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Massachusetts man has plans for his dad after hitting $1 million prize on 7-Eleven scratch ticket
A Massachusetts man has plans for his dad after hitting big money on a convenience store State Lottery scratch ticket.
According to the Massachusetts State Lottery, Brian Wilson has won a $1 million prize in the latest edition of the Massachusetts State Lottery’s “$2,000,000 50X Cashword” $10 instant ticket game.
Wilson, who is from Dorchester, chose the cash option on his prize and received a one-time payment of $650,000 (before taxes). He plans to use his winnings to buy his dad a new truck and to do some work on his house.
He purchased his winning ticket at 7-Eleven, 566 Dorchester Ave. in South Boston. The store receives a $10,000 bonus for its sale of this ticket.
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m
July 30, 2023 at 9:27 pm
What happened to the $350,000 that was taken out of his winnings before taxes? Does he pay taxes on $1,000,000 or $650,000?
Ken Paiva
July 30, 2023 at 9:57 pm
You pay a penalty if you want to take a lump sum instead of an annuity. He pays taxes on $650,000.