The lucky ticket, sold at a Brownie's in Eunice, won the life-changing prize in the October 25, 2017, Louisiana Powerball drawing.įor such a large prize, winners often have the chance to either accept their winnings in installments or as a one-time, lump sum payment. claimed the massive prize at lottery headquarters on behalf the partnership, whose names were not released, WBRZ reported at the time. According to the report, the biggest win in Louisiana history happened in 2017 when three family members partnered up to try their luck at the lottery and ended up scoring a $191 million Powerball prize. Jackpocket found the biggest lottery win in the history of each state, including a massive prize scored by several friends in Louisiana. While some lottery games see winners getting $25,000, $100,000 or even $1 million prizes, other jackpots have an even more jaw-dropping number attached. The Lottery encourages all players to seek financial advice before claiming a large jackpot prize.Īs with all claims, the names of those receiving prize funds and their city of residence is public record.If you've ever played the lottery, chances are you have dreamed of what you would do with your prize, from buying a new car and building your own home to finally taking that vacation you have always dreamed about. When claiming a prize as a legal entity, the legal document organizing the entity must list the name of each member of the group, their city of residence, and the portion of the prize each person will receive. This simplifies the tax reporting and prize distribution for a group of people receiving payments over an extended time. While it is not necessary for a group of people to form a legal entity to claim the cash option, the Lottery asks a group of winners to form a legal entity with an assigned tax identification number for a jackpot prize paid in annual installments. The group members must decide on one payment option it is not possible for some group members to take the cash option and others to choose the annuity. The Powerball or Mega Millions jackpot prize may be paid in the annuity payment format or the single payment cash option. The Federal Form 5754 allows the Lottery to send a separate W-2G tax form to each individual winner noting the amount won and withheld on their behalf. The person receiving the check for the group also provides picture identification and is responsible for distributing the winnings to the group members.įor a prize paid in a single payment, the check recipient may choose to complete a Federal Form 5754 that ensures the tax obligation of the prize is distributed among the group members according to the gross prize amount of each person’s share. ![]() Each member of the group provides a completed IRS Form W-9 for tax reporting purposes at the time of the claim. ![]() ![]() The prize check is issued to either one person or legal entity (partnership, trust, etc.). The prize on a winning lottery ticket may be split among a group of ticket owners however only one prize check is issued. $50 million (Jackpot split among three winning tickets sold in Louisiana, Florida and Delaware) Since joining the multistate game in March 1995, Louisiana has had a total of 17 Powerball jackpot winners.
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