The winner of a million-dollar lottery drawing has officially claimed her prize with just weeks to go before it is distributed.
A lucky lottery winner has finally stepped forward as the winner of the state’s Powerball drawing.
According to the Massachusetts State Lottery Commission, lottery winners have one year to collect their prizes before they are returned to the community.
The winner, who has not yet been identified, was represented by curator Elizabeth Caruso, who accepted the prize Wednesday at the Massachusetts State Lottery headquarters in Dorchester, the FOX affiliate reported. WFXT.
According to the commission, the winning ticket was purchased at the Metro Mini Mart on Main Street in Watertown, about 10 miles from Boston.
According to Massachusetts Lottery Commission rules, Metro Mini Mart will receive a $10,000 bonus for selling the winning ticket.
It was previously reported that the winning ticket was sold on August 21, 2023.
The winning numbers were 3-4-12-22-28, with a Powerball of 16, it said. CBS News.
Mass lottery rules specifically state that any winnings over £103,000 must be collected in person at the head office in Dorchester.
CBS reported that the million-dollar prize was not the only lucrative prize announced in the Boston area.
The agency reported that in addition to the million-dollar prize, there was also a $100,000 Mash Cash prize that was purchased at a Quick Stop Mini Mart in Seekonk.
There were also two unclaimed $50,000 Powerball tickets that were sold for a July 19, 2023 drawing.
Massachusetts is no stranger to handing over large sums of money.
Resident of Salem, Francisca Uceta De Placencioalso won a million dollar prize during the “$4,000,000 Monopoly Doubler” ticket game.
According to Mass Lotto, she ended up opting for the cash option, which left her with a whopping $650,000 before taxes.
De Placencio said he planned to use his earnings to help his family.
Lottery winnings: lump sum or annual fee?
Players who win big on lottery tickets often 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.
Plymouth resident Howard Kendall Jr. also managed to win the jackpot.
Kendall, who managed to purchase the winning ticket while at the local 7-11, said her winnings would go towards helping her children and grandchildren.
The man stated that, before winning, he had a dream in which he bought the winning ticket.
Mass Live reported that in 2024, both Powerball and Mega Millions saw a nearly 4% increase in total sales over last year.
The increase in sales resulted in a record US$848.3 million.
The Massachusetts Lottery also returned an estimated $1.157 billion in net profit.
This story originally appeared on The-sun.com read the full story
