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Old Yesterday, 05:39 PM
 
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Payout will be around $877 million after taxes.


South Carolina allows lottery winners to claim anonymously so we shall never know the identity of lucky person. That is unless they themselves choose to make it known.


https://www.nbcnews.com/news/us-news...-comes-n979156
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Old Yesterday, 05:50 PM
 
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The SC legislature was about to meet to have to redo the budget to exclude the $62 million in taxes they will get from the winner.. I believe the number was half a percent of the total budget.
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Old Yesterday, 06:00 PM
 
19,384 posts, read 12,691,110 times
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Quote:
Originally Posted by Labonte18 View Post
The SC legislature was about to meet to have to redo the budget to exclude the $62 million in taxes they will get from the winner.. I believe the number was half a percent of the total budget.
Yes, that potential loss of revenue for SC generated the most media noise. Still wonder why the winner took so long to come forward. They certainly cut things very close.
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Old Yesterday, 06:29 PM
 
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Originally Posted by BugsyPal View Post
Yes, that potential loss of revenue for SC generated the most media noise. Still wonder why the winner took so long to come forward. They certainly cut things very close.
Only thing I can think of is that the winner consulted a lawyer and financial advisers, and they said just wait a while and let the hype go away, then claim, and during this time, they set up everything and a way for the winner to simply just fade away, take care of things, etc, issues getting this much money would impact.
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Old Yesterday, 06:33 PM
 
Location: Swiftwater, PA
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Quote:
Originally Posted by BugsyPal View Post
Yes, that potential loss of revenue for SC generated the most media noise. Still wonder why the winner took so long to come forward. They certainly cut things very close.
Considering the fate of past winners, if the person was smart; they would be very careful when they did collect. I think that I would want a security force, good lawyers and financial advisors. I would also want a good personal game plan so that I could enjoy that money for a very long time.

Too many times we have heard stories of rags to riches and then back to rags again: https://www.thepennyhoarder.com/smar...o-lost-it-all/.
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Old Yesterday, 09:41 PM
 
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Originally Posted by fisheye View Post
Considering the fate of past winners, if the person was smart; they would be very careful when they did collect. I think that I would want a security force, good lawyers and financial advisors. I would also want a good personal game plan so that I could enjoy that money for a very long time.

Too many times we have heard stories of rags to riches and then back to rags again: https://www.thepennyhoarder.com/smar...o-lost-it-all/.

This guy is going to have somewhere around half a billion dollars.


I don't think there's any way he can blow it all, even if he's 18. There's just not enough time.

The rumor running around town was that the winner was a young guy who worked at ZF Transmissions.. I think that's most likely not true.. But.. He can remain anonymous, and is smart for doing so.
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Old Yesterday, 09:50 PM
 
Location: Caverns measureless to man...
6,984 posts, read 4,424,033 times
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Quote:
Originally Posted by BugsyPal View Post
Payout will be around $877 million after taxes.


South Carolina allows lottery winners to claim anonymously so we shall never know the identity of lucky person. That is unless they themselves choose to make it known.
It won't be a secret for long. It's South Carolina - just look to see who suddenly has a shiny new set of plaster 7 Dwarves in front of the trailer, or a brand new washer and drier on the porch.
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Old Yesterday, 09:54 PM
 
4,742 posts, read 1,941,648 times
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Originally Posted by boxus View Post
Only thing I can think of is that the winner consulted a lawyer and financial advisers, and they said just wait a while and let the hype go away, then claim, and during this time, they set up everything and a way for the winner to simply just fade away, take care of things, etc, issues getting this much money would impact.

One possible answer is that the winner wanted to not collect in 2018, choosing to take advantage of changes to the tax laws that took effect in 2019.


OR he might have filed for an economic citizenship elsewhere. For example, if you buy $1.5 million in New Zealand bonds, you can go live there. But it takes time for the paperwork to go through, and the guy might have been biding his time.

Last edited by MinivanDriver; Yesterday at 10:05 PM..
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Old Yesterday, 11:15 PM
 
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I dont think they should be taxing lottery winnings like this. I know most states do, but there a few that do not, its interesting why those states have chosen not to as well.
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Old Today, 12:54 AM
 
3,265 posts, read 1,330,158 times
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Quote:
Originally Posted by BugsyPal View Post
Payout will be around $877 million after taxes.


South Carolina allows lottery winners to claim anonymously so we shall never know the identity of lucky person. That is unless they themselves choose to make it known.


https://www.nbcnews.com/news/us-news...-comes-n979156
The $877 mil is before tax. (It's the NPV of the 30 payouts if you take the yearly check.) Taxes will take about 31% of that. After tax will be about $605 mil.
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