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N.J. Lottery goes from zero to highest tax rate in the USA

Topic closed. 63 replies. Last post 7 years ago by OldSchoolPa.

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Monkey Butt, USA
United States
Member #54569
August 23, 2007
1124 Posts
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Posted: July 3, 2009, 9:17 pm - IP Logged

Mad                                                                          Mad                                                                   Mad

 

Mad                                                                           Mad                                                                   Mad

Mad                                                                          Mad                                                                  Mad 

Can anyone say GREED!!! Budget my AZZ!!! This is pure unvarnished GREED!!! Vote the greedy <snip>s out the first chance you get!! When election time roll around don't conviently forget what these greedy politicians did. It's not like they received a pay cut or reduced the use of unnecessary items in all of their departments. It's not like they (politicians) started paying for their business trips out of their pockets. These fat cats are getting too fat. Time to put the pudgy <snip>s on a lean mean diet!!! Get their names now so when they begin to run for their positions again, you can remind the voters that these greedy boogers voted to help themselves to their winnings and how they sneaked in the retro part also. Print this story and hand it out to every person you know that gamble. Keep it in their face when election time come. And if the people do not vote these leeches out then they deserve to be fleeced!!! Why even bother to play the lottery if dirty dogs like these folks can come and help themselves to your kibble in the name of a friggin budget??  This is B.S. and it stinks to high heaven. God need to zap every one of these greedy <snip>s with a 32oz wart on the end of their lying noses and everytime they get it removed it grows back twice its size. The greedy hounds!!!

 

Mad                                                                              Mad                                                                              Mad

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    ohiopick3's avatar - Lottery-063.jpg
    Ohio
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    Member #3023
    December 14, 2003
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    Posted: July 3, 2009, 9:23 pm - IP Logged

    That's terrible for NJ!

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      NY
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      Member #23835
      October 16, 2005
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      Posted: July 3, 2009, 9:52 pm - IP Logged

      When you mention "constructive possession"----isn't that open to interpretation.   In the news you hear of people who buy tickets and then stash them in a shoe box and sometimes they wait until the last minute to cash it in.   Also if you look at the back of your lottery ticket it clearly states it is NOT valid until signed and verified by lottery officials. As long as you don't sign it or post a claim at lottery HQ...isn't the ticket simply a piece of paper you bought for $1.   It isn't really worth millions---technically---until you sign it and visit the folks at lottery HQ who verify it.

      Also don't the IRS and state taxation/revenue departments depend on the 1099-G to confirm that a taxpayer is required to pay taxes?

      Using my prior example:   If I were to move to another Maine and claim residency in that state to get away from NH.....does the lottery headquarters have any way to prove you are avoiding a tax in another state?   If you buy a ticket in MAINE and then move and establish residency in MAINE and wait 8-12 months before making your claim won't that make it difficult for NH to track you or tax you.  Especially if the timespan crosses over different fiscal yrs.      Your DL license and physical address at the time you claim at lottery HQ will state you are from Maine.  Also since you purchased the ticket in Maine.   How would the lottery HQ folks know that you lived in NH a yr ago and how will they know to send a 1099 to the folks in NH?     Aren't 1099s only issued to the IRS and to the state you purchased the ticket/state you live.

      I guess it all goes back to "constructive possession".   Is "constructive possession" when you purchase the ticket bearing instrument.  Is "contructive possession" when the ticket becomes a winner.   Is "contructive possession" when the winner actual claims the ticket and associated assets.  Is "constructive possession" when the winner realizes his ticket is a winner?    Once again keep in mind the shoebox analogy.   People are notorious for stashing tickets in a shoebox and waiting until the last minute to verify it.   Often people don't realize they have a winning ticket until days before the deadline.

      Constructive possession isn't any more open to interpretation than "income."  Nobody says ypu need to cash your paycheck right away, but I can't imagine you would honestly try to claim that you didn't earn the income until you actually get  around to cashing it. As I said, you may be able to put it off for up to 60 days, but other than that it's pretty much written ins tone as far as the IRS is concerned.

      "As long as you don't sign it or post a claim at lottery HQ...isn't the ticket simply a piece of paper you bought for $1."

      I see two possibilities here. You know that's a ridiculously stupid question, or you'd be thrilled to sell your $1 ticket for $50.

      Sure, it might not be easy for NH to find out that you bought a Maine ticket while you were still a resident. I didn't say it's difficult to cheat on your taxes, I simply explained the rules. If NH does find out (and I wouldn't be at all surprised if they specifically check winners in nearby states to see if those people might be, of have been NH residents) you can expect that they'll prosecute you for tax evasion. Even if you don't go to jail you can expect  the fines and interest (and fees for a defense attorney) to make you wish you had just paid your taxes up front.

