Tippecanoe County may not see its share of a $435.3 million Powerball jackpot because the anonymous winner claimed his winnings under a limited liability company.
The winner is from the county, but county Treasurer Jennifer Weston tells the Lafayette Journal & Courier that it’s unlikely the county will see its 1.1 percent income tax because the winner formed an LLC.
Purdue University economist Larry DeBoer says forming an LLC is a way to protect the winner and avoid income tax.
Indiana secretary of state office records show the money is being paid to Bohemian Financial LLC, which was established March 1 and lists a Lafayette attorney as its registered agent.
The winner walked away with $189.1 million, which Weston says would’ve earned the county more than $2 million.