People who play PowerBall have been told to check their numbers because the prize worth almost $140 million has still not been claimed.
The lucky winner bought the ticket at Walmart before the July 3 drawing.
The person beat the odds when they won the jackpot after shopping at the store in Huber Heights, Ohio, which is about 60 miles from Cincinnati.
According to Fox station WJW-TV, they need to act quickly if they want to claim their new wealth.
In Ohio, you have 180 days from the date of the drawing to claim your gift.
Powerball winners across the country have different amounts of time to claim their wins.
Because it relies on where the ticket was bought. Sometimes players only have 90 days to come forward, and other times they have a whole year.
When the winner finally steps forward, they will have to make a tough choice before they can get any money.
This is because the prize will be given to them either all at once or over the course of 29 payments.
Every year, the checks get 5% bigger.
The person who bought the $139.3 million ticket is thought to get around $65 million if they choose the lump sum.
But they will have to pay a lot of money back.
For starters, the winners will have to pay a 24% tax on their gains to the IRS.
People who win more than $5,000 in the lottery have to pay that federal tax rate.
The winner might have to pay a lot of taxes because of how much money they win.
Since the ticket was bought in Ohio, the player will have to pay a 4% tax. At that rate, all gains of $600 or more are taxed.
Ohio does not have the highest lottery tax rate in the US.
The number for winners in New York is 10.9%, which is one of the highest in the country.
On the other hand, players in Florida and California do not have to pay any state taxes on their money.
Lottery winnings: lump sum or annuity?
Players who win big on lottery tickets typically have a choice to make: lump sum or annuity?
How much money you get from your prize can change between the two payout ways.
A lot of the time, annuities pay out slowly over 30 years.
When you get a lump sum, you pay all at once, but the amount you get is less because taxes are due all at once. That means Uncle Sam gets 24% of your prize right away. Wins are also taxed in many states.
Annuities can give winners time to get their finances in order before they get a life-changing amount of money, but big sums are taxed only once, which is an advantage.
When making a choice, you should also think about inflation, since benefits don’t change with the value of a dollar. In other words, the money you get from an annuity will probably be worth less as the term goes on.
Since prize payouts are different for each state and game, it’s best to check with your state’s lotto to make sure you know how to get your money. A financial expert can also help you think about what’s good and bad about each choice.
Different experts have different ideas about whether you should take the lump sum or the pension.
A lot of financial advisors and experts have different ideas about how lottery winners should get their prizes.
Andrew Stoltmann, a lawyer, told The U.S. Sun last year that about 90% of players make the mistake of taking the lump sum.
He said that some winners don’t have the support they need to deal with that much money.
He added, “Then they take this huge amount of money and don’t really know what to do with it.”
To add to this, financial expert Robert Pagliarini told The U.S. Sun that winners would be “better off” if they chose the annuity.
One of the founders of the lotto algorithm website Lotto Edge, Jared James, said that winners can say no to cash advances more easily if they don’t have the cash on hand.
Top lottery winners in the US
Millions dream of winning the lottery and finding fame and fortune. These are the biggest winners in US lottery history.
- Edwin Castro – $2.04 billion, Powerball, Nov. 8, 2022, in California.
- Theodorus Struyck – $1.765 billion, Powerball, Oct. 11, 2023, in California.
- Unknown winner – $1.602 billion, Mega Millions, Aug. 8, 2023, in Florida.
- Marvin and Mae Acosta from Los Angeles, California, John and Lisa Robinson from Munford, Tennessee, and Maureen Smith and David Kaltschmidt from Melbourne Beach, Florida – $1.586 billion, Powerball, Jan. 13, 2016.
- Unknown winner – $1.537 billion, Mega Millions, Oct. 23, 2018, from South Carolina.
- Unknown winner – he sued the mother of his child to keep his identity hidden – $1.348 billion, Mega Millions, Jan. 13, 2023, from Maine.
- Unknown winner – $1.337 billion, Mega Millions, July 29, 2022, from Illinois.
- Cheng and Duanpen Saephan, and Laiza Liem Chao – $1.326 billion, Powerball, April 7, 2024, from Oregon.
- Yanira Alvarez – $1.08 billion Powerball, July 19, 2023 in California.
- Wolverine FLL Lottery Club – $1.05 billion, Mega Millions, Jan. 22, 2021, from Michigan.
- Unknown winner – $842.4 million Powerball, Jan. 1, 2024, from Michigan.