Posted on 06/16/2017 8:56:41 PM PDT by Beave Meister
The popular Powerball lottery and Mega Millions games will drop Illinois at the end of June without a budget agreement, Illinois Lottery officials said Thursday.
Concern over the state’s fiscal condition prompted the Multi-State Lottery Association to drop Powerball in Illinois, according to internal Illinois Lottery communications obtained by the Chicago Sun-Times.
Mega Millions also plans to drop the state unless a budget agreement comes together, state officials confirmed. Without a budget in place, the state isn’t authorized to make payments to Mega Millions or the association.
Those decisions were reached at national lottery meetings held this week, Illinois Lottery spokesman Jason Schaumburg said. Illinois belongs to the Mega Millions group, and has a license to sell Powerball.
(Excerpt) Read more at chicago.suntimes.com ...
They should let the mafia take it over.
A smart lottery winner establishes residency in a low tax state like Texas before filing for their winnings.
Taxes probably attach to the state of residence at the time of the drawing, especially if the winnings are from the treasury of that state.
Just think, we are slowly emerging from 8 hellish years of illannoy democrat mentality running the country. No wonder we are gazillions of dollars in debt and mechanically/administratively almost FUBAR! Pres. Trump needs all the help he can get and a curse upon those sandbagging him.
Right you are. At least the mafia has a code of honor and keep their word. More than can be said for democrats.
Same here in Ca u-haul only goes east and north.
People are being forced to buy tickets? Even Hamilton and Jefferson played the lottery.
Illinois should do what Louisiana does. Submit a budget that everyone knows isn’t balanced but proclaim it is, and then continue to the next budget crisis followed by a costly special session called by the gov. Then the loop restarts.
Nope. You pay taxes in the state where you bought the ticket.
All lottery rules state, that you have to pay taxes in the state you won tha lottery in and if you live in another state you still have to pay the taxes in that state too. Now if you won in Indiana and live in Illinois, you might want to move to Indiana, they have no state income tax. How ever I’m sure someone will know that the date of the lottery drawing and your move date was after the drawing might be a red flag.
Look for Illinois to continue selling tickets to their residents and pocketing the loot. “Sorry, there were no winners in Illinois this drawing.”
Not the poor, the stupid, rich and poor alike.
My brother refers to the lottery as “A tax on being stupid. The dumber you are, the more heavily you are taxed.”
“..A smart lottery winner establishes residency in a low tax state like Texas before filing for their winnings....”
Yep. Or establish a revocable Trust in that low tax state, give the ticket to the Trust and have the Trust file for the winnings and then distribute/tax according to the Trust. That way you can remain anonymous to the world. IF you don’t remain anonymous, your life is gonna be flipped upside down; you’d have 1500 solicitations in your mailbox everyday, people camped out on your lawn waiting for you so they can beg, relatives showing you that you never heard of and so on. Waking up and finding yourself as the CFO of a multi-million dollar business isn’t all it’s cracked up to be either.
“These morons can’t even run a gambling ring.”
Sums things up quite nicely.
L
Dad used to say that the lottery was a tax on stupid people.
Not every state will allow you to remain anonymous. Each state has it’s own rules on that. They believe it adds to the integrity of the lottery. I agree, and most financial advisers will advise you to “tell no one” about your winnings except for close family and friends...The minute you open your mouth you are in for a world of hurt. They even advise you to move because your old residence will become a hunting ground for your money.
Oh lookie here: OFFICIAL WARNS ILLINOIS FINANCES IN ‘MASSIVE CRISIS MODE’
No, it could be how the payments are made.
Some years ago, Tennessee had a budget impasse.
All the DMV offices were closed. Every person who came in paid at least $25. There was no way they were losing money. However, revenues were divorced from expenditures, and the state could not make any expenditures.
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