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Supreme Being
Group: Forum Members
Last Login: 11/5/2008 1:06:37 AM
Posts: 192,
Visits: 113
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| I just read a news story on the front page about the taxman going after gamblers in a European country. It made me wonder-how is it where you are-do you have to pay tax on winnings?
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Supreme Being
Group: Forum Members
Last Login: 10/21/2008 7:35:05 AM
Posts: 190,
Visits: 103
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| I always thought it would depend on the city/town/country that you reside in. I know that when you win something here in the states (like a car for example) it is already taxed out and even if they say you will win 1mil. from a lotto thats before the taxes are taken out from the winnings.
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Supreme Being
Group: Forum Members
Last Login: 10/2/2008 6:35:16 AM
Posts: 80,
Visits: 44
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| In the US you are responsible for paying taxes on your winnings be it cash or cars. All contests have this fine print to tell you this which can be a hassle for someone who is cash poor and wins a car. However for most smaller prizes it is unlikely that the government will track you down to force you to declare the winnings.
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