What is the tax situation in Puerto Rico?

Reply #7

LuckyGabe — Mon, 31 Jul 2023 15:50:27 GMT

But this is to check for state tax which I knew PR doesn't have. What I am wondering is do they have to pay federal or ANY other type of tax, this is not clear at all

Reply #6

grwurston — Sun, 30 Jul 2023 06:17:34 GMT

Click on USA MEGA, select Jackpot Analysis. Select filing status and scroll down to P.R.

Reply #5

LuckyGabe — Tue, 25 Jul 2023 15:55:04 GMT

That is for PowerBall but what about their own lottery; La loteria electronica de Puerto Rico. Do you think that one is also subjected to federal tax on top of the 20% Puertorican tax

Reply #4

Soledad — Tue, 25 Jul 2023 13:16:59 GMT

It's an interesting question. They pay the 20% tax initially, which I believe is a state tax. But whether or not they pay the additional federal tax on top of that is a question mark. One would think that the source of the money, even though the ticket was purchased in puerto rico, the majority of the money from the winnings would have to be from outside puerto rico. There's a couple of stories of big winners from PR. Something about a third of 564 million, and then one lump payment of 101 milli... [ More ]

Reply #3

LuckyGabe — Thu, 20 Jul 2023 16:42:38 GMT

Do you know how much and what sort of tax it is? Is it like income tax? or do they withhold it

Reply #2

KeyKey3 — Thu, 20 Jul 2023 06:43:21 GMT

Hola!

For Powerball and Loto Cash you have to pay taxes.

Reply #1

Think — Wed, 19 Jul 2023 13:11:56 GMT

I'm not sure but I vaguely recall that they don't have to pay U.S. income tax on it but they do have to pay something like 20% there. I'd have to blow the dust off on that one to remember what it actually is.

What is the tax situation in Puerto Rico?

LuckyGabe — Wed, 19 Jul 2023 11:44:51 GMT

I noticed that Puerto Rico Loto Cash has been steadily growing and also saw that you can play PowerBall there so I was curious to know how much tax you pay there... turns out its ZERO according to some news articles I have read but I am not too sure those are accurate. It may be the language barrier but I cannot find any trustworthy info about this topic

Anybody knows about this