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korr

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January 17, 2009
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Jan 17, 2009, 2:24 pm

From checking FL rules it looks like I can't accept here even with a trust, as trust beneficiaries must be disclosed.

However I was checking the powerball site and the two nearest states to participate look like Lousiana and S.Carolina. I think in LA the rules are the same as here in FL. In SC though, I see at least one anonymous winner listed. The SC site states that you don't have to be a state resident to purchase a ticket, but that the ticket must be purchased in SC (of course).

So the plan is to drive to SC, buy tickets near the border and drive back. If/when I win, ship a lawyer up to accept anonymously on my behalf and then fly back to FL where I get together with my financial team to work on investments.

Is this possible? Legal?

Thanks!
justxploring

Wandering Aimlessly
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Jan 17, 2009, 2:39 pm

Are you serious? This game has odds of 1 in 195 million. So you would drive all the way to SC to buy a ticket just in case you win when there are lottery retailers in your own back yard? Depending on where you live in Florida, you might spend as much as $100 in gas alone. If you live in Jacksonville it will, of course, be a lot less than if you live in Miami.

Take the gas money and buy 50 more tickets with Powerplay to improve your chances of winning.

Also, why would you want to pay SC state income tax? That doesn't make any sense at all. So, let me see if I understand you. Just to make sure nobody finds out you won a lot of money, you are willing to drive hundreds of miles for a $1 or $2 ticket, then pay the state of SC over $6 million in state income tax even though you are a legal resident of a state where there is no tax.
korr

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Jan 17, 2009, 2:47 pm

Yes, I understand all that. I'm travelling north anyway, it isn't a special trip lol.
justxploring

Wandering Aimlessly
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Jan 17, 2009, 2:49 pm

Quote: Originally posted by korr on Jan 17, 2009
Yes, I understand all that. I'm travelling north anyway, it isn't a special trip lol.

Well, unless I'm mistaken, SC taxes all income, including lottery prizes. Some state do not, but you'd have to check each one individually. I'm pretty sure SC & NC tax lottery winnings. So why would you buy a ticket somewhere other than FL since you always pay tax on income where it is earned, not where you live.
korr

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Jan 17, 2009, 2:56 pm

Guess I'll have to decide if a ~7% cut is worth not being hounded by press/"friends"/criminals/charities.

Assuming it is, I'm still left with my original question.
justxploring

Wandering Aimlessly
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Jan 17, 2009, 3:01 pm

Yes, it is perfectly legal. I've purchased tickets in other states when I've traveled. A lot of members do that if they live close to a state border.

Regarding financial planners, if you are conducting business in SC, they might be required to get a non-resident state license. Since you live in FL, that might not be necessary. I have no idea because, as I already wrote, I would tell a client he's nuts. Anyway, if a product is sold in a particular state, then the financial planner has to pay income tax in that state. I don't know why you would fly people to another state. You can get the same financial advice in Florida no matter where you win.

I can't believe anyone in his or her right mind would pay over $6 million in state income tax when there is no guarantee your "secret" won't get out. I mean, how did you suddenly get that new, large house? Where did that luxury car come from? I think I'd rather people know than imagine I'm dealing drugs or running a prostitution ring. LOL Seriously, unless you are planning to disappear from the face of the Earth, I can't see how anyone can hide the fact that he just came into a heck of a lot of cash, that is, unless you don't plan to change your lifestyle.
korr

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Jan 17, 2009, 3:03 pm

Tennesse would be an option too... for no state taxes on lottery winnings.
MillionsWanted

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Jan 17, 2009, 3:06 pm

LOL. Worry about how to win first!
korr

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Jan 17, 2009, 3:08 pm

That's easy, just get the winning numbers ;)
korr

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Jan 17, 2009, 3:09 pm

Hmm TN doesn't have the anonymous option it seems... curses.
dopey7719

Columbia, SC
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January 14, 2009
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Jan 17, 2009, 4:01 pm

This is too funny!!! I was born and raised in South Carolina. 7% tax off the top baby....right after the 25% federal taxes. Spend whatever extra cash you have buying more tickets. Besides, if you're traveling North anyway...I'd stop at various different gas stations along the way doing quick picks....but if I could buy a winning ticket in Florida where there is no state tax....I'd prefer doing it there. South Carolina taxes EVERYTHING!!!! Be aware of that.

More importantly.....how do you plan to win? Anyone have any tips, secrets, etc? Hell...I'd be happy with just 4 balls and a white ball right now!!!! Just a little bit would do me good! Let me know what to do....quick picks haven't done me any favors!!! BTW...I'm planning on spending 25.00 (a lot for me)....how much is everyone else planning on spending?

Good Luck!!!!
Coin Toss

Zeta Reticuli Star System
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Jan 17, 2009, 5:47 pm

Quote: Originally posted by korr on Jan 17, 2009
From checking FL rules it looks like I can't accept here even with a trust, as trust beneficiaries must be disclosed.

However I was checking the powerball site and the two nearest states to participate look like Lousiana and S.Carolina. I think in LA the rules are the same as here in FL. In SC though, I see at least one anonymous winner listed. The SC site states that you don't have to be a state resident to purchase a ticket, but that the ticket must be purchased in SC (of course).

So the plan is to drive to SC, buy tickets near the border and drive back. If/when I win, ship a lawyer up to accept anonymously on my behalf and then fly back to FL where I get together with my financial team to work on investments.

Is this possible? Legal?

Thanks!

korr

If you're serious in assuming you are going to wind a Powerball jackpot you need a shrink a lot more than you do a lawyer.

Bark of bitter tree tastes good to hungry squirrel, sure, but be real.

Good Luck, and it is all luck.

Those who run the lotteries love it when players look for consistency in something that's designed not to have any. So many systems, so many theories, so few jackpot winners.

There is one and only one 'proven' system, and that is to book the action. No matter the game, let the players pick their own losers.
justxploring

Wandering Aimlessly
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Jan 17, 2009, 5:56 pm

I have a question. 7% of $96.9 million is about $6.7 million. Wouldn't it be easier to just give away some of your money to nagging relatives?
bogeytrain

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Jan 17, 2009, 5:58 pm

With respect to the original post, I say go for it...I live next to a state that allows the winner to remain anonymous, so sometimes I'll drive across the border to play for this reason. Sure, it's a bit of gas and time, but it's actually something I really enjoy (gives me plenty of time to brainstorm on how I will spend my winnings!). By the way, I always use the multi-draw option so I can play the same set of numbers for 15 draws. I find this to work really well, as I don't have to worry about buying tickets every draw.

Here's some useful info from the powerball site if you haven't already read it:

"All but three states (DE, KS, ND) have laws that require the lottery torelease the name and city of residence to anyone who asks. One state(SC) will keep your name secret if you request it, but if someone filesa Freedom of Information Act request, you may have to file a plea withthe judge to deny it. Another state (OK) now has a law that allows youto claim in a trust and to keep your name from the press (though thelottery will run checks on you). Photos and press conferences arealways up to you. Most of the time, it is advisable to get it over withthe press so that you don't have one or more reporters following youaround to get that "exclusive" interview. A few more lotteries may workwith you on setting up a trust or other partnership. You or yourrepresentative should contact the lottery for the details after youwin."

Best of luck...let us know when you hit the big one!
justxploring

Wandering Aimlessly
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Jan 17, 2009, 6:22 pm

When did SC become a border state with FL? Did GA move?