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Re: The guy who won the Mega Millions last night:

By: Decomposed in 6TH POPE | Recommend this post (0)
Thu, 10 Aug 23 2:33 AM | 31 view(s)
Boardmark this board | 6th Edition Pope Board 		Msg. 44905 of 60008
(This msg. is a reply to 44904 by Decomposed)
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Here's what nh.gov has to say about New Hampshire taxing lottery winings:


In 2009, a 10% tax was enacted upon any and all gambling winnings. RSA 77:38, III defines "gambling winnings" as winnings from lotteries and games of chance including, but not limited to bingo, slot machines, keno, poker tournaments, and any other gambling winnings subject to federal income tax withholding. For New Hampshire residents, the Gambling Winnings Tax is a tax upon all gambling winnings derived from anywhere. For non-New Hampshire residents, the tax is imposed upon gambling winnings from New Hampshire entities. The New Hampshire Lottery Commission and the New Hampshire Charitable Gaming and Racing Commission are required to withhold all tax due and payable to the state from any payout of gambling winnings. If the tax has not been withheld by the New Hampshire Lottery Commission and the New Hampshire Charitable Gaming and Racing Commission, the taxpayer is required to pay the tax directly to the State. Payment of the tax is made by the taxpayer with the filing of the Gambling Winnings Tax return on or before April 15th.

In 2010, Chapter 371, Laws of 2010, effective July 23, 2010, an exemption was created for gambling winnings won prior to January 1, 1999 and distributed in annuity payments.

http://www.nh.gov/transparentnh/glossary/gambling-tax.htm




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Gold is $1,581/oz today. When it hits $2,000, it will be up 26.5%. Let's see how long that takes. - De 3/11/2013 - ANSWER: 7 Years, 5 Months


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The above is a reply to the following message:
Re: The guy who won the Mega Millions last night:
By: Decomposed in 6TH POPE
Thu, 10 Aug 23 2:04 AM 		Msg. 44904 of 60008

ribit:

Re: “...just for grins and giggles, does anyone know how much the California State Tax would have been on this as opposed to florida no state income tax?” I don't think it falls under income. It falls under winnings from gambling. Most states, even New Hampshire, have a gambling tax.





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