What is the tax situation in Puerto Rico?Prev TopicNext Topic

• LuckyGabe

  

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  Jul 19, 2023, 7:44 am

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  I noticed that Puerto Rico Loto Cash has been steadily growing and also saw that you can play PowerBall there so I was curious to know how much tax you pay there... turns out its ZERO according to some news articles I have read but I am not too sure those are accurate. It may be the language barrier but I cannot find any trustworthy info about this topic

   

  Anybody knows about this?
• Think

  

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  Jul 19, 2023, 9:11 am

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  I'm not sure but I vaguely recall that they don't have to pay U.S. income tax on it but they do have to pay something like 20% there.  I'd have to blow the dust off on that one to remember what it actually is.
• KeyKey3

  

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  Jul 20, 2023, 2:43 am

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  Hola!

  For Powerball and Loto Cash you have to pay taxes.
• LuckyGabe

  

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  Jul 20, 2023, 12:42 pm

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  Do you know how much and what sort of tax it is? Is it like income tax? or do they withhold it?
• Soledad

  

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  Jul 25, 2023, 9:16 am

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  It's an interesting question. They pay the 20% tax initially, which I believe is a state tax. But whether or not they pay the additional federal tax on top of that is a question mark. One would think that the source of the money, even though the ticket was purchased in puerto rico, the majority of the money from the winnings would have to be from outside puerto rico. There's a couple of stories of big winners from PR. Something about a third of 564 million, and then one lump payment of 101 million. I don't know, I'm not a CPA. To be honest, if I had a boatload of money, I would think about moving to Puerto Rico. It's paradise.

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• LuckyGabe

  

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  Jul 25, 2023, 11:55 am

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  That is for PowerBall but what about their own lottery; La loteria electronica de Puerto Rico. Do you think that one is also subjected to federal tax on top of the 20% Puertorican tax?
• grwurston

  

  100

  Same #'s. Different games.

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  Jul 30, 2023, 2:17 am

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  In response to LuckyGabe

  Quote: Originally posted by LuckyGabe on Jul 19, 2023

  I noticed that Puerto Rico Loto Cash has been steadily growing and also saw that you can play PowerBall there so I was curious to know how much tax you pay there... turns out its ZERO according to some news articles I have read but I am not too sure those are accurate. It may be the language barrier but I cannot find any trustworthy info about this topic

   

  Anybody knows about this?

  Click on USA MEGA, select Jackpot Analysis. Select filing status and scroll down to P.R.

  
• LuckyGabe

  

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  Jul 31, 2023, 11:50 am

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  But this is to check for state tax which I knew PR doesn't have. What I am wondering is do they have to pay federal or ANY other type of tax, this is not clear at all