If I live in a state that taxes prizes, but bought my ticket in a state with no tax on prizes, do I still need to pay state tax?
Yes, you do. Think of lottery prizes as regular earned income from a job. Just because you may work in a different state, that doesn’t permit you to get away with not paying state income tax in your state of residence. The lottery works the same way.
Whether it’s income from a job or income from gambling, the state where the money is won will tax the prize first at their out-of-state tax rate (assuming the state taxes lottery winnings). If your state of residence has the same or lower tax rate, then you won’t owe anything else. But if your state has a higher rate, you will get a credit for what you paid in the other state, and pay the difference to your state.
If the other state has no tax, you just pay the entire tax bill to your state.
The net result is that you end up paying whichever tax rate is higher between your state of residence and the state where you purchased the ticket. Of course, the tax law is quite complex and it’s possible that some condition or arrangement exists between the two states and a good tax attorney and/or accountant could discover a tax-saving loophole. That’s why we always recommend that major prize winners do not make any major decisions before first hiring a good legal and financial team.
One other option to consider, depending on how much in taxes you’re looking to save: the residency requirements as they relate to prize claims, state taxes, and income reporting. Since you aren’t responsible for paying taxes until you claim the prize, perhaps there is time to establish residency in the state where you purchased the ticket before the prize claim period expires. However, that is something you would definitely need to explore with an attorney before taking any action to assess the feasibility. You would also need to decide if it would be worth the risk of that important little piece of paper not getting lost, damaged, or destroyed in the time you spend arranging everything.
How to win Mega Millions
You can win the game in several ways.
Once you have decided to play a popular American lottery game, it’s time to pick the right numbers.
Those who don’t want to think about winning numbers will choose the QuickPick option.
QuickPick will randomly pick the numbers. Other players can select the winning combination on their own.
How will he do it? There are several ways to keep track of the latest Mega Millions results
Sometimes when you find out which numbers are most often drawn, you can get the inspiration for the winning combination.
Many have noticed that some numbers are repeated and they believe that they could win a lot of money.
On the other hand, there is a great chance that you will share the prize with other winners, if there are several identical numbers to repeat.
However, some will go with important dates in life.
If you choose this option make sure that the date you have chosen covers numbers from 1 to 75.
It’s important to keep track of the latest information to keep up with the news. Learn when the draw is to get tickets at the right time.
Finally, now that you know how to choose numbers, it’s time to play a lottery. Good luck!
Buying draw games can be as simple as these three little words…»Play It Again»!
You can now use existing tickets to purchase new tickets printed with your same favorite numbers! With the exciting new «Play It Again» feature, New Jersey Lottery retailers can simply scan your ticket to produce a new one for the same game, numbers, and wager amount.
- Available for Pick-3, Pick-4, Jersey Cash 5, Pick-6, CASH4LIFE, Mega Millions, Powerball, Quick Draw and CASH POP wagers.
- Replays the number of draws and boards, bet type, bet amount, Fireball (if orginally played), multiplier (if originally played), BULLSEYE (if originally played) and Instant Match wagers (issuing a new set of numbers).
- The feature will be available for the next draw, depending on when your ticket is purchased.
- Quick Pick wagers will be printed with the same numbers as the original wager.
- Tickets must be replayed within 30 days of purchase of the original ticket.
- Even previously validated and cancelled tickets can be replayed!
Take your tickets and head to your favorite lottery retailer today to «Play It Again»!
How to play Mega Millions
Mega Millions is a popular American lottery game you can play even if you don’t live in the United States, all thanks to lottomania.mobi.
This lottery game is popular for several reasons and its major prizes. Therefore it’s no small thing to say that the amount of jackpots is getting bigger and bigger.
However, if you decide to play, check first what you have to do. For instance is necessary to select 5 major numbers from 1 to 75.
Don’t forget to add Mega Ball from 1 to 15. In conclusion, you have to guess all the numbers.
Draws are every Tuesday and Friday night. Jackpot starts with $ 40 million.This popular game began in 1996, and the first draw was on September 6. Only 6 states such as Georgia, Illinois, Michigan, Maryland, Massachusetts, and Virginia participated.
Как распределяют денежный фонд лотереи
Организаторы Мегамиллионов — люди с опытом в лотерейном деле, до создания своего детища они работали в лотерейных компаниях штатов Джорджия и Вирджиния. Но, создавая новую лотерею, как бизнес, они проявили огромное благородство и поделили средства таким образом:
- 50% — призы и вознаграждения участникам;
- 15%- заработная плата распространителям;
- 35% — для правительств штатов-участников лотереи.
Средства, вырученные за продажу лотерейных билетов, правительства используют на свое усмотрение. В основном, для благоустройства городов.
В 2007 году незатребованным остался приз на сумму 31 миллион долларов. Победитель лотереи не явился за ним в течение отведенного времени, и миллионы разделили между штатами. Не удивительно, что государство испытывает уважение к организаторам лотереи и поощряет распространение билетов Мегамиллионов.