|Posted: October 10, 2005, 3:41 pm - IP Logged|So, if you play straights this week, make sure they are .50 cent plays x2.
Dollar straight will make it $600 if you hit and there went your 20% increase. If anyone knows different about this week, like the store will pay you $600 without having to go downtown, uptown, or overthere, let us know. Haven't seen it anywhere as of yet.
Q.Are State & Federal Taxes withheld on Georgia Lottery Prizes?
A.Yes. All Georgia Lottery prizes are subject to applicable federal and state withholdings, and state and federal income taxes. The GLC reports to the IRS and Georgia Department of Revenue the names of winners of prizes of $600 and above. Georgia state income tax of 6% and federal income tax of 25% are withheld from prizes of more than $5,000 at the time the prize is claimed. Additionally, the GLC is required to check for and deduct any outstanding child support payments, student loans and state taxes for prizes of $5,000 and above, net of wager or ticket cost.