Whether you’re playing the keluaran sgp hari ini, or simply enjoying the thrill of watching the numbers roll, there are a few things you should know. For starters, there are taxation concerns and scams.
Powerball
Besides Mega Millions, Powerball is probably the best-known lottery game in the United States. It is a five-ball drawing game, which can be played in most US states. The Powerball drawing takes place every Wednesday at 10:59 p.m.
It costs two dollars to play and offers nine prize tiers. The jackpot prize is usually worth millions of dollars. If you win, you must claim the prize within 90 days. The minimum jackpot is $40 million. It is not difficult to win, but you need to know how to choose your numbers to increase your chances.
The Powerball jackpot has grown over the years, with the January 2016 drawing being the largest in the game’s history. It is also the fourth largest in the history of the lottery. In order to win, you need to match three of the white balls and one of the red ones.
Mega Millions
Known as one of the largest lotteries in the United States, Mega Millions is sold in 45 states. Tickets are also available in the US Virgin Islands and District of Columbia.
Mega Millions jackpots run into hundreds of millions of dollars. When the jackpot is over $1 billion, the jackpot is paid out as an annuity, which means that the prize is paid out in annual installments over a period of 29 years. A Mega Millions jackpot winner can choose to receive the prize in an annuity or cash. Depending on the winner’s personal circumstances, the amount of money that comes home can vary.
Taxes on winnings
Depending on your state, the amount of tax on lottery winnings you will owe may be a bit of a surprise. However, there are ways to minimize the tax impact of winning a big prize. The amount of tax you will owe will be a function of the amount you win, your state of residence, and the type of payout you choose.
Aside from the IRS, state and city governments will likely tax your winnings. Depending on your state, the taxes you pay will be a combination of federal, state, and local income taxes.
Having a large lump sum payout could place you in a higher tax bracket, making the amount of tax you owe higher. You can delay paying taxes by choosing to take the winnings in installments.
Scams
Several different lottery scams exist. These scams are often designed to convince the victim to send money or give out personal information. Typically, lottery scams are targeted at older adults, as well as individuals who have already been victimized in the past.
Scammers usually pretend to be either a government official, a lawyer, or a lawyer representing a lottery company. These people may then request that the victim send money to cover taxes, customs fees, or other fees.
Scammers will also attempt to extort the victim by threatening to report them to the authorities if they don’t send money. This is called blackmail.