How coud he quailfy for food stamps if he has money
at least 1 million after taxes right. Seems like he would be over the poverty line but I am not sure.
Michigan counts lottery winnings as “liquid assets”, not income even though he still has to pay income tax on it. A head scratcher if ever there was one. So if you win the lottery tell the IRS agent, “It’s not income, it’s liquid assets” and see how far that will get you.
I read elsewhere that federal food stamp guidelines don’t count lump sum receipts, i.e. payments that are not ongoing (like paychecks or social security payments).
Although I thought there was a (fairly low) cap on allowable assets, and that someone with more than approx $2K in the bank would not be eligible.