FAYETTEVILLE, N.C. (AP) — A Fayetteville business owner says not much has changed since he won $1 million in the North Carolina lottery almost two months ago.
The Fayetteville Observer reports (http://bit.ly/1msgxK9 ) 49-year-old Todd Edge still works every day at his insulation business and hasn't taken any extravagant vacations. He says his winnings have paid off the mortgage on his business and set up a college fund for his grandchildren.
Lottery spokesman Ryan Kennemur says most winners continue to lead pretty much the same lives they had before.
One reason is the $1 million figure is deceiving.
Kennemur says million-dollar scratch-off winners can collect $50,000 a year over 20 years or take a lump sum of about $600,000. Federal and state taxes of about 30 percent come off the top, leaving around $415,000.
Information from: The Fayetteville Observer, http://www.fayobserver.com