All states Lottery...tax free

Reply #9

Wintariofan — Wed, 07 Mar 2007 02:31:32 GMT

NOT TRUE ! The reason Canada and our provincial games are tax free is that the GOVERNMENT runs the lottery and no outside operator. They advertise the jackpot as they are. The government takes its shares before the jackpot is determined. That's why you will never see a jackpot in Canada ever get to 100 million. The U-S advertises its prizes before any government intervention. It's not about funds...it's just the way each province (OLG, WCLC, Loto Quebec, ALC, BCLC) has been run since lot... [ More ]

Reply #8

Badger — Wed, 07 Mar 2007 01:51:49 GMT

Each state has its own Education Fund, which is composed of tax money. Just like they have a fund for spending on transportation, roadbuilding, etc. So however you look at it, the govt in the state gets the money they take from you and the Fed govt gets the money they take from you. They can then raid any fund they want (we got a governor here that constantly raids the transportation fund and gives it to the educational fuund because the teachers union here is a big campaign fund contributor

Reply #7

pumpi76 — Tue, 06 Mar 2007 21:20:35 GMT

What i don't like about tax is that they take half of your money if you win big...I feel it should be between 25% and 30%...

Also where does the money that they take from tax goes? Does it go into education or the government..?

MOre important than winning the state's lotteries is the movie REd Planet... ...

Reply #6

Badger — Tue, 06 Mar 2007 20:49:20 GMT

C'Mon Pac ! I've read enough of your posts to know you aren't that naive.

This is the USA man ! Land of the Big Spender politician ! If they can tax something anything at either the Fed or state or local level, they will. If they can't tax it, they will put a fee on it.

There is no incentive for our govt to not tax something like lottery winnings. What would they gain? Never mind that all the money that comes from the jackpot comes from the bets bought with already taxed money. We live... [ More ]

Reply #5

Coin Toss — Tue, 06 Mar 2007 15:39:06 GMT

There's a post somewhere on the board about the Australian lottery being $1.03 a ticket, and that's how the prizes are tax free - for the winner- everyone else who has played has 'pre-paid' the tax.

Not a bad idea at all. In most forms of gambling, the losers opay the winners (and the house keeps the 'vig') so why not carry that the other step and let the losers pay the tax? Makes sense to me.

Reply #4

jarasan — Tue, 06 Mar 2007 01:09:18 GMT

They also don't elect prima donnas with fat govt. pensions that just keep getting fatter every year. All local, state, and federal workers, officials, elected officials perpetuate the Jabba the Hutt tax collection scheme, so they can keep their precious pensions, overpaid jobs, and free health care for the rest of their lives. Everything is taxed one way or another, look at what just happened up in Michigan, a couple running their car on friggen vegetable oil are being harassed for being fuel p... [ More ]

Reply #3

dvdiva — Sun, 04 Mar 2007 20:59:12 GMT

Because these countries aren't run by idiots. Or at least idiots to a lesser degree. It's not a matter of afford/ not afford it's a matter of common sense. They realize that there are many different options for people to gamble on and offering tax free winnings makes state sponsored games very attractive.

Also tickets not cashed in go to the players in the form of bonus rounds or bigger jackpots. Government officials in the US are too stupid and greedy to do this as well.

Reply #2

LuckyLilly — Sun, 04 Mar 2007 19:38:25 GMT

Idaho didn't tax until they got an $80 million Powerball winner, then all the sudden they added up how much money they were losing, and implemented the tax. BTW at that time there was no cash option on the PB so the winner has to pay state taxes every year now when she gets her annuity even tho there was no state tax when she won. One more reason people in states that do not tax should consider taking the lump sum instead of annuity because there's a good chance their state will get greedy t... [ More ]

Reply #1

fbird — Sun, 04 Mar 2007 19:31:36 GMT

naw...that would never happen...our elected officials are too greedy, no matter the politcal party!!! Michigan's lottery, when it first started, did not tax the winnings and then someone decided that was a bad idea and they changed it so it was taxable income...pure greed

All states Lottery...tax free

pacattack05 — Sun, 04 Mar 2007 18:48:14 GMT

If the U.S. had a nation wide lottery, we could have jackpots that are tax free.

Why is it that the U.S. dosen't do this.

The only reason Austrailia, and Canada can afford to have a tax free lottery is because they have enough funds coming in to be able to do that.