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$1 milly lotto ticket winner opts for one-time payout



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topics gone triple plat - Number 1 spot 3X PLAT section wild 'ish
  
 1 month ago '19        #1
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unit321  topics gone triple plat - Number 1 spot x16
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$1 milly lotto ticket winner opts for one-time payout
 

 
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A Louisa County man’s lottery ticket habit is paying off.

Virginia Lottery says John Bevard picked up an Extreme Millions ticket at the Gulf Express on Davis Highway in Mineral. There, he discovered he won $1 million dollars.

Bevard opted for the one-time cash option of $657,030 before taxes. The store receives a $10,000 bonus from the Virginia Lottery for selling the winning ticket.

visit this link https://www.nbc12.com/202 .. lottery-prize/


Man, that's not too bad. $647,030 before taxes is like around $225,556 in federal and state tax so he'll net around $421,474.
+64   



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148 comments
 

 1 month ago '06        #2
composure23 
Props total: 1385 1 K  Slaps total: 100 100
One time payout is how I'd do it. Never know how things will play out.
+198   

 1 month ago '16        #3
NoLvstName  topics gone triple plat - Number 1 spot x25
Props total: 77887 77 K  Slaps total: 7626 7 K
I always found it wild how they take a 3rd off top then tax you again

657k before taxes is criminal
+386   

 1 month ago '14        #4
strungout  topics gone triple plat - Number 1 spot x3
Props total: 145521 145 K  Slaps total: 33733 33 K
He is a fool , a fool i say !!!!!

 1 month ago '19        #5
GetYaCoinsKing  topics gone triple plat - Number 1 spot x1
Props total: 43651 43 K  Slaps total: 7755 7 K
 NoLvstName said
I always found it wild how they take a 3rd off top then tax you again

657k before taxes is criminal
Facts, Taking taxes from lottery gains; Then again i could see why, Imagine if you or me setup a laundering operation using a fake lottery company.
+38   

 1 month ago '04        #6
franchise  topics gone triple plat - Number 1 spot x3
Props total: 11729 11 K  Slaps total: 1020 1 K
 unit321 said




Man, that's not too bad. $647,030 before taxes is like around $225,556 in federal and state tax so he'll net around $421,474.

Federal Lottery Tax is 25%


Virginia Lottery Tax is 4%
+28   

 1 month ago '04        #7
franchise  topics gone triple plat - Number 1 spot x3
Props total: 11729 11 K  Slaps total: 1020 1 K
 NoLvstName said
I always found it wild how they take a 3rd off top then tax you again

657k before taxes is criminal

Lotterys are backed by bonds that take 20-30 years to mature


If you take the lump sum you forfeiting all the interest from the long term bond that you'd gain instead.


Then yeah you get taxed - - - better work on a good refund tho
+61   

 1 month ago '19        #8
unit321  topics gone triple plat - Number 1 spot x16 OP
Props total: 38613 38 K  Slaps total: 8411 8 K
 NoLvstName said
I always found it wild how they take a 3rd off top then tax you again

657k before taxes is criminal
Yeah. He could take the entire million in installments for 30 years. It would be around 10-ish years before he doesn't have to worry.
+7   

 1 month ago '16        #9
Hoggystyle  topics gone triple plat - Number 1 spot x7
Props total: 74886 74 K  Slaps total: 8353 8 K
The lotto basically a pyramid scheme with the govt always coming out on top
+63   

 1 month ago '08        #10
Chedda  topics gone triple plat - Number 1 spot x5
Props total: 70452 70 K  Slaps total: 3512 3 K
 composure23 said
One time payout is how I'd do it. Never know how things will play out.
Exactly. Plus, if you die your family do not get the remainder of the payments if you choose 20 year plan.
+60   

 1 month ago '09        #11
messy marv stan  topics gone triple plat - Number 1 spot x68
Props total: 230394 230 K  Slaps total: 25871 25 K
 NoLvstName said
I always found it wild how they take a 3rd off top then tax you again

