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Topic closed. 19 replies. Last post 11 years ago by Chewie.

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new delhi
India
Member #22145
September 20, 2005
174 Posts
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Posted: November 9, 2005, 3:06 am - IP Logged

Well, I don't know about the USA, but in India you are allowed to receive any amount of money as a gift from a natural born sibling...so if someone was to win it here and wanted to bring it into the country they could legally do it through these means and again not pay any tax on it. However, for any lotto won here, it 40% tax!

    anonymous77's avatar - moon
    Seoul
    Korea, South
    Member #21859
    September 16, 2005
    346 Posts
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    Posted: November 11, 2005, 6:15 pm - IP Logged

    It seems there sure is one Euro Millions winner - Spanish(?). Anyway, Congratulations! 

    8 weeks ago both EM and MM were hit on the same night - 93M in France and 250M in NJ.

    I am just wondering what would happen to Mega Millions tonight.

     

    Good luck, everyone!

      Todd's avatar - Cylon 2.gif
      Chief Bottle Washer
      New Jersey
      United States
      Member #1
      May 31, 2000
      23259 Posts
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      Posted: November 11, 2005, 6:35 pm - IP Logged

      Let's hope we get the same pattern of a New Jersey winner! Wink

       

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

       

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

        Shawnintennesse's avatar - British Pint_414_.jpg
        Springfield,Ohio
        United States
        Member #14006
        April 19, 2005
        3972 Posts
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        Posted: November 11, 2005, 6:50 pm - IP Logged

        Well no matter what anyone does theres going to be the IRS and most likeley your state in you pocket.

        Theres something called the gift tax. If your freind gives you a million bucks tommorow. You have to pay taxs on it.

        Your not going to get out of them. And if you do. You'll probably be in prison like Al Capone for tax evasion..LOL

        If it weren't for Vtracs and STXS where would we be?

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          Sparta, NJ
          United States
          Member #18331
          July 9, 2005
          1977 Posts
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          Posted: November 11, 2005, 8:47 pm - IP Logged

          One thing about taxe laws, for every one written, another was written to get around it.  Lawyers and rich politicians wrote the laws.  They always make sure there is an out.  You just have to be able to afford the out.  I never heard a multi-millionaire going broke over taxes, only mis-management of taxes.

          Cheers

          |||::> *'`*:-.,_,.-:*''*:--->>> Chewie  <<<---.*''*:-.,_,.-:*''* <:::|||

          I only trust myself - and that's a questionable choice