TEXAS: Dallas woman wins $202.6 million Powerball jackpot

Reply #10

IPlayWeekly — Wed, 19 Nov 2014 14:10:20 GMT

I can bet she's not at her job and she's truly enjoying life. She not stuck in a cubicle saying yes sir, no sir. Different level, big time congrats

Reply #9

KY Floyd — Wed, 19 Nov 2014 07:26:18 GMT

Not sure how this affects situations like this one though, where the home state doesn't have an income tax. I think you still have to pay the taxes without a credit.

The practical effect is always paying the higher of the two state's tax rates. Since Texas has a rate of 0, she'll pay Missouri's rate. There's never a credit in the state where the ticket was purchased, so she'll owe Missouri income tax on the cash amount or each annual installment at whatever rate Missouri has for non-resident... [ More ]

Reply #8

PrisonerSix — Wed, 19 Nov 2014 03:16:22 GMT

Missouri would withhold state income tax on the jackpot and the winner would have to file a nonresident tax form in that state, but only the lottery winnings income since they have no other income from Missouri.

In my state, Louisiana, I can claim a nonrefundable credit on my state income tax form if I pay income taxes to another state and was a resident of Louisiana for the entire year. This amount would be deducted from the Louisiana tax liability, lowering what I'd have to pay in the st... [ More ]

Reply #7

LottoMetro — Tue, 18 Nov 2014 17:36:11 GMT

This is correct, unless the two states have a reciprocal agreement. But if you pay taxes in another state, you will receive a tax credit in your home state. Not sure how this affects situations like this one though, where the home state doesn't have an income tax. I think you still have to pay the taxes without a credit.

Reply #6

ThatScaryChick — Tue, 18 Nov 2014 17:19:56 GMT

I believe if you buy a winning ticket in one state and you reside in another state, you will have to pay taxes in both states.

Reply #5

dallascowboyfan — Tue, 18 Nov 2014 14:11:12 GMT

Congratulation to the winner.

Reply #4

RedStang — Tue, 18 Nov 2014 12:57:18 GMT

You usually do un-less you have the same amount of earned income there. All States have different rules.

Reply #3

PrinceRene — Tue, 18 Nov 2014 12:44:52 GMT

If the winner is from Texas and she bought the ticket in Missouri, will she need to pay Missouri taxes for winning the jackpot there

Reply #2

Shelby Mustang — Tue, 18 Nov 2014 12:44:47 GMT

oh wow so she wasnt even from Missouri. Cool hope she puts it to good use and make it last as long as she and her kids (if any) lives

Reply #1

prosperous — Tue, 18 Nov 2014 12:14:14 GMT

Yes, good luck with your new found wealth.

TEXAS: Dallas woman wins $202.6 million Powerball jackpot

eddessaknight — Tue, 18 Nov 2014 08:59:21 GMT

TEXAS: Dallas woman wins $202.6 million Powerball jackpot

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Good Luck with your new FORTUNA

_EDDESSA_KNIGHT