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On 10/12/2023 at 4:48 AM, wcw43921 said:

Billion-Dollar Powerball Jackpot Won In California

 

People on Twitter are saying the game is rigged and citing the number of Californians who win.  They're calling for a boycott.  Somehow, I don't think that's going to happen.

 

Sorry, folks.  Looks like the Crusader & Starburst streaming series will have to wait.

 

"People"...at least in one case, is just BarStool Sports, which is...not exactly reputable.  Or accurate.  The writer decries winning in California because of the income tax.

 

Hey, guess what, you idiot?  California does not tax lottery winnings. 

 

Unfortunately, it also doesn't allow you to remain anonymous.  Best state to win the lottery?  Wyoming.  No state tax, AND you can remain anonymous.  But, personally...I'd rather win in a state where I can be anonymous, even if I have to pay the taxes.  They don't really matter, especially with a prize of this size, but maintaining my privacy?  Priceless. 

 

An interesting point...the cash value is down to about 44% of the annuity value, because interest rates are back up.  In the heyday of low interest, it was over 55%...IIRC, close to 60%.  If you're curious what the payout structure looks like:

https://www.omnicalculator.com/finance/lottery-tax

 

 

 

 

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9 minutes ago, unclevlad said:

 

Best state to win the lottery?  Wyoming.  No state tax, AND you can remain anonymous.  But, personally...I'd rather win in a state where I can be anonymous, even if I have to pay the taxes.

 

 

The downside is that stopping to buy a lottery ticket would delay your departure from Wyoming...

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24 minutes ago, Old Man said:

 

The downside is that stopping to buy a lottery ticket would delay your departure from Wyoming...

 

And force you to return, to cash it in.  You can only claim any lottery prize in the issuing state.  And for the larger prizes, generally you have to go to a lottery office.  There's federal tax papers to be filed before you get the money.  And in Wyoming, if it's over $50K, you must turn it in, IN PERSON.  Which is entirely reasonable.  An unsigned lottery ticket is a bearer instrument...whoever possesses it, can collect.  When it's signed, therefore, proof of identity will be required.  For Wyoming, the only office to do this is in Cheyenne.  Other states might have multiple offices.

 

Altho, I...could put up with rather more annoyance than that would be, to claim a major prize...the cash value for California was, IIRC, around $450M after taxes.....

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