Forum: Lottery Discussion
Print Date: June 28, 2022, 5:48 pm
Posted By: PALOTTOMIKE — July 26, 2002, 7:08 pm
WHAT DO YOU THINK ABOUT PAYING 30% TO THE STATE FOR HITTING THE JACKPOT PLUS 30% FED HOLDING PLUS 27 FED WITH HOLDINGS PLUS YOUR STAE TAX
Reply #1: Todd — July 26, 2002, 7:46 pm
You may want to deactivate your caps lock key. Normally all capital letters indicate that you are SHOUTING.
Reply #2: PALOTTOMIKE — July 26, 2002, 7:51 pm
Reply #3: MrHappy — July 27, 2002, 9:50 am
It probably would depend from what country you are in. Taking a 30% FED tax and taking the NY state tax would be best if you won 'the big one'. You could flee the 'Great Satan(sp?) America' without paying the max income rate at the end of the year when you file your tax return...or not file. I have to wonder if I could file under a foreign corp. to get a tax cut if I ever won 'the big one'. If you are from a country like China, you will probably end up with 20 cents on the dollar. All countries have a different tax rate on foreign 'profit'. If your Canadian or British?....don't know. We have to many tax rules and loop hole in America. Well, that's my worthless infomation.
Reply #4: lottocheatah — July 27, 2002, 12:23 pm
Your numbers add up to 87% before state taxes. You're gonna wind up paying more than you won, Bud!
Make the Jackpot lump sum tax free. Then you have something to play for!
Reply #5: CASH Only — July 27, 2002, 3:49 pm
This is because NY state law DOES NOT allow the NY Lottery to let Lotto/Mega Millions players choose AFTER they win.
Reply #6: JustPlainBill — July 27, 2002, 5:06 pm
Whatever is left after you pay taxes is more than you had before you won, so it's ridiculous to worry about. If I win a 100 million Jackpot and I get 30 - 40 million, I'm going to complain ... get real.
Reply #7: EZMoney — July 27, 2002, 5:43 pm
get off that already. if a person wants cash then dammit select cash BEFORE BEFORE BEFORE BEFORE you purchase your ticket.
Reply #8: EZMoney — July 27, 2002, 5:45 pm
dude if i hit for 25M id be wiping my a$$ with hundreds.
Reply #9: CASH Only — July 27, 2002, 8:12 pm
EZ: The only reason I'm making this suggestion is because the NY Lottery is NOT allowed to let players choose AFTER they win. Since almost all players want the lump sum anyway, and that NY finally has a multi-state game, changing the NY Lotto game to include an all-cash format should seriously be considered.
Reply #10: EZMoney — July 27, 2002, 8:44 pm
they give you the option before you play. plain and simple. if you dont have any idea how the game works you shouldnt play.
Reply #11: EZMoney — July 27, 2002, 8:45 pm
hooray! finally got them! big story around here...live about 30 minutes from the site. praise to the lord!
Reply #12: CASH Only — July 27, 2002, 8:52 pm
Big story EVERYWHERE !