![]() The Lottery encourages all players to seek financial advice before claiming a large jackpot prize.Īs with all claims, the names of those receiving prize funds and their city of residence is public record. When claiming a prize as a legal entity, the legal document organizing the entity must list the name of each member of the group, their city of residence, and the portion of the prize each person will receive. This simplifies the tax reporting and prize distribution for a group of people receiving payments over an extended time. While it is not necessary for a group of people to form a legal entity to claim the cash option, the Lottery asks a group of winners to form a legal entity with an assigned tax identification number for a jackpot prize paid in annual installments. The group members must decide on one payment option it is not possible for some group members to take the cash option and others to choose the annuity. The next drawing is on Wednesday, July 19. The drawings are also livestreamed online at. ET from the Florida Lottery draw studio in Tallahassee. The Powerball or Mega Millions jackpot prize may be paid in the annuity payment format or the single payment cash option. Powerball drawings are broadcast live every Monday, Wednesday and Saturday at 10:59 p.m. The Federal Form 5754 allows the Lottery to send a separate W-2G tax form to each individual winner noting the amount won and withheld on their behalf. The person receiving the check for the group also provides picture identification and is responsible for distributing the winnings to the group members.įor a prize paid in a single payment, the check recipient may choose to complete a Federal Form 5754 that ensures the tax obligation of the prize is distributed among the group members according to the gross prize amount of each person’s share. Each member of the group provides a completed IRS Form W-9 for tax reporting purposes at the time of the claim. The prize check is issued to either one person or legal entity (partnership, trust, etc.). The prize on a winning lottery ticket may be split among a group of ticket owners however only one prize check is issued. $50 million (Jackpot split among three winning tickets sold in Louisiana, Florida and Delaware) 5.Since joining the multistate game in March 1995, Louisiana has had a total of 17 Powerball jackpot winners. ![]() The next Powerball drawing will be on Saturday, Nov. Powerball numbers are drawn on Mondays, Wednesdays and Saturdays at 10:59 p.m. Your odds of matching all five numbers plus the red Powerball are approximately 1 in 292 million. A Mega Millions ticket sold in Novi matched all six numbers drawn Jan. The huge jackpot comes less than two years after another lottery reached the $1 billion mark. No one has hit all six numbers since Aug. Monday's winning numbers were: 13, 19, 36, 39, 59 and red Powerball 13. Drawings are every Monday, Wednesday and Saturday at 7:59 p.m. While Monday's drawing named no jackpot winner, 5.4 million tickets won cash prizes totaling $59.5 million, Powerball officials said. The biggest prize was a $1.586 billion Powerball jackpot claimed by winners in California, Florida and Tennessee in January 2016, according to Powerball. ![]() Wednesday's drawing is Powerball's largest prize in more than six years. Peak sales were from 4 -7:45 p.m., when player purchases at retail averaged more than 519,000 tickets per hour," Michigan Lottery officials said Wednesday. "On average, players have been purchasing more than 250,000 tickets per hour at retailers. In Michigan, players purchased nearly 5 million tickets for tonight's drawing, with more than 3.5 million of those tickets purchased today, according to the Michigan Lottery. Powerball said Wednesday's drawing, which has an estimated cash value of $596.7 million, is the second-largest jackpot in Powerball's 30-year history and the fourth-largest jackpot in U.S. The winning numbers in Wednesday night's drawing for a $1.2 billion jackpot were: 22, 11, 60, 2, 35 and red Powerball 23. ![]()
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