$1 Million Winning Powerball Ticket Sold at a Publix in The Villages!

[pikeselectric]

Was it you? Hopefully! Here's the Villages News article on it: https://www.**************.com/2023/07/20/powerball-ticket-worth-1-million-sold-in-the-villages/

Wishing everyone another beautiful day in The Villages, From your friends at Pike's Electric :a040:

[Babubhat]

Likely half after tax

[pikeselectric]

Likely half after tax

Unfortunately yes...LOL read the payout info

[JMintzer]

Likely half after tax

https://media2.giphy.com/media/v1.Y2lkPTc5MGI3NjExandhaTEzbnpicGNqM29ucWRrb2k3MDk 3aXY0emIyNGU3cHNnOTNhYyZlcD12MV9naWZzX3NlYXJjaCZjd D1n/HFqr78CF5vVXq/giphy.gif

[justjim]

Good to hear that someone in TV won a big prize in the Powerball lottery. I always consider a lottery ticket a self imposed entertainment tax.

[Rainger99]

Be nice to your neighbors!
They might be the winners!!

[OrangeBlossomBaby]

Florida has no lottery winnings tax, and no state income tax. So you're only on the hook for federal taxes on the winnings. The top federal rate for income is 37% over $500,000. Since they won $1M, that'd mean $370,000 taken out for taxes, leaving them with $630,000 for themselves.

If I won $630,000 I'd have my current house replaced with a newer modular home on the same property, expanded to accommodate the "man cave" that's actually our laundry shed, so it's all properly insulated under one roof instead of separate but attached structures like they are now. That'd set me back around $150,000, including the expansion and plywood sub-floors instead of the composite board that comes with the older models.

With the rest, I'd enjoy more dinners out, return to New England in late August to enjoy the county fairs and festivals and autumn color changes, be back in the Villages before Halloween. I'd probably also buy a miniature chest freezer and stock it with Maine lobster and Hummels hotdogs.

New (used) car, new(ish) golf cart, give my sister some coinage, invest most of the rest, and relax for a couple of years before worrying about our health insurance premiums again.

There's a LOT you can do with $630k. I wouldn't complain if the fed demands a chunk, if I got to keep $630k.

[Babubhat]

A smart person would create a foundation

[OrangeBlossomBaby]

A smart person would create a foundation

Hm - I suppose I could have them create a foundation and put my new modular home on that instead of up on posts like most of them are. But I kind of like the idea that mine's up over ground level.

[bimmertl]

I hope the winner is an illegal landscape guy just to drive everybody on this site insane!

LOL

[OrangeBlossomBaby]

I hope the winner is an illegal landscape guy just to drive everybody on this site insane!

LOL

I was kinda hoping it'd be a transgender heterosexual male NRA instructor who drinks bud lite, wears Nikes, shops at Target, and identifies with shim/sher pronouns.

[Two Bills]

Do the UK Lotto or Euro Millions lottery.
Winner keeps all!

[Remembergoldenrule]

My first hope is that it is a struggling hard working person or struggling senior who really needs the money.

My second hope is that they know how to handle a large sum of money given to them all at once.

Third hope is that if it is someone who is already extremely wealthy that they do set up a foundation to help those struggling.

I read somewhere that most large winners end off worse than they were before due to not knowing how to handle money.

Congratulations to whoever.

[JanetH]

That’s right ! What a blessing 630K would be !

[Two Bills]

$630K is fine, but the thought that government get $370K for nothing hurts.
If government want to share winnings, lottery tickets should be tax deductible.

[Joe C.]

1 million, minus Uncle Sam's share is a decent amount. But IMHO it's just enough to pay off most people's debts and add a few enjoyments to life.

The BIG WINNER in California ...... well that person's life will change drastically. Hopefully that person is wise and not impulsive.

If they take the lump sum, then the winnings total about 550 million minus federal taxes leaves them maybe 275 million. NOW THAT'S SOME SERIOUS MOOLA !!!
Pay off the mortgage, and give the house to some deserving family and get the hell out of California. Take an around the world cruise and when coming back, all the excitement of winning will have simmered down. Then settle down somewhere nice and start donating to worthy causes.

[Battlebasset]

I hope the winner is an illegal landscape guy just to drive everybody on this site insane!

LOL

Well, at least then he would have to pay some taxes for all of the kids he has in the public school system that the rest of us are paying for now.