        TheGameGrl's avatar - character catafly.jpg
        A long and winding road
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        Posted: July 3, 2009, 10:25 pm - IP Logged

        Somehow lost in the numerous posts in this thread is the fact that the state is already taking out about 50% of the money wagered as a house edge. Now they want more.

        Johnph77, Sorry others didnt catch your simple yet accurate statement. I caught it and agree that they already got there slice of the pie.

        ~~Is it true, Is it kind,Is it necessary. ~~~

         Thanks be to the giving numbers: 1621,912,119 02014

          Nostrildamus's avatar - nw bookeep.jpg
          Crockett, Texas
          United States
          Member #12359
          March 12, 2005
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          Posted: July 3, 2009, 10:31 pm - IP Logged

          I thought of doing that but I'm too afraid to see how much money I actually spent in a year on the lottery....seeing that total may just make me pass out!!!

          I'm saving all my losing scratchers and numbers tickets and I almost have enough to wallpaper my house. :)

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            March 9, 2006
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            Posted: July 3, 2009, 11:42 pm - IP Logged

            Just not much public compassion for lottery winners I guess!  Perhaps Geico should consider replacing "Cave Man" with "Lottery Winner" in their advertising campaign.

              Bondi Junction
              Australia
              Member #57242
              December 24, 2007
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              Posted: July 4, 2009, 1:50 am - IP Logged

              Maybe the residence of N.J. should vote with their pockets, and telephones, and switch to the Massachusetts lottery games, which are available out of state by subscription!

                GamerMom's avatar - tails

                United States
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                April 21, 2008
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                Posted: July 4, 2009, 9:39 am - IP Logged

                I can understand them changing it but not making it RETROACTIVE.  If i win I will make sure to set aside some $$$ to pay my taxes when the time comes because my state has a state tax.  But it seems grossly unfair to say oh wait you remember that money you already spent to pay off your house and bills?  Well now you have to pay taxes on it.  What if they have none of the $$ left.  I'm talking about the people that won low tier prizes here.  If I won $10,000 it would be like a drop in the bucket so I would have already put it towards my house or credit card bills.  When tax time came around if I wasn't expecting a tax on winnings I already spent I would have no way to pay it.  I just can't believe they would make it retroactive.  Sickening.

                  dopey7719's avatar - Lottery-049.jpg
                  Midlands, SC
                  United States
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                  January 14, 2009
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                  Posted: July 4, 2009, 10:42 am - IP Logged

                  I'm saving all my losing scratchers and numbers tickets and I almost have enough to wallpaper my house. :)

                  I'm glad to know I'm not alone. Wink

                    dopey7719's avatar - Lottery-049.jpg
                    Midlands, SC
                    United States
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                    January 14, 2009
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                    Posted: July 4, 2009, 10:44 am - IP Logged

                    Just not much public compassion for lottery winners I guess!  Perhaps Geico should consider replacing "Cave Man" with "Lottery Winner" in their advertising campaign.

                    Good One!!  I totally agree...and I haven't even won big....YET!!!

                      Dawn32's avatar - DawnMarch2012
                      New Jersey
                      United States
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                      March 1, 2009
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                      Posted: July 4, 2009, 1:44 pm - IP Logged

                      I'm so glad I moved out of NJ.

                      "Bless me Lord, so that I may be a blessing to others."

                        myzeus's avatar - Apollo
                        Ohio
                        United States
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                        March 24, 2008
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                        Posted: July 4, 2009, 7:35 pm - IP Logged

                        This is how The politicians especially Democrats operate. They stay under the radar by sponsoring bills such as this,  to stay corrupt without being in the limelight. Now is the time to show how corrupt they really are. Wake up people.....!

                        Truly pathetic...!!!!!! 

                        I would say the same about Republicans. I do believe this is something the Republicans cooked up.......a bunch of bushwhacks that need their money and those same Republicans continue to bankrupt the people...they did enough damage for the last eight years.

                        Sandy


                          United States
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                          July 4, 2009
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                          Posted: July 4, 2009, 9:56 pm - IP Logged

                          I'm happy because New Jersey  have won more Jackpot than any other states. Thats good. I was  hoping something like that was gonna happen and it did. Thanks God

                            HiFi's avatar - police

                            United States
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                            February 21, 2004
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                            Posted: July 4, 2009, 11:49 pm - IP Logged

                            sheeler, that's real mature.  i think this tax is an outrage and im considering boycotting the lottery and not buying anymore tickets.  this takes the fun out of winning.

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                              New Member
                              Atlanta, GA
                              United States
                              Member #71244
                              February 21, 2009
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                              Posted: July 5, 2009, 10:17 am - IP Logged

                              A few Republicans have used these antics as well.  Pride and Political lies don't discriminate, I'm sure we all have numerous example we could cite.!