give the ticket to a minor

Reply #6

CASH Only — Tue, 16 Dec 2003 14:13:44 GMT

Probably the only situation where I could support a mandatory annuity is if the ticket is given to a minor...provided the minor could withdraw his/her winnings on his/her 18th/19th/21st birthday, whichever is the legal age to buy tickets for that state's lottery.As for federal withholding, it's now 25%.

Reply #5

johnritter — Thu, 11 Dec 2003 03:54:31 GMT

it sets up a trust fund because its a minors ticket dummy!!!!!minors cannot play lottery!!!!!!!!!!!!!but they can recieve a winning ticket!!!!!!!1 call the lottery and ask them

Reply #4

Jorli D — Thu, 11 Dec 2003 03:21:23 GMT

Can minors play lottery in Texas? I don't believe so.

Reply #3

dvdiva — Thu, 11 Dec 2003 02:39:01 GMT

1. the lottery does not set up trusts it buys an annuity if you choose that option2.all u.s. lotteries have 27% (or more) withholdings per federal law. true if they purchase an annuity the tax is not applied at that point. If its a cash option than 27% is withheld then or in an annuity 27% is held out of each per annum check.

Reply #2

johnritter — Thu, 11 Dec 2003 00:16:34 GMT

the lottery commission sets up a trust fund and take out no taxes..sister. read the book its in the book

Reply #1

Rebeckah — Wed, 10 Dec 2003 15:11:07 GMT

last I checked any citizen of the US must pay taxes on everything they earn, regardless of their age. If you try hold TLC to the no tax boo boo I bet the feds will make the minor pay. :) Just more proof of the level of TLC's level of competance.

give the ticket to a minor

equifax — Tue, 09 Dec 2003 23:36:36 GMT

if you win any large amount of