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Teen told to clean room, finds winning lottery ticketReply
And over there they don't tax lottery winnings. Here the government (federal and or state) takes a cut when you buy the lottery and then again taxes you if you win anything more than $600. Then the year after you win if you dont consult an accountant then you might have to fork over some more money when you file for income taxes. You're not yet done. If you buy things with your double taxed winnings you end up paying sales taxes. Taxes taxes taxes, wtf!
Mar 5, 2012, 4:34 pm - maringoman - Lottery News

How much would it take to live your dream?Reply
3 million before taxes preferred but 1 million before taxes would do just fine.
Jul 11, 2007, 1:39 pm - stephi - Lottery Discussion Forum

Kentucky lottery winner donates entire prize to collegeReply
This story isn't any different than most as far as what it says about taxes, leaving it up to the reader to find out the truth on their own. Although it's in the fine print at the bottom of the page, you clearly say that the withholdings and the actual taxes owed are different things. Very few articles mention anything about the actual tax obligations, and many will say something along the lines of after taxes, the money would come to $7.6 million a year for 30 years or a lump sum of $110 mill
Jan 14, 2006, 2:17 am - KY Floyd - Lottery News

Audit: 3,000 NY lottery operators didn't pay state taxesNews Story
More than 3,000 New York retailers licensed to operate lucrative state lottery machines failed to pay their state taxes, according to an audit released Monday.State Comptroller Alan Hevesi said the lottery operators owed more than $23 million in unpaid taxes over two years ending in 2004, and 350 of the operators owed more than $10,000 each. Some of the operators did more than $1 million a year in lottery ticket sales.One New York City area retailer owned $43,504 in taxes while using his state l
Nov 1, 2005, 7:23 am - Todd - Lottery News

How much could you give away?Reply
$250M minus taxes, minus more taxes, minus additional taxes, and minus fees to help me pay taxes, results in tons of money I don't have now. The requirement, to pay pay those taxes outweighes not winning, thus not having to pay those taxes.Please Almighty Lotto God, put me in a position of that burden. Give me a chance to prove my worth to you.
Oct 11, 2005, 9:06 am - Chewie - Lottery Discussion Forum

winning a jackpotReply
Taxes or no taxes lump sum is better.
May 9, 2005, 4:37 pm - CASH Only - Lottery Discussion Forum

WARNING to NY Lottery playersReply
Yeah but it's 50m minus taxes...versus $27m minus taxes.
Feb 17, 2005, 4:33 pm - Annual Payments - Lottery Discussion Forum

Warning to big winners:
Even if you give it all away to charity, you will still owe taxes.Contrary to what you might have heard, there is no way to avoid paying taxes on lottery money when you win a big jackpot.Even if you give it all away to charity, you will still owe some taxes. In any state or jurisdiction in which lotteries are legal, the government takes its 28 percent off the top. Most lotteries leaves it up to the individual to pay the local taxes.Example: If a player wins $100,000, the prize after federal taxe
Jan 25, 2006, 6:02 am - goldrush - Lottery Discussion Forum

British Columbia Lottery taking bets on US electionReply
Donald Trump Lecture Americans For Not Paying Taxes: This weekend the New York Times detonated a bombshell by reporting that Donald Trump, using a loophole that benefits wealthy dynastic families, declared nearly a billion dollar loss on his 1995 tax returns a loss that possibly allowed him to avoid paying any federal taxes for 18 years. (The full impact of this loss is not publicly known because Trump has stubbornly refused to follow the traditional practice for presidential candidates relea
Oct 2, 2016, 4:07 pm - bigbear29 - Lottery News

POWERBALL CREATES WORLD'S FIRST BILLION-DOLLAR JACKPOTReply
Please excuse my ignorance, but I have a question about taxes that are 'held' by states. I don't know where else to post this question, so I am just going to ask it here. It is my understanding that the taxes held are 25% for Federal taxes and what ever your states income tax rate is, if there are state income taxes. Now, if I live in Florida, which has no state income taxes, but I bought the ticket in Georgia, which does have state income taxes, and a miracle happens and I win the Jackpot, will
Jan 10, 2016, 7:05 pm - OneTrickpony - Lottery News