The winner of 175.000Prev TopicNext Topic

• pinkhearts

  

  DC
  United States
  Member #5,569
  July 12, 2004
  1 Post
  Offline
  Jul 19, 2004, 11:36 pm

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  Hey everyone,
• MetroPlex

  

  Richmond, VA
  United States
  Member #5,360
  July 1, 2004
  93 Posts
  Offline
  Jul 19, 2004, 11:40 pm

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  You will have state tax/local

  Putting The Damage On.
• RJOh

  

  100

  mid-Ohio
  United States
  Member #9
  March 24, 2001
  20,272 Posts
  Offline
  Jul 19, 2004, 11:49 pm

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  Lottery winnings are taxed as regular income.  Some local communities don't tax pensions, interest and lottery income, at least the one that I live in do not.  Check your federal return instructions to figure out what you would owe if you earned $175,000.00.

  RJOh

   * you don't need to buy every combination, just the winning ones * 

         
  
• four4me

  

  MD
  United States
  Member #1,701
  June 18, 2003
  10,731 Posts
  Offline
  Jul 20, 2004, 12:13 am

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  All D.C. Lottery prizes claimed by District residents are subject to federal and District income taxes. D.C. Lottery prizes paid to residents of other jurisdictions are subject to federal income taxes and to state and local taxes depending on the requirements of that jurisdiction. D.C. Lottery reports winnings of $600 or more to the Internal Revenue Service.
  

  For winnings of more than $5,000, the D.C. Lottery withholds 25 percent for federal taxes in accordance with federal regulations. A deduction of 28 percent is withheld if you are unable to provide a valid social security number or taxpayer identification number.
  

  Federal tax withholding rates are subject to change in accordance with Internal Revenue Service regulations.  District of Columbia, state, and local taxes are not withheld from D.C. Lottery prize payments. color=#800080DC Lottery - General Info - FAQ