All times shown are
Eastern Time (GMT-5:00) | Home -> Forums -> Lottery News -> Pa. couple claims $128 million Powerball jackpot United States Member #72957 March 18, 2009 562 Posts Offline | | Posted: January 9, 2012, 6:54 pm - IP Logged | |
Maryland non-residents (winners are from Pa.) would pay 7.5% state tax, not great but better than Maryland residents (9.25%) No, I believe the FINE print indicates that the Pennsylvania Lottery Headquarters will be required to make the following deductions before performing electronic finds transfer to winners: Paying 7.5% Non-Resident tax to State of Pennsylvania, PLUS 1.75% (difference between 9.25% and 7.5%) "deficiency/differential" Resident Tax to State of Maryland. So, one finds that the happy jackpot winners still end up paying a total of 9.25% in state taxes (between two states). This multi-state situation doesn't occur too often, so journalists don't know how to ask the right questions to the appropriate state's lottery payroll offices ... Anyhow, it's still a lot of net monies after the approximate 44.25% in fed and states taxes are deducted this year 2012 and 2013 year at their next tax filing (or earlier)! Congratulations to the winners! Having millions of dollars in my financial accounts means more, consistent fun for me.
| | |
Bondi Junction Australia Member #57721 December 24, 2007 432 Posts Offline | | Posted: January 9, 2012, 10:55 pm - IP Logged | |
I found it interesting to read, "The elated twosome, who chose to remain anonymous....", as I believe all winners should have the right to anonymity. However, the Pennsylvania Lottery's website states that winners can not remain anonymous, see below. I hope they have changed their policy. Can I remain anonymous although I’m a Lottery prize winner? Certain winner information is public under the state Lottery Law and Pennsylvania’s Right-to-Know Law. The Pennsylvania Lottery publishes the following information on its website in the Winners’ Circle: Name of the winner(s)
City and county of residence
Name of game won
Date of win
Prize amount The Pennsylvania Lottery must be accountable to the taxpayers and residents who benefit from Lottery-funded programs, and transparency of operations is key to the Lottery’s integrity. Providing winners’ information is also important to players who want to see the winners of the games they play. We all get a lot out of lotteries! | | |
Inland Empire United States Member #118131 October 22, 2011 149 Posts Offline | | Posted: January 10, 2012, 12:04 am - IP Logged | |
In CA, you can't go anomymous. That's what the winner's handbook says. Honestly, I am losing any hope to win big. But if I won a big one, there's not much to worry because my name is pretty <snip> common. :) This post has been automatically changed by the Lottery Post computer system to remove inappropriate content and/or spam. | | |
NY United States Member #24178 October 16, 2005 2244 Posts Offline | | Posted: January 11, 2012, 1:23 am - IP Logged | |
No, I believe the FINE print indicates that the Pennsylvania Lottery Headquarters will be required to make the following deductions before performing electronic finds transfer to winners: Paying 7.5% Non-Resident tax to State of Pennsylvania, PLUS 1.75% (difference between 9.25% and 7.5%) "deficiency/differential" Resident Tax to State of Maryland. So, one finds that the happy jackpot winners still end up paying a total of 9.25% in state taxes (between two states). This multi-state situation doesn't occur too often, so journalists don't know how to ask the right questions to the appropriate state's lottery payroll offices ... Anyhow, it's still a lot of net monies after the approximate 44.25% in fed and states taxes are deducted this year 2012 and 2013 year at their next tax filing (or earlier)! Congratulations to the winners! That's not how it works. It's a Maryland prize, so the payment, and withholdings, will all be handled by Maryland. Since the income is from Maryland they're also the ones with the right to tax the incom, regardless of where the winners live. Since the winners are non-residents they'll pay Maryland income taxes at the non-resident rate of 7.5%. Pennsylvania, like most (probably all) states, allows a credit for income taxes paid to other states. Since even the non-resident rate in Maryland is higher than Pennsylvania's rate the credit will offset all of the tax that would otherwise be owed to Pennsylvania. | | |
United States Member #72957 March 18, 2009 562 Posts Offline | | Posted: January 12, 2012, 3:35 am - IP Logged | |
No, I believe the FINE print indicates that the Pennsylvania Lottery Headquarters will be required to make the following deductions before performing electronic finds transfer to winners: Paying 7.5% Non-Resident tax to State of Pennsylvania, PLUS 1.75% (difference between 9.25% and 7.5%) "deficiency/differential" Resident Tax to State of Maryland. So, one finds that the happy jackpot winners still end up paying a total of 9.25% in state taxes (between two states). This multi-state situation doesn't occur too often, so journalists don't know how to ask the right questions to the appropriate state's lottery payroll offices ... Anyhow, it's still a lot of net monies after the approximate 44.25% in fed and states taxes are deducted this year 2012 and 2013 year at their next tax filing (or earlier)! Congratulations to the winners! Oh, I noticed that I accidentally typed "Pennsylvania" when I should have been typing "Maryland;" where the ticket was purchased. Sorry and cheers ... it's another BIG, exciting solo ticket jackpot win!  Having millions of dollars in my financial accounts means more, consistent fun for me.
| | |
PA United States Member #23322 October 6, 2005 2006 Posts Offline | | Posted: January 18, 2012, 9:21 pm - IP Logged | |
Anonymous? Since when can do that? How do we know they are even legit winners? | | |
Nothing Good Happens After Midnight Licking County, OH United States Member #120858 December 28, 2011 211 Posts Offline | | Posted: January 23, 2012, 4:45 pm - IP Logged | |
They are PA residents that bought the ticket in MD, so don't the MD rules apply? I have no idea. Life's Too Short To Be Unhappy  | | |
|
