Posted on 07/20/2023 7:54:10 AM PDT by Red Badger
I don't know what it feels like to win this much money. I imagine it feels, you know, pretty stinkin' good.
A Powerball player in California won the massive $1.08 billion jackpot, the lottery game's third-largest prize, Wednesday night.
The winning numbers were 7, 10, 11, 13, 24, and the red Powerball 24.
Hey! I was going to pick those numbers myself! I knew those would be the ones!
Well maybe I'll play them next time. In any event, this lucky guy — or gal — will be allowed to take the $1 billion sum as a gradual payout or else take a lump sum of $550 million. Pretty sure you're going to keep the lights on either choice you make.
(Although this is California we're talking about...)
The winner, meanwhile, will be subject to anywhere from 24% to 37% in federal income tax withholding, depending on which choice he makes.
Notably, California doesn't tax lottery winnings, though the state may still be able to get its hands on that money via income taxes or other avenues.
Even if I had to move out in the middle of the night.
they are going to have family members reach out ( that they’ve never met) i hope they remain anonymous
Is this your way of telling me I didn’t win?
It doesn’t soften the blow.
The individual will NOT get 1.08 billion. Arrgh, this stuff never ends.
He will be so happy to pay the taxes on it and give the remainder to the California government for its exit tax.
And baby mamas (that they never screwed).
Anonymous or not, people have a way of figuring it out. You'll need a team of legal and financial experts to help navigate this windfall and guess what? They're going to steal from you as well.
Not just family........as I understand it due to state disclosure laws, lotto winners cannot remain anonymous in California.
Sorry but of course it was California and probably sold in a blue district. I’ve read enough about lotteries and algorithms and how in states where a lot of the ticket sales go to the schools, and their budgets don’t show where the money goes, just administration. Rigged.
That’s what a black woman from the Bronx or Brooklyn did. She went down to claim her ticket in a U-Haul and was gone when she made all the arrangements. She won $120 million, as I recall.
In CA? Probably an illegal! Those are the ones that usually win. I sometimes wonder if the Powerball machines are rigged too…nowadays anything is corruptly possible.
“The state of California does not permit lottery winners to hide their identities. California winners are compelled by law to reveal their names and locations.”
Unbelievable. SMH
I’ve noticed that as well, the majority of “winners” are in California
Sorry, Charlie...................
Not sure what you're getting at, but the taxes would be levied based on where the ticket was purchased and your residence at the time of purchase. California doesn't tax lottery winnings, so there is no advantage there. Except to be gone from California.
California is the winner’s partner ,LOL
Lottery winnings are exempt from state taxes in California.
You would need to spend the rest of your life dodging scam artists. Long lost friends and family will suddenly try to contact you with their hard-luck stories. No matter how generous you are to your friends and family, it will never be enough, and they will talk behind your back about how "stingy" you are and how you've "changed" for the worse since your good fortune.
There is a fellow employee of mine who won a multi-million jackpot some years ago - it was $5 million scratch ticket. More like $2.5 million after taxes.
Believe it or not, he is still working with the company because he has his head on straight and used most of the money to pay off his house, setup trusts for the education of his children and nieces/nephews, etc. Other than a few splurges for himself, he banked the rest.
However, most of his family won't talk to him. It is as if they are enraged that he is being so sensible with his winnings. His fellow employees gave him grief for not quitting his job. He actually had to transfer out of state to get away from them (which made me his manager as he came to my area).
For years, I never once spoke to him about his jackpot. I figured it was his business and any mention of it on my part would make him think I had an angle.
About a year ago, he finally brought it up to me and said that he really appreciated the fact that I never once brought it up. Virtually everybody else he deals with is always asking him about it and it really annoys him because it is obvious that they either jealous or trying to get a piece of it out of him.
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