The One Lottery Law Most New Yorkers Don’t Know About
Well, that run finally ended. The Powerball, which hadn't been won since July, has been won by someone in the State of California. Go figure. It took 35 drawings for someone to get the numbers correct. This is the second largest sum to be won with the Powerball.
This lucky person won the $1.76 billion jackpot. Of course, after taxes, the take-home winnings won't be that much, but still more than anyone would ever need in their lifetime.
And I have to ask, is all the possible trouble it can cause, worth it? We've certainly heard about horrible stores from those who won big and it didn't fare well in the end for various reasons. And the constant begging for money from family, friends, and strangers is endless. Eh, I'd take a chance anyway.
Powerball winners from 18 states can remain anonymous, while the other participating states make your name public, including New York and Pennsylvania.
Did you know New York State was among the first to have a lottery? According to the website Find Law, the New York State lottery began in 1967, after 60 percent of voters approved it a year earlier.
In New York State, if your lottery winnings are $600 or over, you have to pay taxes on it. Here's something you may not be aware of. For any person who wins $600 or more in the lottery, who is behind on alimony or child support payments, the state could take what you owe, out of your winnings.
On prizes over $600, applied against past-due support (including alimony, child or spousal support or maintenance) and against any public assistance benefits given an individual within the last 10 years (not to exceed 50% of prize.)
So, if you win and you owe, the state will be knocking on your door (well, not literally.) And by the way, the law also states that if any lottery winnings are co-owned by a husband and wife, any assignment of the prize must be made jointly. So, don't try to hide it. Not that you would!
So, the Powerball is down to a measly $20 million for the next drawing. Jeez, I don't know if I could live off that little amount of money if I won, but I suppose I could try...lol!
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