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Massachusetts $20 scratcher.

Topic closed. 3 replies. Last post 9 years ago by rdc137.

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Harbinger
D.C./MD.
United States
Member #44103
July 30, 2006
5583 Posts
Offline
Posted: June 26, 2007, 11:22 am - IP Logged

What is up with Mass. there something on Fox News about it right now.  They aren't selling

http://www.masslottery.com/ 

$20M top prize!

Some guy from Boston was saying that the state lotteries are dying because of casinos and people wanting instant gratification, really?

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    Delaware
    United States
    Member #30273
    January 14, 2006
    494 Posts
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    Posted: July 11, 2007, 10:13 am - IP Logged

    People in Taxachusetts probably can't afford to buy more lottery tickets with those high taxes in that state. Green laugh(Seriously people of Mass, you guys voted against repealing the state income tax!?)

     

    Massachusetts Lottery seems to be the sleeping giant of lotteries. I hear of many people who don't live near the state, but wish they could play its lottery. They seem to have a nice collection of scratch-offs that I wish I could acquire.


      United States
      Member #7962
      October 19, 2004
      27 Posts
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      Posted: August 6, 2007, 12:33 am - IP Logged

      MA has the best lottery in the country from what I read (as far as revs are concerned). They did lower the prize money % when the Republicans took over the lottery.

      However, MA taxes haven't been super high in years.

      Compare:

      CA - 9.3% on taxable income of $43,468 and above. California's minimum combined state, county and local sales and use tax increased to 7.25 percent (6.25 state-only portion)

      MA - A 5.3% rate that applies to wages, interest and dividends and long-term capital gains. 5% sales tax. 

      DE - 5.55% on taxable income between $25,001 and $60,000 and 5.95% on taxable over $60,000. No sales tax.

      NY - 6.85% on taxable income of $20,001 and above. State Sales tax rate is 4 percent. Local rates vary, meaning the combined sales tax rate could be more than 7 percent in some areas.

      CT - For married filing jointly taxpayers and surviving spouses, 3% on the first $20,000; 5% on the remaining income. For head of household taxpayers, 3% on the first $16,000; 5% on the remaining income. Connecticut levies a 6 percent state sales tax on the retail sale, lease or rental of most goods.

      FL - Florida residents pay no personal income tax. 6% Sales tax.

      IL - Illinois taxpayers calculate their state liability by multiplying income by a flat rate, currently 3 percent. Illinois' sales tax rate for general merchandise is 6.25 percent. A reduced rate of 1 percent applies to qualifying food, drugs and medical appliances.

      Cheers

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        Delaware
        United States
        Member #30273
        January 14, 2006
        494 Posts
        Offline
        Posted: August 6, 2007, 2:07 am - IP Logged

        MA has the best lottery in the country from what I read (as far as revs are concerned). They did lower the prize money % when the Republicans took over the lottery.

        However, MA taxes haven't been super high in years.

        Compare:

        CA - 9.3% on taxable income of $43,468 and above. California's minimum combined state, county and local sales and use tax increased to 7.25 percent (6.25 state-only portion)

        MA - A 5.3% rate that applies to wages, interest and dividends and long-term capital gains. 5% sales tax. 

        DE - 5.55% on taxable income between $25,001 and $60,000 and 5.95% on taxable over $60,000. No sales tax.

        NY - 6.85% on taxable income of $20,001 and above. State Sales tax rate is 4 percent. Local rates vary, meaning the combined sales tax rate could be more than 7 percent in some areas.

        CT - For married filing jointly taxpayers and surviving spouses, 3% on the first $20,000; 5% on the remaining income. For head of household taxpayers, 3% on the first $16,000; 5% on the remaining income. Connecticut levies a 6 percent state sales tax on the retail sale, lease or rental of most goods.

        FL - Florida residents pay no personal income tax. 6% Sales tax.

        IL - Illinois taxpayers calculate their state liability by multiplying income by a flat rate, currently 3 percent. Illinois' sales tax rate for general merchandise is 6.25 percent. A reduced rate of 1 percent applies to qualifying food, drugs and medical appliances.

        Cheers

        Of all those states you listed DE has the lowest tax burden. Despite the tax rate being higher than MA's, DE has a zero tax rate and high deductables, plus also no car tax (or whatever you guys call it)and much lower property taxes.