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Lottery tickets are a "bearer intrument"

Topic closed. 17 replies. Last post 11 years ago by CASH Only.

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Do you sign your tickets before the draw?

Yes, always! [ 5 ]  [11.90%]
Yes, usually. [ 2 ]  [4.76%]
Sometimes. [ 1 ]  [2.38%]
No, Never. [ 17 ]  [40.48%]
I would sign it after, if the ticket wins. [ 12 ]  [28.57%]
I Didn't know what it is about? [ 0 ]  [0.00%]
I Haven't before, but will now. [ 1 ]  [2.38%]
I Haven't before, and still won't now. [ 2 ]  [4.76%]
I don't know what you are saying, even, still! [ 0 ]  [0.00%]
I don't really care, I just want to win! lol [ 2 ]  [4.76%]
Total Valid Votes [ 42 ]  
Discarded Votes [ 2 ]  
hypersoniq's avatar - 8ball
Pennsylvania
United States
Member #1340
April 6, 2003
2450 Posts
Offline
Posted: December 7, 2005, 5:37 am - IP Logged

I don't sign tickets that pay less than $500, since that's the tax-free cutoff, I believe.

I never won more than $100, so I haven't signed any yet... :-(

Playing more than one ticket per game is betting against yourself.

    Avatar
    Sparta, NJ
    United States
    Member #18331
    July 9, 2005
    1977 Posts
    Offline
    Posted: December 7, 2005, 11:32 am - IP Logged

    I wonder how an LLC works, if it is formed after the drawing.  The IRS might question that when it comes to any tax manipulation planned.  If the ticket was a multi-draw, say purchased in Novermber, and the winning draw was on December 5th, but the LLC was formed on December 8th.  Also, can the money from the lottery office be sent to an LLC account, regardless of the formed date? 

    Cheers

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

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


      United States
      Member #379
      June 5, 2002
      11296 Posts
      Offline
      Posted: December 7, 2005, 8:08 pm - IP Logged

      I don't sign tickets that pay less than $500, since that's the tax-free cutoff, I believe.

      I never won more than $100, so I haven't signed any yet... :-(

      $600.