the Texas Lottery put out a last call for an expiring $78 million Lotto Texas jackpot. Just this week, mere days before it expired, the winner brought the winning ticket forward. The winner claimed under a trust based in Sioux Falls, South Dakota, called Jua-Ri Trust Agreeme
May 13, 2026, 8:28 am - Todd - Lottery News

2026 tax rates now published at USA MegaReply
There are local income taxes in some states too. There are cities in Michigan that have city income taxes. Also there is a petition circulating in Michigan to add a second rate for Millionaires.... because a million dollars.. clearly a capricious amount. There is no analysis being circulated as to why a million dollars is the magic number.
Jan 7, 2026, 7:17 pm - Think - Lottery Discussion Forum

Did Hell freeze over?Reply
Them putting up the lump sum winnings estimate is honestly what they should have been doing from the get go. Next step/stop if they haven't already is to include the take home winnings after taxes for the lump sum winnings. Edit. I read your thread incredibly fast at first and thought they put up the lump sum winnings estimate. I reread your thread and saw that they were talking about the cash value of annuity, not the lump sum winnings. It is still nice of them to put up the cash value
Oct 3, 2025, 10:06 pm - Lotto Motto - Lottery Discussion Forum