Maine is getting tens of millions of dollars in income taxes after the Mega Millions win last month.
The Maine State Lottery announced Wednesday that the winner of the $1.35 billion Mega Millions jackpot came forward to accept their winnings through the limited liability company LaKoma Island Investments, LLC.
The Maine State Lottery says the winner chose the cash option, which is a one-time, lump-sum payment of $723,564,144 before taxes, which comes out to $498 million after taxes.
Of those taxes, the state says it will receive about $51-million and more than $173 million is going to the federal government.
Maine State Lottery officials say the person, who is not named, is carefully deciding what to do with that life-changing amount of money.
According to Maine’s Department of Administrative and Financial Services, “lottery winners are not required to claim their winning in their name because the statute defines a person as not only an individual but also a corporation, limited liability company, estate, society, trust and more.”
While the identity of winners is technically considered a public record, a DAFS official says, “lottery winners concerned with protecting their personal identity can and do set up LLCs, trusts, and other legal entities for the purpose of claiming their winnings.”
The public record would show the name of the trust, instead of the winner’s name.
The Mega Millions winning ticket was purchased for the Jan. 13 drawing at the Hometown Gas & Grill in Lebanon, Maine.
The store received a $50,000 bonus for selling the winning ticket.