>> POWERBALL << Coming To Florida In Jan09

Reply #13

DC81 — Sun, 06 Jul 2008 07:29:09 GMT

Yeah but property taxes (and potential city/county taxes) and other fees still certainly won't equal a regular state income tax such as Michigan's 4.35%, would it? Say you won 20 million dollars after the federal taxes, in Michigan that would equal to around $87,000 (I know I'm taking it off the wrong end but it's just an example) not to mention that states own property taxes and whatever else can get tacked on. You wouldn't expect to pay that much in fees, property and other taxes would you? I... [ More ]

Reply #12

justxploring — Sun, 06 Jul 2008 05:19:48 GMT

I agree with you, but be happy they don't charge sales tax on the lottery tickets! That'll be next.

Reply #11

dvdiva — Sat, 05 Jul 2008 02:37:54 GMT

I think it's long over due that there is no federal tax on lottery winnings from state run games. We are the only country regressive enough do to this. There is also no state income tax in WA state but they have plenty of other taxes.

Reply #10

justxploring — Thu, 03 Jul 2008 23:56:48 GMT

Florida has no state income tax but you would still need to pay your state tax if you live in another state. The no tax only applies if you are a resident of FL when you win. (Of course there is always federal income tax due.) Florida is a lot like Texas and doesn't tax income or dividends. However, they make up for it in property taxes and other fees. The wages in FL are also comparatively lower.

Time*treat, there will definitely be some cannibalization, so I hope the Lotto Fantasy 5 jackpot... [ More ]

Reply #9

JimmySand9 — Thu, 03 Jul 2008 16:05:06 GMT

I lived in Florida for many years, and I can verify (or testify) that Florida has no state income tax.

Reply #8

justxploring — Thu, 03 Jul 2008 15:48:19 GMT

Funny - before I went to bed last night I sent an email to a friend saying I'm cutting down on lottery tickets.

Reply #7

time*treat — Thu, 03 Jul 2008 06:48:39 GMT

It does only work up to a point. As I posted in another thread, there's only so much lottery money out there; then the games (or coffeeshops) start to cannibalize each other.

Reply #6

Coin Toss — Thu, 03 Jul 2008 06:34:32 GMT

Well as for bringing money into the state Florida does quite well, and as far as I know Orlando is still the number one tourist destination in the world.

When the casino industry was getting into state after new state (which has stagnated now) they used the same kind of argument. What actually happened though was for all the promised monies coming into those states the reality was the boats were little money vacuums sucking the money up and sending it to Vegas and Atlantic City.

I think if... [ More ]

Reply #5

time*treat — Thu, 03 Jul 2008 06:06:43 GMT

If you're looking to bring/keep more money into the state, you might. A Wal-Mart (PowerBall) in your town (Florida) keeps people from going into the next town (Georgia) to shop at the Target (MegaMillions) there.

Reply #4

Todd — Thu, 03 Jul 2008 05:56:05 GMT

Reply #3

Coin Toss — Thu, 03 Jul 2008 05:01:00 GMT

I'm not sure why Florida is doing this, for a state lottery they get pretty decent jackpot amounts.

If you're a business owner in a community without a Wal Mart, you don't invite Wal Mart, right

Reply #2

ThatScaryChick — Thu, 03 Jul 2008 04:02:58 GMT

Yeah somebody started a thread about it here.

Reply #1

Guru101 — Thu, 03 Jul 2008 04:02:56 GMT

I wonder if there will be a matrix change now that another state has Powerball.

>> POWERBALL << Coming To Florida In Jan09

GuessWhat! — Thu, 03 Jul 2008 03:37:58 GMT

http://www.flalottery.com/inet/currentNewsContent.do?searchID=195301

Should follow FL lotto format with 52 advanced play SWEET !!!

http://www.flalottery.com/inet/lottoMain.do

Someone please verify FL has no ..............................NONE ...........................thats right I said NO STATE INCOME TAX(?)

thank you