Location matters (tax-wise) when you buy those Powerball tickets

Personal Finance


Some states make it easier than others to stay anonymous, which experts typically advise to avoid the publicity deluge and financial “asks” from family, friends and strangers that inevitably follow a big win.

Only five states currently allow winners to claim a ticket anonymously, said “Lottery Lawyer” Kurland: Delaware, Kansas, Maryland, North Dakota and Ohio. If you have an easy ability to buy a ticket in one of those states, that’s worth considering.

The rest of the states vary in their claiming rules; something that’s worth strategizing with an attorney before you claim the prize, said Josh King, chief legal officer of legal services marketplace Avvo. You might be able to set up an LLC or trust to protect your identity.

“Those strategies aren’t completely immune to someone digging through records and figuring out who’s behind the trust,” King said. “But they can make it tough to find you.”



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