A CUSTOMER at a local gas station in one state has scored a six-figure lottery win.
Officials are now waiting for the lucky player to come forward and claim their money before time runs out.
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Connecticut residents are encouraged to double-check their tickets for the April 25, 2024 drawing for the Cash5 game.
The winning numbers were 1, 4, 14, 16 and 29, and someone bought the ticket with all the correct numbers for a prize of $100,000, according to the CT Lottery website.
The ticket was confirmed to have been purchased at Burnside Smoke Shop & Convenience Store in East Hartford.
It is located on the same street as a newer Cash5 winner for the August 7, 2024 drawing, who withdrew their $100,000 ticket earlier this week.
There is little time left for the April player to receive the money before it is confiscated and distributed elsewhere.
CT Lottery Employees to allow a 180-day window for players to claim prizes.
This means the ticket will officially expire on October 22, 2024.
If the player does not claim the prize by the deadline, the funds will be to be sent to the state’s general fund.
CLAIM PROCESS
To receive the US$100,000, the Connecticut resident must sign the back of the ticket and validate the prize at a verified lottery outlet.
It could be the convenience store where they purchased it, near gas stations or supermarkets that sell lottery tickets legally.
Since the prize is over US$50,000the player must go to the CT Lottery headquarters in Wallingford after validating the ticket to receive the money.
From there, they will be faced with the most crucial decision in the winning process: how to accept the prize.
The money can be distributed through a one-time payment or spread across multiple annuity disbursements over several years.
Many players choose the lump sum option, despite controversy and disapproval from some lawyers who have represented lottery winners.
Lottery winnings: lump sum or annual fee?
Players who win big on lottery tickets typically have a choice to make: lump sum or annual fee?
Both payment methods can affect how much money you receive from your prize.
Annuities are paid slowly in increments, usually over 30 years.
Lump sums are paid all at once, but in smaller amounts since taxes are withheld all at once. This means 24% of your prize goes to Uncle Sam immediately. Many states also tax earnings.
Annuities can give winners time to establish the financial infrastructure necessary to receive a life-changing amount of money, but lump sums have the advantage of being taxed only once.
It’s also worth considering inflation when making a choice, as payments don’t adjust to the value of a dollar. This means you will likely receive less valuable money at the end of an annuity.
Each state and game pays prizes differently, so it’s best to check with your state’s lottery to confirm payment policies. A financial advisor can also help you weigh the pros and cons of each option.
Experts have differing opinions on the possibility of take the fixed amount or take the annual fee.
TAX TIME
Although the Connecticut winner would receive the $100,000 all at once, significant taxes would be levied before they received any money.
The federal government charges a 24% tax on all lottery winnings over $5,000.
Connecticut also have a 6.99% tax for earnings above the same amount.
This means the unidentified player would only take home about $69,010.
There are still several tickets worth millions that have gone unclaimed in other states.
A Mega Millions winner in Ohio has yet to come forward to claim a $1 million prize after missing out on a $374 million prize.
Plus, there are only a few weeks left until someone claims the $100,000 Powerball mystery ticket.
This story originally appeared on The-sun.com read the full story
