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That's a lot of tax. Bull they took that much.
...88 million....dude's gonna have a lot of new friends....
PIERRE, S.D. (AP) — A 23-year-old rancher whose family has fallen behind in their taxes and recently had a mobile home repossessed claimed a $232.1 million Powerball jackpot on Friday, one of the largest undivided jackpots in U.S. lottery history. Neal Wanless, who lives on his family's 320-acre ranch near Mission, S.D., bought the winning ticket in the nearby town of Winner (price-less) late last month during a trip to buy livestock feed. He will take home $88.5 million in a lump sum payment after taxes are deducted.
Wanless, who did not speak publicly about the win until Friday, spoke for only a couple of minutes at a ceremony Friday, reading a prepared statement. He was wearing a big black cowboy hat and had a huge grin on his face during the brief ceremony. "I want to thank the Lord for giving me this opportunity and blessing me with this great fortune. I will not squander it," he said.
Wanless said he intends to use the money to help those in need. "My family has been helped by the community and I intend to repay that help many times over." He told lottery officials that since winning, he has spent his time preparing to bale hay and doing other jobs around his family's ranch.
Wanless said he intends to continue ranching, albeit on a larger plot of land. He said he recently told his horse, Eleanor, that "It'd be nice if we go for a longer ride than usual on a bigger ranch of our own.
Yeah, Laugh all you want, but this dude could probably get you some killer shrooms, booze and hookers..
That's a lot of tax. Bull they took that much.
Well, taxes and the lottery ponzi scheme....you see, they don't really have $235 million to give him so they accrue it over a few years which you only get a percentage of if you take the lump sum.....
Oh STFU!!!!
That's $235 million over 20 years. The difference between the present value of the asset and its future worth (due to interest) is probably the biggest part of the difference between the $88M lump sum and the $235M advertised jackpot.
laying 3-1 this dude is broke again in 10 years.
Quote:"..but it was a of a ride!'
I'll take that bet, Dan. Whatever amount you want.
Did you read the article? Dude is baling hay and making plans with his horse...
I've met a few South Dakotans, and this guy sounds like the type. Don't misunderestimate the square, uber-sensible, outwardly impassive midwestern culture parodied in Fargo. It's for real.
yeah... you figure 8 million (10%) to his church. another 10 million total on land/house/horse stables/whatever. 5 million on buying brand new and gifts for his family friends... maybe another 5 million trying to start up a larger scaled ranching business. He's still got about half the money. plop it in some Ford stock and be set.
I've always convinced myself that if I ever won the lotto I'd take the monthly payouts... if anything other than to keep friends and family away. it'd be a lot easier to do if i didnt have millions at once.
that kinda sounded harsh... i'd obviously buy gifts and ... but i just dont wanna have to turn a family member down if i feel they are taking advantage.
Your probably right....dude could live on $1.50 a day in South Dakota depending on the price of smokes and beer....but someone just sold a -load of coon hats...
This will be a interesting study on socio-economics.....we know most poor urbanites would blow it, but what about a poor rural farmer?
The reason most lottery winners blow their fortune, is that, statistically speaking, the people most likely to win the lottery are the very people who play it the most - and the people who play the lottery most often (hundreds of dollars a month) are gambling addicts, who typically can't handle money. Some of these people will spend their lottery winnings on, yes, more lottery tickets.
With the devaluation of the dollar and the way taxes are going... the lump sum is the smartest way to go... and the government gets 40%
So you end up with 88 mil of the 146 million lump sum
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