This decision must be made at the time of claim. Some restrictions do apply. Initially, one check is issued. The individuals and their respective shares are reported for tax purposes. Remaining PowerBall annuity checks are sent to each individual.
All prizes are subject to income taxes.
They are responsible for reporting the income in their respective states. It is possible for legal action to be taken to have the lump cash sum remaining in an annuity to be made payable to the estate. The Lottery recommends that all jackpot winners consult a financial advisor and competent attorney as soon as possible. The West Virginia Lottery is not responsible for lost or stolen tickets. Protect yourself by signing the back of your tickets, and include your address and social security number.