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Message
re: That billion dollar mega-millions ticket was just claimed
Posted on 3/5/19 at 5:58 am to gthog61
Posted on 3/5/19 at 5:58 am to gthog61
quote:
It never was a $1.5B jackpot. It was a $900MM jackpot.
Close. The government owns the lottery. They take the $1.5 billion and cut it in half. They then take about 39% for federal taxes. They then grab almost 10% more for SS and medicare taxes. Then the state grabs 7%.
Once the 56% is grabbed, that's how much the lottery was. Calling it $1.5 billion is an advertising gimmick.
1
Posted on 3/5/19 at 6:17 am to Hangit
And remember the government (in La) claimed it was all going to education....and this caused it to voted in. Yes it all goes to education...and then they transfer an equal amount from education to the various slush funds in the government.
Posted on 3/5/19 at 6:32 am to jeffsdad
quote:
and then they transfer an equal amount from education to the various slush funds in the government.
I remember when they did that. Nobody was tarred and feathered and run out of town so it must have been OK.
It sure seemed pretty low-down at the time.
Posted on 3/5/19 at 6:34 am to jeffsdad
I think it’s ridiculous that we had to promise it all went to education to find it anyway.
But yea you’re right. They do the same exact things with taxes for police forces and fire departments.
But yea you’re right. They do the same exact things with taxes for police forces and fire departments.
Posted on 3/5/19 at 6:35 am to lsuwontonwrap
Btw they can’t take the lump sum because they waited longer than 60 days to claim the prize. Therefore they will have to take the annuity
Posted on 3/5/19 at 6:37 am to EA6B
quote:
You don't have to deal with local banks, I paid off my mortgage lump sum, it was held by Wells Fargo, doubt if a actual human being ever even saw my account, same with online banking, lots of people no longer deal with local banks. For significant wealth you deal with CPAs and Lawyers in large cities like Dallas, Houston, NYC. They have experience with very wealthy clients, and understand the importance of privacy.
And these banks all have Private Wealth Management groups. Your accounts are held in different system that Susie the $11 an hour teller can’t access. If you need something you call your private banking representative, you don’t drive down to your local branch.
Posted on 3/5/19 at 6:43 am to jeffsdad
quote:
Yes it all goes to education...and then they transfer an equal amount from education to the various slush funds in the government.
This is virtually all states. Kentucky is just as bad, and worst case, they could use that revenue to fund teacher pensions which are woefully underfunded here.
Posted on 3/5/19 at 6:58 am to crazyLSUstudent
quote:
Btw they can’t take the lump sum because they waited longer than 60 days to claim the prize. Therefore they will have to take the annuity
Except
quote:
As allowed by South Carolina law, the winner has elected to remain anonymous and has chosen the cash option of a one-time payment of $877,784,124. This is the largest jackpot payout to a single winner in United States history.
Posted on 3/5/19 at 7:08 am to GetCocky11
MFn JG Wentworthe’d em.
Posted on 3/5/19 at 8:25 am to GetCocky11
quote:
Except
quote:
Unless there is a different Party Lottery rule, Grand Prizes shall be paid, at the election of the player made no later than sixty (60) days after the player becomes entitled to the prize, with either a per winner annuity or cash payment. If the payment election is not made by the player within sixty (60) days after the player becomes entitled to the prize, then the prize shall be paid as an annuity prize.
Lottery rules
Posted on 3/5/19 at 8:26 am to lsuwontonwrap
quote:
has chosen the cash option of a one-time payment of $877,784,124. This is the largest jackpot payout to a single winner in United States history.
Posted on 3/5/19 at 8:38 am to crazyLSUstudent
quote:
quote:
Except
quote:
Unless there is a different Party Lottery rule, Grand Prizes shall be paid, at the election of the player made no later than sixty (60) days after the player becomes entitled to the prize, with either a per winner annuity or cash payment. If the payment election is not made by the player within sixty (60) days after the player becomes entitled to the prize, then the prize shall be paid as an annuity prize.
Lottery rules
The lottery themselves said in a news release that the winner took the one-time payment.
Posted on 3/5/19 at 8:40 am to TechDawg2007
quote:
allowed a fellow customer to make a Mega Millions lottery ticket purchase in front of the winner while in line at the store.
God wanted to teach that line cutter a lesson.
Posted on 3/5/19 at 8:45 am to GetCocky11
Well I guess SC follows different party lottery rule
Posted on 3/5/19 at 8:52 am to Topwater Trout
quote:
I wonder if that even matters
The only way it would matter is if EVERYTHING ELSE that occurred in the ticket buying process for the winner would have occurred exactly (and I mean exactly) the same for the other guy cut the line.
Assuming the winner played quick picks: You don't get a specific set of quick pick numbers based on your position in line. The "random" number generator algorithm to select quick picks likely involves grabbing and using the milliseconds or even microseconds off the system clock at the time the request is made by the clerk.
Unless that clerk would have "pressed the button" at the exact same microsecond for either player, your order in line does not matter.
Posted on 3/5/19 at 8:59 am to lsuwontonwrap
If I won this much money I'd be dead within 90 days
Posted on 3/5/19 at 9:04 am to PhiTiger1764
I am not convinced he is smart.
If he plans to live in the same town, local people will figure out pretty quickly that it was him when they see his Ferrari and mansion. If he is moving, why delay at all? In either case, someone will blab-- a friend, family member. 100%.
Using an extremely conservative 2% simple interest, this guy forfeited about 30 grand a day for every day he dicked around. Warrant Buffet wouldn't step over 30 grand a day.
I get a month to plan and hide. I guess I can understand 2 months. But 5? Screw that.
He could have been smarter.
If he plans to live in the same town, local people will figure out pretty quickly that it was him when they see his Ferrari and mansion. If he is moving, why delay at all? In either case, someone will blab-- a friend, family member. 100%.
Using an extremely conservative 2% simple interest, this guy forfeited about 30 grand a day for every day he dicked around. Warrant Buffet wouldn't step over 30 grand a day.
I get a month to plan and hide. I guess I can understand 2 months. But 5? Screw that.
He could have been smarter.
Posted on 3/5/19 at 9:05 am to Apache
quote:
If I won this much money I'd be dead within 90 days
I wouldn't make it through the night of the drawing. I'd drop dead when I realized I won.
Posted on 3/5/19 at 9:27 am to TigerCoon
He cost himself 0.05% of his winnings by waiting. For whatever reason he waited, I would say it out values that tiny amount money he forfeited
Posted on 3/5/19 at 9:37 am to TigerCoon
quote:
If he plans to live in the same town, local people will figure out pretty quickly that it was him when they see his Ferrari and mansion.
Or he might just not buy a Ferrari and mansion?
quote:
If he is moving, why delay at all?
Because he wanted to get his affairs in order? Hire a lawyer, financial advising team, accounting firm, etc. and have all of them sign NDA's. Hire a real estate group and have them all sign NDA's.
Maybe he researched all of these things a lot.
quote:
In either case, someone will blab-- a friend, family member. 100%.
Sure, eventually it'll get out.
quote:
I get a month to plan and hide. I guess I can understand 2 months. But 5? Screw that.
Maybe he was finalizing a divorce
Maybe he was having pre-scheduled surgery.
Maybe he owned a business with employees that needed pay checks and he needed to get that figured out. When you get the money, it will be a while before the money hits his accounts and he could back pay people if he had employees.
You just never know.
This post was edited on 3/5/19 at 9:39 am
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