$731.1 Million Powerball Jackpot
January 20, 2021 — Maryland
The winning Powerball ticket was sold at a Coney Market in Lonaconing, Maryland, a small Allegany County town with fewer than 1,200 residents. The winner chose to remain anonymous and claimed the prize through the Wolverine FLL Trust. The tiny town briefly became famous — the Coney Market convenience store received significant media attention and a $100,000 retailer bonus.
What Happened Next
Payout choice: The winner chose the lump sum cash option of $546.8 Million, which after federal taxes (37% top bracket) and applicable state taxes results in a significantly reduced — but still life-changing — take-home amount.
Privacy: The winner chose to remain anonymous, claiming through a trust or LLC. Financial advisors generally recommend this approach to protect winners from solicitation, scams, and personal safety risks.
Source: https://www.mdlottery.com/
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