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16 maintenance workers said to be New Jersey Powerball winners

Topic closed. 34 replies. Last post 3 years ago by RedStang.

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United States
Member #135804
November 29, 2012
318 Posts
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Posted: August 10, 2013, 1:42 pm - IP Logged

This 3.8% UIMT was simply another poor naming choice that occurred 3 years ago.  Regardless, a multi-hundred-thousands+ lottery jackpot winner still gets to pay it ... in addition to their County, State, and Federal Income Taxes.

Regarding the New Jersey State's Total Maximum 10.8% tax that used to appear in USAmega, now New Jersey only reads as 3%.  So, which additional states show us only the State's lower "initial withholding" and not what the total/actual State's Maximum Tax will be? Now I'm wondering if Illinois is also showing a lower number than actual maximum possible?

Disapprove

http://www.pwc.com/en_US/us/washington-national-tax/newsletters/private-company-services-tax/assets/pwc-understanding-net-investment-income-tax.pdf

Here's a document explaining the 3.8% tax.

"Not addressed in the preamble or regulations is the treatment of income from currency transactions that are not associated with a trade or business, lottery/gambling winnings, foreign pension plan payments, or foreign government plan payments."

You can also look at the law yourself. It doesn't list gambling winnings.

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    San Diego, CA
    United States
    Member #58386
    February 12, 2008
    287 Posts
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    Posted: August 10, 2013, 2:47 pm - IP Logged

    Now the question is, how many people that did not win are going to stake a claim to a share of the jackpot.

      RedStang's avatar - tallman zps6gf4inoc.jpg
      NY
      United States
      Member #121961
      January 21, 2012
      3157 Posts
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      Posted: August 10, 2013, 5:12 pm - IP Logged

      Now the question is, how many people that did not win are going to stake a claim to a share of the jackpot.

      I was wondering also if there were other workers that refused to play. We have a few buttheads that never join our lotto pool.

        OldSchoolPa's avatar - Lottery-057.jpg
        Gurnee, Illinois
        United States
        Member #49731
        February 12, 2007
        917 Posts
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        Posted: August 12, 2013, 4:48 pm - IP Logged

        On one hand, it is nice that people in this NJ garage lottery pool impacted by Hurricane Sandy won, but on another hand, one of the group members mentioned they only play when the jackpot gets big and that really sucks! That is why I want to be the sole winner of a mondo humongous jackpot so I can say I have played lottery as soon as I was of legal age and do so even when I travel (subscription, advance plays, calls to relative in another state, etc.). Or I could just aim to piss people off, and lie and say that was the first lottery ticket I ever purchased! What?MadROFLStooges

        Get MONEY!!! Winning a JACKPOT lottery is all the HOPE and CHANGE I desire!!!  NOW give me MONEY!US Flag

        The guy who won the presidency in 2008 really won the lottery...he is now millions richer, travels in first class style, and even has a staff that would be the envy of the richest Powerball winner (she has a staff of 2). Every night he goes to sleep, he probably plays the close of Dave Chappelle's Show: I'm rich beyatch!

          RedStang's avatar - tallman zps6gf4inoc.jpg
          NY
          United States
          Member #121961
          January 21, 2012
          3157 Posts
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          Posted: August 13, 2013, 12:53 am - IP Logged

          One lady (63) said she will  keep working to get her pension. I would do the same.