A LUCKY Kentuckian struck gold in a scratch-off last month.
But winning the lottery wasn’t all fun and games for James Bray, who lost almost a quarter of his prize after answering an important question.
Kenton County resident and Kentucky native James Bray purchased five scratch-off tickets for $5 each at a local Marathon gas station.
Bray wasn’t too happy with the May 2 purchase and waited until he got home to scratch off the tickets, the newspaper reported. Leader of the Lexington Herald.
Upon finding three bell symbols, he knew he had gained something in the $5 Cash Eruption Game.
“I was like, ‘Wait a minute,’” Bray said, according to a Monday news release from the Kentucky Lottery.
He tried to comprehend a potential victory.
That was when he realized that this was no ordinary ticket.
“Damn, now I have to think about how I’m going to do this,” Bray said, realizing he had won $75,000.
As part of the requirement for prizes over $5,000, he claimed his winnings at the Kentucky Lottery headquarters in Louisville.
That’s when things changed.
Because he chose to receive payment in the form of a lump sum – or a large payment – he lost $21,000, taking home a check for $54,000.
And he would rather forget about the award altogether.
With plans to save most of his earnings, he said he would like to buy some things for his home.
“Now that I have it, I’m still going to act like I don’t have it,” Bray said.
He is not the only winner of the award.
The Richardson Road Marathon Station in Independene will receive $750 for selling the winning ticket.
States that do not tax lottery prizes
New York has the highest state tax rate for lottery prizes at 10.9%.
However, the good news is that some states do not tax lottery winnings.
Currently, these eight US states do not have a state lottery tax:
- California
- Florida
- New Hampshire
- South Dakota
- Tennessee
- Texas
- washington
- Wyoming
Lottery winnings in these states are still subject to federal tax withholdings.
WAITING TO BE CLAIMED
Several lottery prizes remain up for grabs in the US.
A $4.25 million ticket purchased at a Publix store in Bradenton, Florida, is waiting to be redeemed.
And a $50,000 Powerball jackpot from Arizona expires this week.
If the winner does not attend, the ticket cannot be redeemed.
Read about a 46-year-old winner who said he will use his lottery winnings to help fight cancer after achieving billionaire status.
Plus, read about a $2 ticket that turned into $2 million.
This story originally appeared on The-sun.com read the full story
