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British Columbia Lottery taking bets on US electionReply
Still waiting trump! Please release your taxes! What kind of business man are you, release your taxes. What are you hiding? Release your taxes! How much debt do you have, $300 million or $600 million? Show your taxes! What kind of factory jobs are you going to bring back when a lot of factories are automated or going automated. SHOW YOUR TAXES!
Aug 27, 2016, 2:40 pm - bigbear29 - Lottery News

POWERBALL CREATES WORLD'S FIRST BILLION-DOLLAR JACKPOTReply
It is almost a billion for the annuity after taxes. Every state has different taxes and some states don't tax the lottery such as mine which is PA and $975,000,002 AFTER taxes. They advertise the amount before taxes because that is the amount they pay before taxes come in and take their cut.
Jan 10, 2016, 6:55 am - sirbrad - Lottery News

N.J. Lottery goes from zero to highest tax rate in the USAReply
@LotteryGuy: I see you deleted your post, but I just thought I'd mention that federal taxes are the same for all states. The only difference is with the state portion of taxes. Also, in some cases, such as New York City, there are additional local taxes, on top of the state and federal taxes. Even so, the new N.J. taxes exceed those.
Jul 3, 2009, 1:40 pm - Todd - Lottery News

$50.3M lottery prize to be split 4 waysReply
The USA loves to tax. They tax taxes!! some states don't even have State taxes but we do here in Oklahoma. Taxes, taxes, taxes!
Feb 24, 2009, 10:45 am - kamvick - Lottery News

Ga. maintenance man wins Mega Millions lottery jackpotReply
The first sentence of your advice is almost certainly incorrect. Tax laws will be slightly different in each state, but the purpose of states' tax laws are to get what they can, and they've had years to figure all the angles and tweak the laws to their advantage. For the most part, if you earn income while living in a particular state you will owe tax on that income. You don't owe taxes because you claim a lottery prize, you owe taxes because you win a lottery prize. In some cases you may be a
Sep 22, 2006, 1:46 pm - KY Floyd - Lottery News

Virginia lottery winner badly in debtReply
Yes, you would have to pay taxes on income made by investments, but not on the original money you invested, since you already paid taxes on that.>Can someone tell me about the taxes on lottery? For instance, if you 3million, you pay federal and state taxes and then you decide to invest the money which will you give a return of 3%. Do you continue to pay taxes on the money that you invested and the return ? Thank you.
May 3, 2004, 12:12 pm - tg636 - Lottery News

Lottery Winner Sentenced For Failing To Pay TaxesReply
In Ky you can request that they take the taxes out otherwise the only other way I know of that they will take taxes is if you owe back taxes.
Nov 3, 2005, 1:56 pm - KyMystikal - Lottery News

Lottery winners celebrate Mega-divorceReply
Quote: Originally posted by nomoneybabe on April 12, 2005Hello folks !! If I won the lottery and paid all taxes, then I give my mom 1Million. Does she have to pay tax on that again ??Just ask to know!!Unfortunately, she would have to pay taxes. Do your research. If it's a gift over 10 grand, the recipent may have to pay taxes. You may find you're better off having your mom claim the winnings with you. That way, you would only pay taxes on (using this case as an example) $29 million and you
Apr 13, 2005, 1:26 am - sergiou2 - Lottery News

$290 MILLION:" Mega Millions lottery jackpot increasedReply
I forgot to mention in my post above that the taxes you would pay on an annuity vs. a lump sum are based on two different amounts. $290 million for the annuity and $165 million for the lump sum so naturally you will pay more taxes on the annuity. I thought I would mention this to fair in my analysis. I was just looking at it in terms of just paying taxes on winnings regardless of what the winnings may be. Even though $290 million is much more than $165 million, I would feel a heck of a lot bette
Jul 3, 2004, 12:02 am - whodeani - Lottery News

Powerball lottery states report brisk sales for huge jackpotReply
Not necessarily. I went to the link on usamega.com that was referenced in the article and saw the state by state breakdown of what the winner would get after taxes. One thing I noticed was several of the states were marked No State Tax on Lottery Prizes which to me implies the state either has no state income tax at all or does not charge state income tax on lottery winnings. In the case of tickets purchased in these states, the state gets nothing in taxes if a lottery winner from any state
Oct 15, 2005, 7:07 pm - PrisonerSix - Lottery News