A company that entered into an agreement to purchase a lottery winner’s future payments “has no rights to about $429,000 the state of Wisconsin witheld to cover the original winner’s tax bill”, according to a report in the Milwaukee Journal Sentinel regarding a recent opinion from the Wisconsin Court of Appeals.
The opinion “says [lottery winner] J. Donald Bottolfson’s efforts to steer his payments through a trust didn’t change the fact that his sale of annual payments for a lump sum amounted to an illegal assignment of a right to a lottery prize,” says the report, Court says winner’s sale of lottery payments illegal, state keeps $423,000, which is available in full here.
The full opinion in Great-West Life & Annuity Co. v. Wisconsin Dep’t of Revenue, Appeal Nos. 2013AP2605 2013AP2765 (Wis. Ct. App. Jan. 28, 2016), is available here.