State income tax rates

Reply #7

keystonechas — Sun, 09 May 2004 12:56:26 GMT

I always caution folks to check their state income tax law carefully. Don't buy a Powerball ticket in another state when they sell them within your own. You may end up with a needless tax bill.Chas

Reply #6

hypersoniq — Sun, 09 May 2004 12:45:33 GMT

good point.

Reply #5

keystonechas — Sun, 09 May 2004 12:19:17 GMT

Quote: Originally posted by hypersoniq on May 09, 2004PA exempts winners from state AND local taxes on lottery winnings for PA residents.Only if those winnings were won on games within the state.If the winnings come from another state, you pay Pa state income tax.I know, since for the past three years I paid Pa income tax on slot winnings from Delaware park. $1,200 or above they give you a W2-G form right there on the spot. Chas

Reply #4

hypersoniq — Sun, 09 May 2004 11:57:10 GMT

PA exempts winners from state AND local taxes on lottery winnings for PA residents.

Reply #3

DoctorEw220 — Sat, 08 May 2004 16:44:03 GMT

yeah. for example, PA and WV do not deduct state raxes from winnings

Reply #2

Todd — Sat, 08 May 2004 16:32:56 GMT

That list doesn't include what states deduct taxes from lottery prizes.For example, although your list has New Jersey at 6.37% above $75,000, they do not tax lottery winnings at all, so you only have to pay Federal taxes.There are several other states like that.

Reply #1

keystonechas — Sat, 08 May 2004 16:03:22 GMT

Gee thanks for reminding me why my butt hurts all the time!How many states have a inhertance tax or what we fondly call the death tax in the state of Pennsyvania? If your related by blood or marriage expect to pay around 4%. If not blood related the state has its hand out for around 12%.Chas

State income tax rates

Thomas Covenant — Sat, 08 May 2004 15:31:44 GMT

The following states levy no income tax on earned income and no income tax on unearned income (interest and dividends): * Alaska * Florida * Nevada * South Dakota * Texas * Washington * WyomingThe following states levy no income tax on earned income however they do levy income tax on unearned income (interest and dividends):* New Hampshire 5% tax on dividends interest above $2,400* Tennessee 6% on all dividends interest.The following states levy the following MAXIMUM inc... [ More ]