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RE: North Carolina lottery winner has 30% of winnings taken for taxes

in Informationwar11 months ago

If you won $100K at a casino the government is going to take 30% of that too (at least). Lottery winnings are treated like any other gambling winnings with regards to taxation. In Florida, there is no state income tax so I don't think you have to worry about taxes in that regard but you'll still owe the IRS. Lotteries are state run and not exempt from Federal taxes. I'm not sure how states with income taxes treat lottery winnings but it wouldn't surprise me if they take their cut too.

The lottery is basically a tax on the poor.

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The lottery is basically a tax on the poor.

Indeed. I don't know anyone who is financially successful that plays the lottery.