Mega Millions

Tech

Active Member
The $1.5B jackpot still unclaimed.

State states there's a winning ticket. It goes unclaimed, jackpot returned to the states' general funds.
 

Clem72

Active Member
Probably not claimed yet because the winner is setting up an LLC in Delaware or something to claim the ticket. Keep identity private, allow access to funds without gift taxes, and avoid "income" tax.
 

Booboo3604

Active Member
I also read somewhere that by the person waiting until after the new year to claim the ticket, they will not owe taxes on the money until April 2020 rather than April 2019. By holding out, this person can earn millions of dollars just investing that money or collecting interest for 18 months before having to pay it out to taxes in April 2020.
 
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PeoplesElbow

Well-Known Member
I would have moved to a State without income tax, and or a state that does NOT tax lottery winnings
I believe the state in which the ticket is sold can tax the winnings as well as your home state, sort of like a state where a football player plays an away game can tax his earnings for that game.
 

TCROW

Active Member
I also read somewhere that by the person waiting until after the new year to claim the ticket, they will not owe taxes on the money until April 2020 rather than April 2019. By holding out, this person can earn millions of dollars just investing that money or collecting interest for 18 months before having to pay it out to taxes in April 2020.
Fed and state taxes are withheld at payout over a certain amount.

Source: I have won a lottery. Not a lot, not even 5 figures, but above the threshold for automatic withholding.
 
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