Posted on 03/28/2005 8:29:33 AM PST by bedolido
BOISE, Idaho - Someone donated a $30,000 winning lottery ticket to the Idaho Foodbank.
The ticket was tucked inside an envelope without a return address Wednesday, Foodbank Director Roger Simon says.
Idaho Lottery officials say it's first time they know of someone donating the entire amount of a winning ticket to a charitable organization.
The Foodbank will use the money for its children's programs.
The Stinker Station that sold the winning ticket also gave the food bank $300 from the money it got from the commission for selling the winning ticket.
Uhhh.... OK, I'll bite:
What is a Stinker Station ??
gas station witha stupid name and a large skunk as it's symbol. Remember... Idaho still has wild animals roaming it's major cities (criters that is).
God bless this kind soul. We sure could use more good news like this. I remember about ten years ago when some angel sent an instant million dollar winner from a McDonald's promotional game to St. Jude's hospital.
Gas stations in ID. (convience stores/truck stops/rv holding tank dump/etc)
What a great story. And it makes sense. If the guy/gal collected, 1/3 would go to taxes anyway. Good job!
Probably the easiest way to donate it and avoid any tax questions. One mistake and you could end up giving all the money away, plus have a tax liability.
thats what i was thinking. he/she did the right thing.
Someone is really taking the Lord's words in Matthew 6:3 to heart.
Look behind you ....... in your pants.
What is a Stinker Station ??
Back in the days of plentiful gas, an enterprising guy by the name of Farris (aka "Fearless Farris") caught on that refineries would rather sell their gasoline at a lower price than shut down their refineries.
After their contracts with all the distributors were filled, Farris would buy his gas and sell it at a lower price than all the major stations could.
He was nicknamed the "Stinker" for doing that. He liked the nickname and adopted the "sign of the skunk" for his advertising.
Hence, "Stinker Stations."
I can see the IRS trying to find the guy who donated the ticket and taxing him for 1/3 of the money anyways. They'll claim he was the original owner or something.
I don't think so. He never collected it. The Foodbank will collect it. As far as the lottery goes, I don't think they ever check to make sure it's the oginal buyer who collects. Whoever collects, collects. That's why there are always these stories about people who say they dropped a ticket, or lost a ticket and try to claim it. They always lose. It's always the person who has possession of the ticket who prevails.
That's an excellent way to get out of a huge IRS problem. Usually the first party must pay taxes on the winnings, then take a charitable deduction, (ie Uncle Sam takes his cut first.)
What a mensch!
Yeah lotto tickets are like bearer bonds. There is no way to know who bought it, whomever has it is the owner. If you want to protect it, you have to write and sign your name on the back. Few people do that.
Wouldn't the person have benefited more by obtaining the money then donating it? Can the person deduct the value of the ticket without cashing the ticket in?
...in your pants....
you in a bad mood today, eggman?
here, here!!!!!!
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