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tax information

Topic closed. 4 replies. Last post 12 years ago by Bingo Long.

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New Member
new city, new york
United States
Member #11697
February 21, 2005
2 Posts
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Posted: February 21, 2005, 3:49 pm - IP Logged

help - i am new to this form and i need info.  My mom won $754.00 (big deal) on a 4 out of 5 take five ticket.  Since it is over $600.00 she needs to mail in her ticket to receive her winnings.  She is 91 years old and is retired.  Will they take the tax out of her check immediately.  The vendor told her that because she is retired she wont have to pay tax.  Does this mean her check will come with the tax removed and then she claims it on her income tax to get the tax back???

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    New Member
    new city, new york
    United States
    Member #11697
    February 21, 2005
    2 Posts
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    Posted: February 21, 2005, 3:53 pm - IP Logged

    Forget to say I am from New York

      Todd's avatar - Cylon 2.gif
      Chief Bottle Washer
      New Jersey
      United States
      Member #1
      May 31, 2000
      23277 Posts
      Online
      Posted: February 21, 2005, 3:57 pm - IP Logged

      I don't believe they withhold tax on anything less than $5,000, but a simple call to the NY Lottery will clear that up.

       

      Check the State Lottery Report Card
      What grade did your lottery earn?

       

      Sign the Petition for True Lottery Drawings
      Help eliminate computerized drawings!

        Todd's avatar - Cylon 2.gif
        Chief Bottle Washer
        New Jersey
        United States
        Member #1
        May 31, 2000
        23277 Posts
        Online
        Posted: February 21, 2005, 3:57 pm - IP Logged

        BTW, congtrats to your mom!

         

        Check the State Lottery Report Card
        What grade did your lottery earn?

         

        Sign the Petition for True Lottery Drawings
        Help eliminate computerized drawings!

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          MA
          United States
          Member #11452
          February 14, 2005
          74 Posts
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          Posted: February 24, 2005, 2:00 pm - IP Logged

          Federal taxes only get withheld at $5k, but you get a W2 at $600. State taxes may be withheld lower (in MA it's 5% at $600).