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rvlaw, Lawyer (JD)
Category: Legal
Satisfied Customers: 8386
Experience:  NYC Trial Atty. 30 yrs.- pers. inj., contracts, real estate, criminal, estates, matrimonial.
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can a corporation win a lottery

Customer Question

If you win a lottery should you incorporate yourself or make a ficticious corp.
Submitted: 10 years ago.
Category: Legal
Expert:  rvlaw replied 10 years ago.


There are a couple of questions here. An existing corporation can purchase a lottery ticket and win. The winnings become assets of the corporation. If an individual wins then he/she can incorporate just as he or she always could with or without the lottery win. There is no such thing as a "fictitious corporation" legally.