PLEASE HELP - regarding tax and lottories

Reply #6

CASH Only — Mon, 01 Nov 2004 21:17:15 GMT

Plus, the odds per US dollar are much better in UK Lotto.

Reply #5

Todd — Sat, 23 Oct 2004 13:13:16 GMT

Knowing the taxes can help if you want to choose one single game to play based on the highest jackpot.Someone may see the Powerball jackpot at $20 million and UK Lotto at $10 million and incorrectly decide to play Powerball. The informed lottery player will know that not only does the UK not take out taxes, but they also pay the entire jackpot as lump-sum cash.Therefore, the $10 million UK Lotto jackpot, which is paid as lump-sum, tax-free cash, is larger than the Powerball jackpot, which after... [ More ]

Reply #4

st.germain — Sat, 23 Oct 2004 12:55:32 GMT

Who really cares about taxes....If you were to win a jackpot, you would gladly pay the taxes just so that you can get your hands on the money. Could it be that you did win some large jackpot and am trying to scam your local government out of the tax due

Reply #3

Todd — Thu, 21 Oct 2004 17:37:32 GMT

lola23,I'm interested to learn why the tax issue is so important to you.To answer your question, UK Lotto, Euro Millions, and El Gordo (as offered by the services on the left side of the page) do not have taxes withheld. That's because they are bought in the UK and Spain, which do not subtract taxes from lottery prizes.That is not to say that your particular country will not withhold taxes if you bring the money into your country.The US lotteries would have US government taxes withheld - normal... [ More ]

Reply #2

lola23 — Thu, 21 Oct 2004 13:54:19 GMT

Is it a crime to be a new meme

Reply #1

fja — Wed, 20 Oct 2004 13:52:18 GMT

carefull, new member, first post, and after I read it, the hair on the back of my neck stood up!!!! I dont think you want to get to close to this one..........

PLEASE HELP - regarding tax and lottories

twisted — Wed, 20 Oct 2004 13:35:51 GMT

Euro Millions - Lump sum, no tax. (dont know if you would have to pay tax in South Africa on it)Mega Millions - Annuity/Lump sum (your choice after you win but some states ask you to make the choice when you play), federal and state tax.Powerball - Annuity/Lump sum (your choice after you win), federal and state tax.UK Nation Lottery - Lump sum, no tax. Someone else double check.