$100K Meme

[pyat]

From velvetpage. if $100K landed in your lap (lottery) what would you do with it?

1.2 million mechanically separated chicken and pork wieners.

Comments

[foomf.livejournal.com]

Yeah, actually, you DO pay taxes on lottery winnings. Federal for sure. State if it's not one of those supported by the state.

http://www.fool.com/taxes/2002/taxes020920.htm

[anidada.livejournal.com]

Not here! :)

[foomf.livejournal.com]

Still depends on the lottery. If you win a US based lottery you will be taxed the federal portion (because they're moneyvampires). They will take it before you get the payment.

If I won a Canadian lottery I would be required to pay taxes on it. (I'm totally surprised that it wouldn't be subject to VAT.)

[pyat.livejournal.com]

GST, I think you mean - VAT is British. Same thing, though.

[anidada.livejournal.com]

By VAT do you mean GST? No. (http://www.olg.ca/lotteries/guide/international_residents.jsp) You'd probably have to deal with US tax stuff, but not Canadian.

[foomf.livejournal.com]

Yeah, that's the one.

[thebitterguy]

Whatever. Foreign countries.