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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

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

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

I know that this is technically not a lottery question, it's about PCH Sweepstakes bankruptcy .Reply
He bought a house on six acres, presumably with a 30 year mortgage. $260k a year minus taxes minus reasonable living expenses and a 5 year mortgage would pay for a decent house. Of course, he could save up the money for a few years and then pay cash, but that would cost a lot more if he was renting. It's not so much the mortgage itself but being mortgaged to the hilt. Borrowing as much as possible and spending every penny is a really bad idea.
May 28, 2026, 12:43 am - Tucker Black - Lottery Discussion Forum

Idaho man wins the lottery for the 18th time over 30 yearsReply
The $200K in 2014 was a decent win. Pretty certain he walked away with $100K plus after taxes. If so far he's spent more than $100K on tickets, that's very impressive
May 25, 2026, 7:21 pm - JustMaybe - Lottery News

Oregon lottery kept my $1500 winning ticketReply
Since you are new here, after you click on Reply to respond to someone, click on the box where it says Include original post in your reply . That will put a check mark in the box and then everyone will know exactly who you are responding to. One caveat, do not include any links in PM's until you lose your new member status or you will be suspended. If you delete/erase the link in your PM reply you'll be good. You see the little white bars under standard by your avatar? If you click on the first
Jun 3, 2026, 6:27 am - grwurston - Lottery Discussion Forum

I know that this is technically not a lottery question, it's about PCH Sweepstakes bankruptcy .Reply
He bought a house using a mortgage -- moron! I've got a suspicion he's not the best decision maker out there, but a 30 year mortgage at 2016ish rates may be a very sensible decision, especially if you're borrowing about 500k. Most of the 30k in annual payments would be deductible interest for the first few years. That turns a rate of 3.5% into an actual cost of perhaps 2.6%, and it frees up a bunch of money for investing if you're smart enough to do it. A 30 year mortgage also lets you buy
May 28, 2026, 1:27 am - KY Floyd - Lottery Discussion Forum

Ohio survivor of freak July 4th parade crash wins $500,000 in the lotteryNews Story
From near-death experience to life-changing luck By Kate Northrop Years after surviving a terrible freak accident at a Fourth of July parade and dealing with the fallout, an Ohio man won a $500,000 lottery prize that turned his life around. A car crash survivor used to believe that luck was on his side after he walked away from an awful accident, but a different sort of luck came his way last month that would change everything. Duane Huffman of Fremont has had a difficult life ev
Yesterday, 7:04 am - Todd - Lottery News