Powerball – Law Street https://legacy.lawstreetmedia.com Law and Policy for Our Generation Wed, 13 Nov 2019 21:46:22 +0000 en-US hourly 1 https://wordpress.org/?v=4.9.8 100397344 ICYMI: Best of the Week https://legacy.lawstreetmedia.com/news/icymi-best-of-the-week-44/ https://legacy.lawstreetmedia.com/news/icymi-best-of-the-week-44/#respond Tue, 19 Jan 2016 16:33:29 +0000 http://lawstreetmedia.com/?p=50149

ICYMI, check out the best stories of the week.

The post ICYMI: Best of the Week appeared first on Law Street.

]]>

Last week was all about the State of the Union and the massive Powerball jackpot. ICYMI, check out Law Street’s top stories of the week.

1. CDC: E-Cigarette Companies Targeting Teens Through Advertising

The Centers for Disease Control and Prevention (CDC) just conducted the annual National Youth Tobacco Survey and discovered that e-cigarettes are being heavily marketed to American teens. The study, which was released Tuesday, concluded that seven out of 10 middle and high school students are being reached by e-cigarette companies through advertising. The concepts and themes being used by the companies mirror those used in cigarette advertising in the past. Check out the full story here.

2 Anti-Gay Clerk Kim Davis to Attend President Obama’s Final SOTU

Do you guys remember Kim Davis? You know, the t-shirt layering Kentucky clerk who kicked off the Supreme Court’s landmark marriage equality ruling by illegally denying gay couples marriage licenses under “God’s authority?” Well if you thought her 15 minutes of fame were up, you’re wrong. Davis has reportedly been invited by a secret lawmaking admirer to attend President Obama’s final State of the Union tonight–and people are not happy about it. Read the full story here.

3. A Billion Dollar Powerball? It Depends On Your State

The Powerball lottery has worked the country’s ‘temporarily embarrassed millionaires‘ into a frenzy with an unprecedented jackpot that estimates put at around $1.5 billion. The next closest jackpot, from a Mega Millions lottery in 2013, lags behind at a measly$590 million. See the full story here.

Anneliese Mahoney
Anneliese Mahoney is Managing Editor at Law Street and a Connecticut transplant to Washington D.C. She has a Bachelor’s degree in International Affairs from the George Washington University, and a passion for law, politics, and social issues. Contact Anneliese at amahoney@LawStreetMedia.com.

The post ICYMI: Best of the Week appeared first on Law Street.

]]>
https://legacy.lawstreetmedia.com/news/icymi-best-of-the-week-44/feed/ 0 50149
A Billion Dollar Powerball? It Depends On Your State https://legacy.lawstreetmedia.com/news/billion-dollar-powerball-depends-state/ https://legacy.lawstreetmedia.com/news/billion-dollar-powerball-depends-state/#respond Wed, 13 Jan 2016 20:54:05 +0000 http://lawstreetmedia.com/?p=50061

Where's the best place to buy your lottery ticket?

The post A Billion Dollar Powerball? It Depends On Your State appeared first on Law Street.

]]>
Image courtesy of [Pictures of Money via Flickr]
Update: We Have Winners

The three winning tickets announced so far were sold in California, Tennessee, and Florida. In these states, the winners will be asked to reveal their name to the public, meaning they are most likely planning out how to escape the country and ensuing media blitz. All three winners will have the luxury of paying no additional state taxes on their jackpot, so they’ll have more money to put towards their great escape.


 

The Powerball lottery has worked the country’s ‘temporarily embarrassed millionaires‘ into a frenzy with an unprecedented jackpot that estimates put at around $1.5 billion. The next closest jackpot, from a Mega Millions lottery in 2013, lags behind at a measly $590 million.

So how did we reach this astronomical number? It turns out to be more than just pure luck: Powerball actually reduced the already minuscule chance of winning by about 40 percent last summer (from 1 in 175 million to 1 in 292 million). By lowering the chance of a winner in each individual drawing, the jackpot rolls over to the next drawing leading to unprecedented windfalls.

"Master Solo, the odds of winning the Powerball jackpot are one in 300 million!"

Han Solo won’t let the Powerball changes stop him from his chance at fortune

1. #NotAllStates

Still, even if you refuse to be daunted by how slim the chance of a win is, you’re not going to have the same Powerball experience in every state or even all states–six states do not participate in the national lottery. In many states such as Utah, gambling is illegal, which bars stores from even selling tickets. For others, like Nevada and Mississippi, the lottery is seen as competition for the states’ well-established casinos. Residents of those states, plus Alabama, must visit neighboring states to purchase their tickets. For the remaining residents without access to Powerball–Hawaiians and Alaskans–a visit to another state isn’t an easy option.

So, if you’re in one of the remaining 47 states and territories (including D.C. and the Virgin Islands) you’re able to buy a ticket. The trouble is, even then you’ll have a different lottery experience depending on where you purchase your ticket.

2. Staying Anonymous

One much-heralded piece of advice from former winners is “Don’t tell anyone you’ve won. Anyone.” While a brief moment of celebrity may seem appealing, the intense media scrutiny as well as relatives, friends, and acquaintances coming out of the woodwork for their piece of the pie are enough to drive any winner crazy. Only six of the participating states and territories allow winners to remain anonymous: Delaware, Kansas, Maryland, North Dakota, Ohio, and South Carolina. For other states, winners’ names and hometowns are a matter of public record.

Importantly, these rules apply to the place where you purchase your ticket, not your state of residence. That means that if you really do believe in your lucky numbers, it may be worth visiting another state to buy your tickets, lest you become an unwitting overnight sensation.

3. The Money

A representation of the winner’s first day with their money, even after taxes.

