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How would you cash them?

One at a time so as to avoid taxes

[ 37 ]

[ 77.1% ]

At the lottery office - I always pay my taxes

[ 5 ]

[ 10.4% ]

At the lottery office - Too Chicken to get caught

[ 6 ]

[ 12.5% ]

Total valid votes

[ 48 ]

Discarded votes

[ 3 ]

HoLeeKau

Idaho
United States
Member #94,277
July 17, 2010
2,528 Posts
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Feb 26, 2013, 5:44 pm

Say you had 200 separate pick 3 tickets, each worth $500 for a total of $100,000. After state and fed taxes, most of us would wind up with $70K or less, putting a pretty big dent in our windfall. Would you have the guts to cash each one separately to avoid the taxes? Or would you be afraid of getting caught by the IRS?

If you'd cash them separately, what steps would you take to avoid getting caught and indicted for tax evasion?
maringoman

Massachusetts
United States
Member #37,432
April 14, 2006
2,747 Posts
Offline

Feb 26, 2013, 5:52 pm

As much as I hate taxes I like to do things by the book. Besides most stores rarely have over $500 cash. Secretly cashing 200 of those gems would not be easy.

That money's gone fo ever
HoLeeKau

Idaho
United States
Member #94,277
July 17, 2010
2,528 Posts
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Feb 26, 2013, 6:05 pm

Quote: Originally posted by maringoman on Feb 26, 2013
As much as I hate taxes I like to do things by the book. Besides most stores rarely have over $500 cash. Secretly cashing 200 of those gems would not be easy.

No, you couldn't cash more than one at a time at the same store. Not only do they normally not have that kind of cash, but you risk a snoopy clerk deciding to turn you in.

The best I can figure is you'd have to go from store to store, cashing one at each store. Then wait a few days or a week, then go at a different time of day when there are likely to be different clerks on duty. But you still risk getting caught on camera over and over and over.
Set4life

East Hampton, NY
United States
Member #41,994
June 25, 2006
1,137 Posts
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Feb 26, 2013, 6:11 pm

Quote: Originally posted by HoLeeKau on Feb 26, 2013
No, you couldn't cash more than one at a time at the same store. Not only do they normally not have that kind of cash, but you risk a snoopy clerk deciding to turn you in.

The best I can figure is you'd have to go from store to store, cashing one at each store. Then wait a few days or a week, then go at a different time of day when there are likely to be different clerks on duty. But you still risk getting caught on camera over and over and over.

Your wrong, you can cash as many as you like, as long as they have enough to pay you. Ive cashed in over 15 tickets, in one store. No issues here.

$$

FOR THE WIN!
HoLeeKau

Idaho
United States
Member #94,277
July 17, 2010
2,528 Posts
Offline

Feb 26, 2013, 6:20 pm

Quote: Originally posted by Set4life on Feb 26, 2013
Your wrong, you can cash as many as you like, as long as they have enough to pay you. Ive cashed in over 15 tickets, in one store. No issues here.

Call me paranoid, but I think you're lucky you didn't have a clerk who decided to get a reward from the IRS and copy down your license plate and send video of you to the IRS. I dunno, maybe I'm the only who runs into people who try to insert themselves into my bidness.
Angelsdaddy

United States
Member #139,567
February 26, 2013
2 Posts
Offline

Feb 26, 2013, 6:46 pm

In America. You can cash them all in at once. No taxeS. I've cashed in 40 pick 3 box tickets at once. No taxes
Toni Love6

LAUREL, MD
United States
Member #125,419
March 28, 2012
114 Posts
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Feb 26, 2013, 7:26 pm

I thought that if its under $500 or $600 per ticket, its not taxed. Each one is separate.

And at Super Lotto Agent Stores, they can definitely cash more than a couple of tickets.

Here in Maryland, some agents can cash up to $25,000 I believe. The one I got to can only do up to $5,000.

But thats a lot of stores to go to. Just cash them as you need money I guess.
d1nnl2

CHERRY HILL, NJ
United States
Member #130,205
July 9, 2012
387 Posts
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Feb 26, 2013, 7:35 pm

A winning ticket is just like currency. I know people who have won big prizes and got the tickets off their hands in fear of the IRS. Of course, like anything in ebay, it has to be sold at a discount.
helpmewin

100

u$a
United States
Member #106,658
February 22, 2011
19,967 Posts
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Feb 26, 2013, 7:40 pm

Quote: Originally posted by Set4life on Feb 26, 2013
Your wrong, you can cash as many as you like, as long as they have enough to pay you. Ive cashed in over 15 tickets, in one store. No issues here.
helpmewin

100

u$a
United States
Member #106,658
February 22, 2011
19,967 Posts
Offline

Feb 26, 2013, 7:44 pm

a girl in Indiana won $300,000.00 on P3
grwurston

100

Same digits. Different games.

United States
Member #90,245
April 24, 2010
17,074 Posts
Online

Feb 26, 2013, 7:58 pm

Quote: Originally posted by Toni Love6 on Feb 26, 2013
I thought that if its under $500 or $600 per ticket, its not taxed. Each one is separate.

And at Super Lotto Agent Stores, they can definitely cash more than a couple of tickets.

Here in Maryland, some agents can cash up to $25,000 I believe. The one I got to can only do up to $5,000.

But thats a lot of stores to go to. Just cash them as you need money I guess.

$600 or less can be redeemed at any retailer. $5,000 or less can be redeemed at the agent plus locations. Any thing over that you have to go one of the 2 lottery offices. If the retailer has the cash they will cash as much as you have in winners. If they don't, the stores I go to will ask me to come back the next day and they will cash them.

Before you play there are 2 choices to make. Low sum or high sum and consecutive pair or no consecutive pair. Choose correctly and you go from 120 combos down to 30. Not a bad starting point.
dallascowboyfan

Oklahoma
United States
Member #82,387
November 12, 2009
6,374 Posts
Offline

Feb 26, 2013, 8:04 pm

I agree with maringoman, " as much as I hate taxes I like to do things by the book".

I Love Pink & Green 1908
sully16

25

Ringleader

Michigan
United States
Member #81,736
October 28, 2009
162,650 Posts
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Feb 26, 2013, 8:48 pm

Here in Michigan anything under 500 is tax free, since all those tickets come in single bets, and you have a year to cash them in, I would bid my time and cash them slowly.
7cityreppa

Spotsylvania, VA
United States
Member #5,510
July 8, 2004
145 Posts
Offline

Feb 26, 2013, 8:55 pm

Here in Virginia you have 180 days to cash in a winning ticket. Whenever I hit for a big sum of money on pick3/4, I usually cash my tickets in at a grocery store because they always have money.
rdgrnr

100

The Hall Of The Mountain Kings Tennessee
United States
Member #73,901
April 28, 2009
15,378 Posts
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Feb 26, 2013, 8:57 pm

Quote: Originally posted by HoLeeKau on Feb 26, 2013
Say you had 200 separate pick 3 tickets, each worth $500 for a total of $100,000. After state and fed taxes, most of us would wind up with $70K or less, putting a pretty big dent in our windfall. Would you have the guts to cash each one separately to avoid the taxes? Or would you be afraid of getting caught by the IRS?

If you'd cash them separately, what steps would you take to avoid getting caught and indicted for tax evasion?

Are you saying that "a friend" (wink wink, nudge nudge) (say no more, say no more) of yours has these tickets?

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