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`lag
Joined: 12/13/1999
Posts: 81,634
Likes: 27,383
`lag
Founder Subscriber

well they will in a sense, right? He'll need to start making payments to

avoid a penalty, that is he probably needs to pay it all now concurrent with the payout. It's probably worse that hey didn't deduct it from the check if he isn't aware of that. ** Edited by `lag at 5/14/2023, 1:44:57 PM
Posted: 05/14/2023 at 01:43 PM ET
(In response to this post by EDGEMAN)

Thread Replies (22)

Full Thread →
Guy I work(ed?) with hit a million dollar scratch off
Coach McGuirk • 05/14/23 07:38 AM ET
Hope it isn't all he has to retire on...Great to augment though.**
HOKIERIT • 05/14/23 11:18 AM ET
After taxes, can he really retire?**
FfxStationHokie • 05/14/23 07:56 AM ET
you would be amazed what people live on outside the US
MrBayAreaHokie • 05/14/23 04:11 PM ET
It depends on how he wants to live
EDGEMAN • 05/14/23 10:07 AM ET
Have multiples of that but still don't feel comfortable :/
FfxStationHokie • 05/14/23 11:20 AM ET
Also depends on what he'd put away before hitting the lottery.
Hokie CPA • 05/14/23 10:41 AM ET
^^This...spoken like a true CPA^^**
HOKIERIT • 05/14/23 11:19 AM ET
He was a banquet captain, and not all that happy about it, haha. So...
Coach McGuirk • 05/14/23 08:01 AM ET
If memory serves Florida has no State income tax...does the State tax the
Tuckahokie • 05/14/23 07:50 AM ET
Don't know that one, but I doubt it. He took the one time $820,000 which
Coach McGuirk • 05/14/23 07:55 AM ET
THATY makes a big difference!!! Good for him.**
HOKIERIT • 05/14/23 11:20 AM ET
He will end up with about $500K**
HokieForever • 05/14/23 08:54 AM ET
Would it be that much?
Fatman • 05/14/23 09:34 AM ET
He won 1 million, but took the lump sum which was 820K
HokieForever • 05/14/23 04:32 PM ET
Surprised the IRS didn't take a chunk "up front"**
EDGEMAN • 05/14/23 07:57 AM ET
well they will in a sense, right? He'll need to start making payments to ◄
`lag • 05/14/23 01:43 PM ET
Generally they take a chunk before the winner gets the payout. That way...
EDGEMAN • 05/14/23 04:24 PM ET
OK, so I'm texting away here with a co-worker. Apparently he bought
Coach McGuirk • 05/14/23 07:47 AM ET
So how do you convince yourself to buy one more than four just in case?**
AZHokie59 • 05/14/23 03:12 PM ET
A $50 lottery ticket? I was POed when they started charging $2 for...
EDGEMAN • 05/14/23 07:43 AM ET
Yeah, that was hard to figure. "Who plays a $50 scratch off??" was my
Coach McGuirk • 05/14/23 07:49 AM ET
Odds of winning are 1 in 4.5, so I guess you have a decent enough shot...
MP4VT2004 • 05/14/23 09:26 AM ET