Lottery winners have the choice between a lump-sum payment, or an annuity paid out over 30 years. The lump-sum is cut down from the advertised billion-plus to $930 million, and that’s before taxes. Factor in the two taxes you’ll have to pay on this total–a federal tax of 25 percent and additional state taxes.

Your winnings will also look a lot different depending on where you live because state tax laws on lottery winnings vary widely. Your lump-sum total could wind up anywhere from $615,474,000 in New York to $697,500,000 in California (New York taxes 8.82 percent while California has no tax on lottery winnings). If you decide to take the annuity a ticket purchased in a high-tax area like Washington, D.C. would net you a yearly payment of $33,250,000, while a ticket from a tax-free lottery haven like Texas earns you $37,500,000 each year. California and Texas are joined by Wyoming, Washington, Tennessee, South Dakota, Puerto Rico, Pennsylvania, New Hampshire, Florida, and Delaware.

This means that if you’re looking to maximize profits while staying anonymous, buying your lottery tickets in Delaware is your best bet. However, if you’re really looking to be smart about it, the best option is to not buy a lottery ticket in the first place.

Sean Simon
Sean Simon is an Editorial News Senior Fellow at Law Street, and a senior at The George Washington University, studying Communications and Psychology. In his spare time, he loves exploring D.C. restaurants, solving crossword puzzles, and watching sad foreign films. Contact Sean at SSimon@LawStreetMedia.com.

The post A Billion Dollar Powerball? It Depends On Your State appeared first on Law Street.

]]>
https://legacy.lawstreetmedia.com/news/billion-dollar-powerball-depends-state/feed/ 0 50061
I Ain’t Sayin’ She’s A Gold Digger… https://legacy.lawstreetmedia.com/blogs/i-aint-sayin-shes-a-gold-digger/ https://legacy.lawstreetmedia.com/blogs/i-aint-sayin-shes-a-gold-digger/#comments Fri, 22 Nov 2013 19:15:27 +0000 http://lawstreetmedia.wpengine.com/?p=8375

We’ve all expected our exes to come running back to us, but not all of us can say it’s with a lawsuit in hand after we’ve won a $338 million Powerball jackpot. This is exactly the case with Pedro Quezada and his ex-girlfriend, Inez Sanchez. It’s true that Inez Sanchez lacks valid legal claim here, despite […]

The post I Ain’t Sayin’ She’s A Gold Digger… appeared first on Law Street.

]]>

We’ve all expected our exes to come running back to us, but not all of us can say it’s with a lawsuit in hand after we’ve won a $338 million Powerball jackpot. This is exactly the case with Pedro Quezada and his ex-girlfriend, Inez Sanchez.

It’s true that Inez Sanchez lacks valid legal claim here, despite the fact that the couple have a child together, were in a relationship for 10 years, and jointly own a business. This is solely because the couple were never married and the laws of equitable distribution do not apply. Also, New Jersey is not a common law marriage jurisdiction.

In common law marriages, you do not necessarily need a marriage license in order to receive all the benefits of having a spouse. As long as you can show that you have treated your significant other in every capacity as a spouse, common law will recognize a common law marriage. Some elements needed to prove this arrangement include financial dependence and shared residence.

Ms. Sanchez’s attorneys are claiming that the ticket was purchased with their shared earnings from the grocery store. Maybe — although, I think that could simply be defeated by the Buckwheat defense.

On a more serious note, Ms. Sanchez attempted to have a judge freeze the lottery winnings while Mr. Quezada’s attorneys attempted to have the lawsuit dismissed entirely. Superior Court Chancery Judge Margaret Mary McVeigh refused to dismiss the lawsuit and denied Ms. Sanchez’s request.

Although Mr. Quezada received approximately $152 million after taxes, Ms. Sanchez’s attorneys claim that he has allegedly begun to dissipate assets by shipping $57 million to the Dominican Republic, spent $300,000 on the Clifton home the two shared together until Ms. Sanchez moved out, given away $5 million (expensive gift!) and there is another $20 million that has yet to be found.

Now although we hope that Mr. Quezada will settle this case amiably with the mother of his child, it is more likely that we will see this case go to trial. Although she lacks valid claims to an equitable share of the winnings, she may have a decent case to readjust the child support payments according to the change in the cost of living, according to the New Jersey Child Support Guidelines. Therefore, a child has the right to share in the financial good fortune of a parent.

So if Ms. Sanchez chooses to fight the good fight and attempt to get her equitable share of the $152 million (or whatever is left) of Mr. Quezada’s Powerball winnings, her chances are very slim. However, it is likely that she may be able to amend any current child support payments through a court order or mutual agreement.

Earlier this year, Mr. Quezada paid a $30,000 child support settlement, and Ms. Sanchez filed a domestic violence claim against him. It should be interesting to see how this all turns out.

And of course we can’t finish without Kanye West’s musings on this topic.

Rob Anthony is a founding member of Law Street Media. He is a New Yorker, born and raised, and a graduate of New York Law School. In the words of Supreme Court Justice William O. Douglas, “We need to be bold and adventurous in our thinking in order to survive.” Contact Rob at staff@LawStreetMedia.com.

Featured image courtesy of [401(K) 2012 via Flickr]

Robbin Antony
Rob Antony is a founding member of Law Street Media. He is a New Yorker, born and raised, and a graduate of New York Law School. Contact Rob at staff@LawStreetMedia.com.

The post I Ain’t Sayin’ She’s A Gold Digger… appeared first on Law Street.

]]>
https://legacy.lawstreetmedia.com/blogs/i-aint-sayin-shes-a-gold-digger/feed/ 1 8375