[Babubhat]

Everyone with substantial assets should have a foundation . And no, little of the money will go for aid. The biggest loophole in the tax code. A left pocket, right pocket transaction

[Kelevision]

Well, at least then he would have to pay some taxes for all of the kids he has in the public school system that the rest of us are paying for now.

Undocumented immigrants pay sales, income and property taxes. In 2021, these households contributed $30.8 billion in total taxes, including $18.6 billion in federal income taxes and $12.2 billion in state and local taxes.

Evidence suggests that at least 50% of undocumented immigrant households file income tax returns using Individual Tax Identification Numbers, which the IRS issues to encourage tax compliance among non-citizens. Even though they pay into Social Security, ITIN holders are not eligible to receive benefits unless they become citizens or lawful permanent residents.

Many undocumented immigrants who do not file income tax returns still have taxes deducted from their paychecks.

( this is for the state of Nevada )

[JMintzer]

Undocumented immigrants pay sales, income and property taxes. In 2021, these households contributed $30.8 billion in total taxes, including $18.6 billion in federal income taxes and $12.2 billion in state and local taxes.

Evidence suggests that at least 50% of undocumented immigrant households file income tax returns using Individual Tax Identification Numbers, which the IRS issues to encourage tax compliance among non-citizens. Even though they pay into Social Security, ITIN holders are not eligible to receive benefits unless they become citizens or lawful permanent residents.

Many undocumented immigrants who do not file income tax returns still have taxes deducted from their paychecks.

( this is for the state of Nevada )

$30.8 Billion is a lot of money... But it begs the question... How much do they cost in taxes?

I know for a fact that many hospitals went bankrupt due to being overwhelmed by providing uncompensated care. Many OB departments closed due to the exorbitant costs involved in taking care of the pregnant women who simply showed up, have zero pre-natal care. And the many docs that were sued when the delivery didn't go as expected...

Seems they are a net drain on the US, according to this article...

"What, if any, are the public and private costs of illegal immigration in the United States? In brief, the article finds that between four and 5.4 million illegal immigrants reside here.... The article also finds that illegal immigrants and their own citizen children cost taxpayers an additional $12 to $16.2 billion annually for education, public services, and incarceration after deducting all local, state, and federal taxes paid in by them..."

The net national costs of illegal immigration into the United States - PubMed (https://pubmed.ncbi.nlm.nih.gov/12291891/)

NBC News cites a higher number, $54 Billion...

"Rector said his 2013 estimate pegged the cost of undocumented immigrants — the cost of services received minus their tax contributions — was about $54 billion a year."

Fact check: How much does illegal immigration cost America? Not nearly as much as Trump claims. (https://www.nbcnews.com/politics/donald-trump/fact-check-how-much-does-illegal-immigration-cost-america-not-n950981)

[Nucky]

A million isn't what it used to be. Congratulations to the person who scored!

The first thing I would buy is one of them fancy Flag Poles from that store on 441 and have them install it. You know the kind with the cord to raise the American Flag on the inside of the pole. I would not move, never again no matter what.

Then I would let the kids know where we moved to. It's been almost 8 years, we should tell them sooner than later. :1rotfl:

[OrangeBlossomBaby]

1 million, minus Uncle Sam's share is a decent amount. But IMHO it's just enough to pay off most people's debts and add a few enjoyments to life.

The BIG WINNER in California ...... well that person's life will change drastically. Hopefully that person is wise and not impulsive.

If they take the lump sum, then the winnings total about 550 million minus federal taxes leaves them maybe 275 million. NOW THAT'S SOME SERIOUS MOOLA !!!
Pay off the mortgage, and give the house to some deserving family and get the hell out of California. Take an around the world cruise and when coming back, all the excitement of winning will have simmered down. Then settle down somewhere nice and start donating to worthy causes.

Heh - "most people" don't have $600,000 debts. That's not reality here in the USA for "most" people. Most people in the USA have debts at or under $100,000.

[Taltarzac725]

It will probably mean one more very fast golf cart to worry about passing me by. Or a fancy sports car in the roundabouts.

[spk7951]

Federal tax for the $1M is 37% but they only take 24% to start with and then hit you for the remaining tax on your next tax return.

[dewilson58]

Federal tax for the $1M is 37% but they only take 24% to start with and then hit you for the remaining tax on your next tax return.

Donate the ticket to a church.

Maybe, quickly establish your own church.