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lottery taxes

Topic closed. 3 replies. Last post 3 years ago by RedStang.

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United States
Member #171
April 7, 2002
181 Posts
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Posted: March 2, 2014, 12:27 pm - IP Logged

Someone told me if I purchased a winning powerball ticket while on vacation in Connecticut i would have to pay taxes to CT. and NY where I currently reside. Is this true?

    maringoman's avatar - images q=tbn:ANd9GcTbRxpKQmOfcCoUqF2FyqIOAwDo7rg9G-lfJLAALPGWJWwiz19eRw
    Massachusetts
    United States
    Member #37433
    April 14, 2006
    2747 Posts
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    Posted: March 2, 2014, 12:37 pm - IP Logged

    You will obviously pay CT state taxes first. Then if NY has state taxes higher than CT taxes then you'll pay the difference in state taxes. For example if I won in NH where they don't tax lottery winnings and MA has 5% tax then I'll end up paying no taxes to NH and 5% tax to MA.
    Had NH had a 3% tax then I'd pay 3% to NH and 2% to MA.
    Good luck!

    That money's gone fo ever

      mightwin's avatar - questns

      United States
      Member #103786
      January 5, 2011
      486 Posts
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      Posted: March 2, 2014, 4:05 pm - IP Logged

      Every place is different, some states have reciprocity agreements and give a credit to taxes paid to other states. Or taxes are withheld and you have to file a non resident return to get the taxes paid back.

        RedStang's avatar - tallman zps6gf4inoc.jpg
        NY
        United States
        Member #121961
        January 21, 2012
        3159 Posts
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        Posted: March 3, 2014, 12:14 am - IP Logged

        Non Virginia residents don't have to pay taxes unless they earn more then 11k in Virginia. I hit a 1k scratcher there and just learned this from my aunt who is a cpa. Weird stuff.