Search

I accidentally called Federal Taxes fees. My bad. :)
So on YouTube, a Woman won $98,000 on a Slot Machine. I noticed that virtually none of the replies asked her how much she paid in Taxes. So I mentioned about a guy who had won about $126,000 and got $80,000 in take home Winnings and how Posters were disgusted and SHOCKED that $46,000 was taken out for Taxes. She replied, I paid about $3,000 in Taxes. I mentioned how cheap her Taxes were compared to the guy who had $46,000 taken out for Taxes. She replied something like, Yep, my State Tax
Dec 2, 2021, 6:42 am - Karen Nathan - Lottery Discussion Forum

Pick ONE big mistake Lottery Winners do...Reply
What I was trying to convey is that the Lottery Winners forget to pay the taxes on their Winnings, ie, they only pay their State Taxes and forget to pay the Federal Taxes which is big trouble when they get audited at Tax Time for not paying their Federal Taxes. The smart thing would be to ask upfront to take out the State Taxes and the Federal Taxes at the same time.
Jan 20, 2022, 6:09 pm - Karen Nathan - Lottery Discussion Forum

Someone won Mega Millions jackpot in Pennsylvania last nightReply
No state taxes, but you still have to pay federal taxes.
Jul 22, 2015, 1:19 pm - bigbear29 - Lottery Discussion Forum

Jackpot Estimation for Dec. 20th, and 24thReply
B4 taxes-999 mill. After taxes- 1.50
Dec 16, 2013, 8:45 am - RedStang - Lottery Discussion Forum

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

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

powerball taxes?
I'm a bit confused on the taxes and how it is calculated for 5+0 w/ pp(2,000,000.00). Here in ct the taxes are 25% and another 6.7%.now by my calculations on a 2 mil win minus those taxes the payout after taxes should be $1,399,500.00. But i noticed that the ct winner who won the 5+0 w/pp p(2mill) their take home payout was $1,366,001.00.i called the ct lottery office but the guy that answered the phone kind of just brushed it off as i was calculating it wrong. I don't see how math is math. We h
Dec 11, 2012, 9:21 am - kyokushin187 - Lottery Discussion Forum