Home
Forums
New posts
Search forums
What's new
New posts
Latest activity
Members
Current visitors
Log in
Register
What's new
Search
Search
Search titles only
By:
New posts
Search forums
Menu
Log in
Register
Install the app
Install
Home
Forums
Brown Cafe UPS Forum
UPS Discussions
Lottery Fever!
JavaScript is disabled. For a better experience, please enable JavaScript in your browser before proceeding.
You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an
alternative browser
.
Reply to thread
Message
<blockquote data-quote="pickup" data-source="post: 2878419"><p>I don't think moving is an option when it comes to reducing taxes ,even and especially with an annuity. </p><p>If a state has an income tax on lottery proceeds , you have to pay based on where the income was generated as well as the state where it is collected.</p><p></p><p>I used to go into New York City quite a bit and I sometimes bought lottery tickets there. I researched what the tax implications would be if I had won the mega millions or powerball jackpot and collected as a NJ resident.</p><p></p><p>I would have to pay the New York State income tax, the New York City income tax, as well as the New Jersey state income tax.</p><p></p><p>Still a nice problem to have.</p></blockquote><p></p>
[QUOTE="pickup, post: 2878419"] I don't think moving is an option when it comes to reducing taxes ,even and especially with an annuity. If a state has an income tax on lottery proceeds , you have to pay based on where the income was generated as well as the state where it is collected. I used to go into New York City quite a bit and I sometimes bought lottery tickets there. I researched what the tax implications would be if I had won the mega millions or powerball jackpot and collected as a NJ resident. I would have to pay the New York State income tax, the New York City income tax, as well as the New Jersey state income tax. Still a nice problem to have. [/QUOTE]
Insert quotes…
Verification
Post reply
Home
Forums
Brown Cafe UPS Forum
UPS Discussions
Lottery Fever!
Top