657k before taxes is criminal

uncle sam be taxin any way it can
+23   

 1 month ago '06        #12
vinceisallin 
Props total: 5837 5 K  Slaps total: 1298 1 K
Lotto is the poor mans tax, the government is the real winner
+26   

 1 month ago '08        #13
AC_89  topics gone triple plat - Number 1 spot x7
Props total: 68151 68 K  Slaps total: 3648 3 K
@
+11   

 1 month ago '16        #14
LeastLoved 
Props total: 7768 7 K  Slaps total: 1386 1 K
 Hoggystyle said
The lotto basically a pyramid scheme with the govt always coming out on top


What’s next you’re gonna tell me casinos aren’t made for us to win???
+46   

 1 month ago '15        #15
TrillTalk520  topics gone triple plat - Number 1 spot x1
Props total: 36469 36 K  Slaps total: 2518 2 K
 NoLvstName said
I always found it wild how they take a 3rd off top then tax you again

657k before taxes is criminal
That was gna be my question like i thought the 600k was already taxes taken out. That sh*t is so fu*kin lame n anyone who says oh at least he won, na shut up bi*ch! fu*k that dont gimme no fu*kin million dollar check n then pay me half of that sh*t fu*kin clowns lol


Last edited by TrillTalk520; 06-17-2021 at 05:20 PM..
+23   

 1 month ago '15        #16
voltron 
Props total: 1980 1 K  Slaps total: 111 111
A dollar today is worth more than a dollar tomorrow.

+79   

 1 month ago '16        #17
DeadPresident  topics gone triple plat - Number 1 spot x2
Props total: 6490 6 K  Slaps total: 1454 1 K
 Chedda said
Exactly. Plus, if you die your family do not get the remainder of the payments if you choose 20 year plan.
Oh shxt never knew that
+11   

 1 month ago '18        #18
Doit 
Props total: 2624 2 K  Slaps total: 41 41
This is legal robbery!!!



But at the end of the day it's $421,474 he didn't have yesterday.

Plus if your smart, you can make that money back.

+47   

 1 month ago '17        #19
SupremeBeing5  topics gone triple plat - Number 1 spot x2
Props total: 17426 17 K  Slaps total: 5256 5 K
You’re suppose to take the lump sum d*ckheads.

He got 400k, he’s good now. He can start investing and create another income source.
+46   

 1 month ago '10        #20
kawgre12  topics gone triple plat - Number 1 spot x9
Props total: 36082 36 K  Slaps total: 2130 2 K
 NoLvstName said
I always found it wild how they take a 3rd off top then tax you again

657k before taxes is criminal
I didn't even realize that sh*t, I thought dude was walking away with the 600k after they took all the taxes
+17   

 1 month ago '11        #21
QB Eagles  topics gone triple plat - Number 1 spot x1
Props total: 19213 19 K  Slaps total: 4740 4 K
With the rate of inflation how can you be mad at this?
+20   

 1 month ago '06        #22
Bilal  topics gone triple plat - Number 1 spot x11
Props total: 151413 151 K  Slaps total: 16531 16 K
[email changed - confirm acct by email]
One time pay out for sure is the way to go this world is fu*ked and I'm throwing that money into investments and property.
+29   

 1 month ago '16        #23
Elijah123  topics gone triple plat - Number 1 spot x2
Props total: 1887 1 K  Slaps total: 366 366
 franchise said
Lotterys are backed by bonds that take 20-30 years to mature


If you take the lump sum you forfeiting all the interest from the long term bond that you'd gain instead.


Then yeah you get taxed - - - better work on a good refund tho

So is it better to not go lump sum?
+4   

 1 month ago '04        #24
Cali 
Props total: 1790 1 K  Slaps total: 189 189
wonder what the monthly payment wouldve been. Lump sum in most cases is the best way to go.
+6   

 1 month ago '08        #25
Chedda  topics gone triple plat - Number 1 spot x5
Props total: 70452 70 K  Slaps total: 3512 3 K
 DeadPresident said
Oh shxt never knew that
Yup
+1   



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