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I know that this is technically not a lottery question, it's about PCH Sweepstakes bankruptcy .Reply
Thank you for that indepth detailed link to the PCH Annuity Sweepstakes Bankruptcy. :) I was mistaken when I said he was supposed to get millions until his death, turns out he was getting $260,000 a year before taxes. That's still a very nice chunk of change to live off. There are people who work for 10 years and accumulate around $260,000 minus taxes and he was getting that every year for 10 years and not having to work. He shouldn't have blown his money frivolously.
May 26, 2026, 9:18 am - Lotto Motto - Lottery Discussion Forum

Louisiana lottery winners collect their "Night of Millionaires" Powerball prizes of $1 millionReply
He will have to pay an extra $70,000 in California state income taxes. But still a nice payday on a $2 ticket.
May 26, 2026, 9:24 pm - Tucker Black - Lottery News

Taxes
I'm a member of a large group that have been playing for years. When the time comes and we win I know a tax attorney and accountant is suggested. I have read a LLC or of sort will be needed to claim the one check prise. My question is......... I know the Florida lottery collects 24 percent before issuing the check to the LLC and the LLC will distribute equal checks to each member. Now each member will be taxed again. That's double tax in my opinion. Can each member get a tax credit for what was
May 22, 2026, 11:27 am - Booroo - Lottery Discussion Forum

Finally! Millionaire For Life Jackpot Winner!Reply
Yep, about 1.3 million here after taxes. That's all I need!
May 10, 2026, 8:49 am - HoLeeKau - 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

Louisiana lottery winners collect their "Night of Millionaires" Powerball prizes of $1 millionNews Story
Pattern on play slip triggered nationwide windfall as Louisiana ranks third in wins By Kate Northrop Lottery winners who struck it big in the Powerball Night of Millionaires drawing that awarded nearly one hundred players a second-tier prize of $1 million or more have been lining up to collect their prizes, one after the other. In what was dubbed the Powerball Night of Millionaires by lottery officials, Louisiana was the state that came in third for the greatest number of second-tier
May 26, 2026, 4:20 pm - Todd - Lottery News

Virginia: 5/1 - 5/31/2026Reply
If you had played that for $0.50 today, it would have paid $400. Don't do it for a buck or you'll have to go to the lottery office and pay taxes.
May 30, 2026, 3:46 pm - parlayman - Pick 3 Forum

Oregon lottery kept my $1500 winning ticketReply
It has nothing to do with taxes. They are keeping my ticket because my friend had taken it to wilsonville to cash it in. They say that I wasn't allowed to do that and they are keeping my winnings.
May 19, 2026, 5:39 pm - HowdyDoody2 - Lottery Discussion Forum