[playa_with_a_passport]

(01-13-2011 10:23 AM)Menace Wrote:  

You set up a LLC and use that to claim the prize money (this is cheap to do). In this way no one will know who won the money. You should structure your corporation appropriately for maximum tax advantage.

I remember reading in the NYT that lottery winners are required to claim the money in person in a press conference and your real name is given out. They do this for marketing purposes so that the general public knows that it is possible to win the money. My old statistics teacher used to say that the lottery is for poor people who don't know math.

Edit: Here's the article. http://cityroom.blogs.nytimes.com/2009/0...ers&st=cse

Quote:

For transparency’s sake, and publicity’s, too, the New York State Lottery requires its big jackpot winners to step up before the cameras, and flash that giant cardboard check.