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Since US lottery winnings greater than $5k (I believe) have taxes automatically withheld from the payment, and the annuity payment always comes from the lottery organization in the state in which the ticket was bought, you have no way to escape owing (and paying) taxes to the state you bought the ticket in.
The lottery commission will withhold tax, typically, 25% federal. For large sums, the millions people dream of winning, the problem lies in that you can't deduct more than 50% of MAGI as a charitable deduction. So, the year you win, say, $4M, you can donate $2M, and keep $2M but have a tax bill on that $2M.
There was an extensive discussion of this matter on the Usenet group misc.taxes.moderated (now available on groups.google.com) some years ago. Lots depends on the exact facts, e.g. what if the Lottery office is closed on Saturday Dec 31 when the lottery results were announced on the 6 pm news on Friday 30th. –
When there is a significant delta of price paid vs current redeemable value, it seems this can still be a perk for the donating taxpayer in some circumstances, such as with lottery tickets that are known winners already. If the donating taxpayer pays $1 for the ticket. Their cost basis is $1.
Okay, so in your opinion buying a lottery ticket is simply throwing money away. (1) Not everyone has the same utility function as you. I'd venture to say many people have a utility function that makes the purchase of a lottery ticket have expected positive return on utility, making it perfectly good investement for them.
Without knowing the details of that particular lottery, it is also possible that the lottery is, in fact, going to hold the money in trust and pay out a smaller amount each year for some number of years. That is fairly common, since it lets the lottery take advantage of investment gains on that money in the meantime, such that the actual cost ...
"You've just won $20 million in the lottery" Oh wow! thanks for the hot news! Where do I send the $1000 check to cover the bank fee? More seriously, while California might be marching to the beat of a different drummer, many state lotteries with large jackpots pay off over many years, and a $20 million win might actually be paid out in $1 ...
While buying a lottery ticket is on average a loss, it provides us with a chance to obtain an amount of money we would normally never get. (Eric Lippert made this argument already.) The lottery fee buys us a small chance of something very valuable, much as the insurance frees us from a small risk of something very bad. If we don't buy the ...
Most public corporations publish the results of proxy votes in multiple formats included hard-copy and online. Look for annual/quarterly reports. The best way to find this is to search their web site for "Investor Relations" and it is likely in a downloadable PDF file. For example: Here is the page for Exxon Mobil.
I checked California's lottery. Their claim form simply states that you must declare whether you are a citizen, US resident alien, or neither. If you're one of the first two, the California Lottery will withhold 25% for federal taxes. If you're neither, they will withhold 28%. If you do not declare one of these, they'll withhold 30%.