Yep it varies w interest rates. Also, in Ye Olden Dayes it was a 20 year annuity. Now it’s 30.
Also it’s a rising annuity not a flat-line. They claim that’s to offset assumed inflation. But it just happens to have the side effect of flattering the annuity total amount vs. the cash amount. How convenient … for them.
That’s probably a lot of it as PV is closer to payout the short the time period involved. Any idea when how long ago it changed?
The problem is that in most States the name of the winners are made public. Most likely no one would happen to find out unless you won one of the gigantic ones.
Set up a “legal entity” to accept it on your behalf. Something you’d need to set up with a lawyer, but that’s what lawyers are for and if you can keep a lid on your impatience and wait a couple months to claim it you can insulate yourself to a greater or lesser degree.
In some states only a person or group can claim the lottery.
Ah, but I don’t live in one of those states…
I first became aware of Powerball in 1994 when I moved from Las Vegas to a state that had it. At that time tickets were $1, the annuity was 20 years, and IIRC there was 1 weekly draw.
Other than that one data point I have no clue.
I was under the impression that a trust was a legal entity & that it could be claimed in the name of a trust.
I am neither a lawyer or that well versed in the lottery claim rules in every state.
In about half of the States you can’t do this.
Edit: I just looked it up
22 States you can’t be anonymous
22 States you can
2 States you partially can (no idea what that means)
5 States don’t have a lottery
But does not being anonymous mean they say that the ___ Trust won the prize? Could I make it trust or family trust & then you really wouldn’t know for certain it’s me. (I don’t have that unique a surname)
Not anonymous means no trust. Your legal name is known.
I think ideally they want the winner to stand up on camera holding the giant check.
Historically it was about showing the customers that the winners were real people, not some secret insiders who often won because the game was rigged.
Ah, such innocent times.
A couple of years ago, someone in South Carolina won a Mega Millions jackpot of $1.5 billion (not the biggest but among them) and remained anonymous because the state allowed it. Now, if I won a giant amount like that, I’d also like to remain anonymous but only some states allow for it.
I’m disappointed none of you spotted my math error. It’s 21 States where you can
I thought not anonymous means they published the winner’s name, whether you want it published or not. If the winner happened to be a trust, that was the name that they published.
In a non-anonymous state the name is publicly available. I suspect you look it up on their web page. The big winners appear at a press conference but they can decline to answer questions. You can’t hide behind a trust. The giant winners hire security.
So assuming I’ll retire anyways, It makes sense for me if I take home $200M to quickly move 100 mi north to Wyoming then cash in my ticket. I’d save $9M in state taxes. That’s assuming you’re taxed on where you live and not where you bought the ticket.
The taxation and the anonymity are where you buy the ticket. That’s where the gain was earned.
I knew there was a reason to live in Florida!