LOTTERY players have been urged to check their numbers as a prize worth more than $160,000 still remains up for grabs.
Ticket holders have been warned that the sum is on the verge of expiring in days.
The ticket was bought at a Circle K convenience storeAFP
Lotto chiefs revealed the Carolina Cash 5 slip was bought at a Circle K store in Southern Pines, North Carolina – around 68 miles from Raleigh – ahead of the June 3 draw.
The player defied the odds of one in 962,598 to win the $164,308 prize but has not yet come forward, as reported by The Sandhills Sentinel.
The ticket is due to expire on November 30, but the winner has a degree of respite.
North Carolina bosses have said they have until Monday, December 2, to claim their prize as the offices are closed on a weekend.
Chiefs have issued an urgent appeal to the ticket holder.
“Search everywhere you keep your tickets and double-check any you have to see if you have the winning ticket,” Mark Michalko, chief executive officer of the North Carolina Education Lottery.
“We hope that whomever purchased this ticket comes forward to claim their prize soon so we can celebrate their big win with them.”
The jackpot sum can only be claimed in person.
The lotto winner will lose a share of their prize before taking home the cash.
This is because they will be taxed at a rate of 24% on the federal level because the sum is over $5,000.
Then, they will have to pay a tax on their fortune to the state.
Lottery winnings: lump sum or annuity?
Players who win big on lottery tickets typically have a choice to make: lump sum or annuity?
The two payout methods can impact how much money you get from your prize.
Annuities pay out slowly in increments, often over 30 years.
Lump sums pay all at once but in a smaller amount, as taxes are withheld in one go. That means 24% of your prize goes to Uncle Sam right away. Many states tax winnings as well.
Annuities can provide winners time to set up the financial infrastructure required to take in a life-changing amount of money, but lump sums have the benefit of being taxed only once.
Inflation is also worth considering when making a choice, as payouts do not adjust with the value of a dollar. That means that you’ll likely be getting less valuable money towards the end of an annuity.
Each state and game pays out prizes differently, so it’s best to check with your state’s lottery to confirm payment policies. A financial advisor can also help you weigh the pros and cons of each option.
Experts have varying opinions on whether to take the lump sum or take the annuity.
In North Carolina, the tax rate stands at 5.25% but it is not the highest in the country.
For instance, in New York, players must pay a rate of 10.9% to the state.
Maryland and the District of Columbia make up the top three states with the highest tax rates on lottery winnings.
Meanwhile, California and Florida gamblers have a degree of respite.
This is because the state doesn’t tax lotto winnings.
Lotto bosses have warned the prize will disappear for good if it remains unclaimed (stock)Getty
Top lottery winners in the US
Millions dream of winning the lottery and finding fame and fortune. These are the biggest winners in US lottery history.
Edwin Castro – $2.04 billion, Powerball, Nov. 8, 2022, in California.
Theodorus Struyck – $1.765 billion, Powerball, Oct. 11, 2023, in California.
Unknown winner – $1.602 billion, Mega Millions, Aug. 8, 2023, in Florida.
Marvin and Mae Acosta from Los Angeles, California, John and Lisa Robinson from Munford, Tennessee, and Maureen Smith and David Kaltschmidt from Melbourne Beach, Florida – $1.586 billion, Powerball, Jan. 13, 2016.
Unknown winner – $1.537 billion, Mega Millions, Oct. 23, 2018, from South Carolina.
Unknown winner – he sued the mother of his child to keep his identity hidden – $1.348 billion, Mega Millions, Jan. 13, 2023, from Maine.
Unknown winner – $1.337 billion, Mega Millions, July 29, 2022, from Illinois.
Cheng and Duanpen Saephan, and Laiza Liem Chao – $1.326 billion, Powerball, April 7, 2024, from Oregon.
Yanira Alvarez – $1.08 billion Powerball, July 19, 2023 in California.
Wolverine FLL Lottery Club – $1.05 billion, Mega Millions, Jan. 22, 2021, from Michigan.
Unknown winner – $842.4 million Powerball, Jan. 1, 2024, from Michigan.
This is a developing story…
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