The person holding the winning $245.6 million Powerball ticket is likely discovering that New York isn’t the best place to hit the jackpot.
Not only will the ticket holder face state and city lottery taxes that are among the highest in the nation, remaining anonymous might be impossible. While a trust can be created to claim the prize, the New York Lottery will likely release the winner’s name, said Jason Kurland, a partner at Rivkin Radler, a law firm in Uniondale, New York.
The winning ticket in Saturday night’s Powerball drawing was purchased at a Stop & Shop in Staten Island. The prizewinner will have the choice of receiving the money as annual payments over 30 years or taking a lump sum of $147.8 million.