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$71,000.00 Win In Pick-3 In VA

Topic closed. 9 replies. Last post 11 years ago by pacattack05.

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mswiz777's avatar - Lottery-061.jpg
Va Beach
United States
Member #532
August 2, 2002
17736 Posts
Offline
Posted: March 25, 2006, 12:33 am - IP Logged

This man in VA played 142 time's on a pick-3 number go to VA web-page and read it.  www.valottery.com

    Tenaj's avatar - michellea
    Charlotte NC
    United States
    Member #17406
    June 18, 2005
    4053 Posts
    Offline
    Posted: March 25, 2006, 12:37 am - IP Logged

    Hurray!Awesome!

    takeemtothebank

      four4me's avatar - gate1
      MD
      United States
      Member #1701
      June 18, 2003
      8364 Posts
      Offline
      Posted: March 25, 2006, 12:43 am - IP Logged

      yep if your gonna go big ---- go all the way!

      Big John says. You don't hit the number. The number hits you!!!!

                     I'm not Big John, I'm Four4me, Big John's a friend.
        dumars798's avatar - batman17
        Atlanta
        United States
        Member #28656
        December 20, 2005
        5675 Posts
        Offline
        Posted: March 25, 2006, 12:49 am - IP Logged

        NOW THAT'S WHAT I'M TALKING

        ABOUT!!!BIG BIG MONEY WTG!

                Smart bets...... Equal Phat Pocket$!

                             

                     





          Blackie's avatar - Norfolk 20Sunrise%20Nov%2016.jpg
          Norfolk , Va
          United States
          Member #4541
          May 2, 2004
          25100 Posts
          Offline
          Posted: March 25, 2006, 12:49 am - IP Logged

          He must have cashed them all at the same time. I'll bet he was taxed pretty heavy. I think I would have cashed them one a day or even two a day at different times. No tax below 600 bucks.

           

           Good Luck,

          Blackie.                           

            Litebets27's avatar - power
            Maryland
            United States
            Member #10465
            January 14, 2005
            6065 Posts
            Offline
            Posted: March 25, 2006, 1:32 am - IP Logged

            Cool, real cool. Congratulations for doing something that we all dream about and doing it successfully.

            litebets

            Feeling,  PRICELESS!!!Banana

            Come on Jackpot!!!

              Avatar
              Poway CA (San Diego County)
              United States
              Member #3489
              January 25, 2004
              14120 Posts
              Offline
              Posted: March 25, 2006, 2:21 am - IP Logged

              He must have cashed them all at the same time. I'll bet he was taxed pretty heavy. I think I would have cashed them one a day or even two a day at different times. No tax below 600 bucks.

              At the risk of getting flames my way (I'm used to it!!), I will comment on this.  I believe that you will find every penny of income you receive is to be reported to the IRS and your state (if your state has income tax).  Below $600 there is not the Federal requirement that the Federal tax be withheld.  The IRS has rules in place to make sure they get their money.  If someone wins $600 or more, they know that if the tax was not automatically withheld, the person would not claim it and the IRS would lose collecting that money.  If you win less than $600, then the IRS does not know about it (maybe!!), but I think you will find that if you read your 1040 booklet carefully about what income is to be reported, you will find the word "all" in there someplace!

              When I owned a business where I collected sales tax and paid it to the State of California, I had to have copies of all the laws and they kept me up-to-date with any changes.  One of the laws was that if you purchased something from outside of California via a catalog or internet, etc., you are required to pay the sales tax to the State of California.  I seriously doubt that ANYONE does that, but it is still the law. 

                Amazing Grace's avatar - lion
                rainbow lake
                Canada
                Member #25177
                November 2, 2005
                10764 Posts
                Offline
                Posted: March 25, 2006, 2:33 am - IP Logged

                I guess were lucky in Canada we dont pay tax on lottery winnings.

                I think its bull.

                All the money that goes into lottery has been taxed once already by your hard work you do daily.

                So to me its double dipping on the govts part.

                Do you get to claim losses on all your losing tickets?

                  Avatar
                  Poway CA (San Diego County)
                  United States
                  Member #3489
                  January 25, 2004
                  14120 Posts
                  Offline
                  Posted: March 25, 2006, 2:36 am - IP Logged

                  I guess were lucky in Canada we dont pay tax on lottery winnings.

                  I think its bull.

                  All the money that goes into lottery has been taxed once already by your hard work you do daily.

                  So to me its double dipping on the govts part.

                  Do you get to claim losses on all your losing tickets?

                  Yes, you can claim losses (with proof) up to the amount you won for the year.

                   


                    United States
                    Member #17555
                    June 22, 2005
                    5582 Posts
                    Offline
                    Posted: March 25, 2006, 7:00 am - IP Logged

                    He must have cashed them all at the same time. I'll bet he was taxed pretty heavy. I think I would have cashed them one a day or even two a day at different times. No tax below 600 bucks.

                    At the risk of getting flames my way (I'm used to it!!), I will comment on this.  I believe that you will find every penny of income you receive is to be reported to the IRS and your state (if your state has income tax).  Below $600 there is not the Federal requirement that the Federal tax be withheld.  The IRS has rules in place to make sure they get their money.  If someone wins $600 or more, they know that if the tax was not automatically withheld, the person would not claim it and the IRS would lose collecting that money.  If you win less than $600, then the IRS does not know about it (maybe!!), but I think you will find that if you read your 1040 booklet carefully about what income is to be reported, you will find the word "all" in there someplace!

                    When I owned a business where I collected sales tax and paid it to the State of California, I had to have copies of all the laws and they kept me up-to-date with any changes.  One of the laws was that if you purchased something from outside of California via a catalog or internet, etc., you are required to pay the sales tax to the State of California.  I seriously doubt that ANYONE does that, but it is still the law. 

                    Why would anyone in their right mind cash the tickets at the lottery office, unless the numbers are printed five at a time like new york and maybe some other states do?

                    I would cash 5 or 6 tickets at a supermarket, and just go around Florida looking for as many supermarkets until I was done. How will the IRS find out?