No Winner in Powerball Lottery, Jackpot Now Estimated $675 Million

ABC News ^ | 01-07-2016 | KELLY STEVENSON JULIA JACOBO

[Vinnie]

Found the info online. Thanks
I Won! Just enough to buy 2 tickets for the Saturday drawing.

[Dr. Sivana]

1) A money manager

2) A politician

Could you buy me a seat somewhere? I'd be happy to be a bought and paid for politician if my benefactor were a typical freeper.

[Bloody Sam Roberts]

I think my first decision would be not to make any decisions.

Yet, you've still made one decision.

[Cletus.D.Yokel]

JimRob could use a few bucks from the next FR-winner.

[TomGuy]

Sadly most states require the winners to be identified.

In the early 1990s, a winner of the Texas Lotto challenged his name being released. He won. The court sided with him, even though the state policy was that winners' names would be revealed.

[varina davis]

I would make my kids wealthy for life and then buy an uncharted island in the south pacific for my get-away place.

[painter]

If I win I'll buy one of those and put it on Lake of the Ozarks.

That is a local joke.

[yawningotter]

I would buy lots of things that go bang. Of course, buying a Powerball ticket in Alabama is just a wee bit difficult.

[painter]

That is good to know.

[Lorianne]

Forget it then. I can’t live on that

[Jonty30]

3. A moving trailer to leave the state you’re in.

[AppyPappy]

There actually were winners, they just didn’t win the big prize.

[wita]

Three percent is a safer bet, and still well worth your time and effort setting up such a program. Good luck. I don’t think I’ll be buying.

[Bloody Sam Roberts]

Well, yeah. You're right.

So now, the exercise is to define the word "win". When I say 'lottery', who thinks of a $4 payout?

[Jonty30]

My lottery corporation allows one to wear a disguise when being presented the cheque, after they have confirmed your win and identity.

[Jumper]

The occasional same might be said about the winner....

[Salgak]

First, you wouldn’t get half a billion. That’s the annuity value, not the lump sum.

Lump is ~$420 mill, pre-tax. Depending on what state you live in, the amount AFTER taxes will be ~$230 million or less. Still, nothing to complain about, you just paid for Obama’s vacations, 2-3 times. . .

[zeugma]

OK, so here's what will happen. I buy a ticket and win $675 million dollars. Next day, the supervolcano at Yellowstone mentioned in the thread above this one explodes, killing the entire country.

Sorry, but for the sake of us all, I just can't do it.

[aMorePerfectUnion]

Form non-public, LLC as a disregarded entity for tax purposes
Use state that does not tax lottery winnings
Transfer ticket to LLC at cost - $2
Hire attorney to redeem ticket on behalf of LLC to avoid publicity
Pay all taxes to Feds
Form Cook Islands Trust
Transfer LLC to Trust
Hire yourself as manager of LLC
Pay yourself as manager
If you choose to live offshore, take advantage of Foreign Earned a income Exclusion.
Establish 10 year non-habitual tax residency in Portugal
Do all with legal and tax advice

We can dream...

[TomGuy]

Already for Saturday — $700 million — per ABC Radio News.

[It will be nearing $1 billion by Saturday evening.]