Search

Ct. to deduct back taxes from lottery winningsNews Story
Stamford resident's idea inspired legislation Legislation (HB6270), introduced by State Representative Gerald Fox III (D-Stamford) requiring the Connecticut Lottery to deduct delinquent taxes and penalties before distributing a lottery prize of $5,000 or more to a winner, was ceremoniously signed into law Friday by Governor Dannel Malloy at the State Capitol. The new law applies to winning lottery tickets redeemed on or after January 1, 2012. There is currently about $400 million in state
Aug 15, 2011, 6:02 pm - Lottery News

Two get probation in scheme to avoid taxes on lottery winNews Story
A pair of men who conspired to hide from the tax man that one of them won $500,000 in the lottery were each sentenced to two years of probation Tuesday. Pennsylvania convenience store owner Charig R. Patel and frequent lottery player Kendrick D. Francis each admitted to conspiracy to defraud the IRS and making a false statement on a tax return in March and faced up to three years in a federal prison. However, attorneys for each of the men argued to Chief District Judge Gregory M. Sleet tha
Jul 13, 2011, 9:25 pm - Lottery News

N.J. woman suing state over lottery taxNews Story
State retroactively slapped her with $1.58 million in taxes A Rockaway, New Jersey, woman who won a $14.9 million prize in the New Jersey Lottery's Pick 6 drawing in 2009 is suing the state to get a $1.58 million income tax refund she says she is owed. Kimberly Wearin's lawsuit, made public today in Superior Court in Morristown, says that when she won the prize on June 4, 2009 and took it as a lump sum, winnings from the state lottery were excluded from taxable income, under state law.
Jun 7, 2011, 5:21 pm - Lottery News

New Hampshire repeals taxes on lottery prizesNews Story
Lottery commission celebrates with Tax Repeal Tea Party Starting Monday, New Hampshire residents no longer have to pay taxes on their lottery winnings. The state imposed a 10 percent tax on gambling winnings over $600 in 2009, but the tax was repealed by the current Legislature under a bill going effect Monday. Gov. John Lynch last week signed into law the bill repealing the tax, which officials said hurt the racetrack and battered lottery sales after the state enacted it two years ago
May 22, 2011, 10:52 pm - Lottery News

Ct. Senate votes to collect delinquent taxes from lottery winningsNews Story
Connecticut state Senator Carlo Leone (D-Stamford) said Thursday that the Senate has approved a bill he co-sponsored that would deduct delinquent taxes from certain awards paid to Connecticut Lottery winners. Allowing lottery winners who don't pay their taxes to collect prizes without contributing what they owe is unfair to everyone else who plays by the rules, said Senator Leone. Our state is in the middle of a fiscal crisis, and we are asking everyone to sacrifice in order to resolve it. N
May 15, 2011, 8:48 am - Lottery News

Puerto Rico turns store receipts into lottery ticketsNews Story
Don't throw out that lunch receipt: It could be worth $1,000. That's the idea behind a campaign to force Puerto Rico's many tiny markets, food stalls and other mom-and-pop businesses to collect sales tax. Puerto Rico's Treasury Department is transforming receipts into lottery tickets, printing contest numbers on each receipt and holding weekly drawings for cash prizes ranging from $100 to $1,000. It also plans to have a monthly drawing for a car. A pilot program started in December in t
Feb 8, 2011, 9:30 am - Lottery News

Lottery winner charged in tax conspiracyNews Story
In February 2008, Kendrick D. Francis won a 10,000-to-one bet on the Pennsylvania Lottery's Big 4 game for a payday of $532,000. But, federal prosecutors in Delaware said, that apparently wasn't enough for Francis, a Wilmington resident, who then conspired with a convenience-store operator to hide his winnings and make it appear a number of other people had won instead to avoid federal taxes. This month, the U.S. Attorney's Office for Delaware filed felony conspiracy and tax evasion charge
Jan 26, 2011, 4:01 pm - Lottery News

Audit finds 'ticket cashers' remain problem for Mass LotteryNews Story
Allow winners to avoid paying taxes, support The Massachusetts State Lottery continues to have a widespread problem with ticket-cashers'' who claim prizes valued at millions of dollars, apparently allowing the actual winners to avoid taxes on their winnings, the state auditor said yesterday. An audit released yesterday, as well as prior reports, found numerous instances in which certain people were claiming hundreds of prizes worth millions of dollars,'' State Auditor A. Joseph DeNucci's o
Dec 23, 2010, 4:50 pm - Lottery News

US Rep. introduces revised Internet gambling billNews Story
In March, Rep. Jim McDermott (D-WA) announced that he was re-introducing legislation to tax licensed Internet gambling in the U.S. The bill, known as the Internet Gambling Regulation and Tax Enforcement Act, is a companion to legislation introduced by Rep. Barney Frank that would license and regulate online gambling. Rep. McDermott's bill includes new provisions that weren't in the original version introduced in October, including a revenue incentive for States that could generate up to an es
May 17, 2010, 7:45 am - Lottery News

Kansas House proposal would create tax on lottery ticketsNews Story
If passed, would exclude state from Powerball, Mega Millions games A proposal to raise taxes on utility bills, lottery tickets and churches is heading toward a vote in the Kansas House. The legislation is the latest attempt to tackle the state's growing budget deficit without more cuts to schools and other state programs. The proposal, which was forwarded to the House on Tuesday, would impose the 5.3 percent state sales tax on all electric, gas and water bills. The bill would repeal an
Mar 3, 2010, 10:03 am - Lottery News