If a Church Turned In the Winning Ticket
January 18, 2004
|Posted: January 18, 2004, 5:28 am - IP Logged|
... would they have to pay federal or state taxes? Are 501c(3) corporations exempt from Lottery winnings? Has this ever been done?
June 30, 2002
|Posted: January 18, 2004, 8:00 am - IP Logged|
I doubt a church would ever turn in a lottery ticket because to some parishoners the lottery is considered gambling and the church would look hypocritical.
Even some of the churches that Jack Whittaker wanted to "tithe" to rejected his payments because of this.
January 16, 2004
|Posted: January 18, 2004, 8:06 am - IP Logged|
... insert witty quote here ...
... My behavior and apperance betrays my age ... but I'm good enough ...
besides, people in person would still be afraid to talk to meh, even if I had millions ^^;
October 31, 2003
|Posted: January 18, 2004, 8:09 am - IP Logged|
Lottery playing is only hypocritical when preachers/priest/parishioners feel that the lottery player is taking monies away from the churches. But, let that someone win the lottery big and give some of the winnings to the church. Bet they will take the monies then. Is the church not being hypocrital still???? Double Standards!
April 6, 2003
|Posted: January 18, 2004, 8:30 am - IP Logged|
If a non-profit group would claim a ticket, they would still need to provide their F.E.I.N. (Federal Employer ID Number), just as a group of individual "for profit" poolers would... I don't think the W-2G has a concession for 501c(3) corporations. It requires claiming if the amount won exceeds $600 or 300 times the original bet... You would probably need to consult a tax attorney to know for sure.
Playing more than one ticket per game is betting against yourself.
January 18, 2004
|Posted: January 19, 2004, 3:44 pm - IP Logged|
Yes, Mana, let's open it up to non-religious 501c(3)'s. Has one ever claimed a lottery?
Hypersonic has a good point regarding the W-2G, however, the monies would be refunded at the end of the year if the 501c(3) had no tax liability?
There's probably a law regarding the Lottery or we would have seen someone claim one in the name of a tax exempt entity. There's a LOT of tax money to be saved.
January 20, 2004
|Posted: January 20, 2004, 8:57 pm - IP Logged|
I agree with bigmoney on this, if a tithe is payed from lottery winnings the church will take it with a smile. so i guess if the money comes from a member of the congregation and not directly from the lottery its okay, so really its about the channels from which the money is given to the church................anyway why would a member of said congregation be buying lottery tickets in the first place.
July 15, 2002
|Posted: January 23, 2004, 5:33 pm - IP Logged|
What if a person anonymously donated the ticket to the church? Do you still think they would turn it down?
If you know your number is going to hit, have patience and then KILL IT!
You never know when you will get another hit.