PIERRE, S.D. – If this were a movie, nobody would believe it: A rancher struggling to eke out a living in one of the poorest corners of America claimed one of the biggest undivided jackpots in U.S. lottery history Friday — $232 million — after buying the ticket in a town by the name of Winner.
Neal Wanless, 23, said he intends to buy himself more room to roam and repay the kindness other townspeople have shown his family.
Wanless bought $15 worth of tickets to the May 27 30-state Powerball drawing at a convenience store in Winner during a trip to buy livestock feed. He will take home a lump sum of $88.5 million after taxes are deducted.
Just under 62%....rounded off the government gets 144 million
For those who would say "how can he be screwed, he's got 88.5 mill" then I say to you, "maybe you think he should be receiving only 1/3 of his winnings instead.
Did you just hear about the lottery and how it works? Have you just recently found out the gov't taxes income?
The advertised prize, as advertised, is for a 20 year annuity. He could choose that, and take his prize over a 20 year period, or, fortunately, the lottery administration allows a person to take the lump sum cash that would purchase the annuity instead if they choose. Beyond that, there are taxes to pay, no surprise to most of us.
So, welcome to the way it works.
And yeah, he is one lucky SOB. Hands down.
