TAX???!!!

[mzzsarah12]

Ok so we all know you have to take tax out if you win the lotto for the government, but isn't that money already taxed technically? I mean you pay taxes out of your check then you buy a ticket with that taxed money and they still take taxes out. And yeah if I won big time money with the lotto I really wouldn't care its just a question. Why pay taxes on the lotto when its already bought with taxed money? How much tax is to much.

[candyterrius]

Regardless if you won the lottery or won money from a casino, they are still taxable if the amount is over $600.00. It is the tax law. 

[angelmines]

Ok so we all know you have to take tax out if you win the lotto for the government, but isn't that money already taxed technically? I mean you pay taxes out of your check then you buy a ticket with that taxed money and they still take taxes out. And yeah if I won big time money with the lotto I really wouldn't care its just a question. Why pay taxes on the lotto when its already bought with taxed money? How much tax is to much.

Personali dont think that the government should tax the money that they but out. They make these lotto games and they want to put our hard working money into it but they are taxing the very money that is going twards the lolto. They clame you won't win unless you play but wht for when you taxing the money that the government is giving us.

[Joeyramone]

Lotto winnings are earnings... the same as wages or investment income.

Why would or should it not be subject to taxation?

An unfair tax is the death/inheritance tax where the value of the entire estate is taxed when transferred to the beneficiaries.  People lose the family home, farm, or business over that one.

[krissi79]

  that is a great question.. Email that to the goverment..l

[hawkeye3210]

Your lottery winnings would be new income, which hasn't been taxed.

[sigmapi1501]

Lotto winnings are earnings... the same as wages or investment income.

Why would or should it not be subject to taxation?

An unfair tax is the death/inheritance tax where the value of the entire estate is taxed when transferred to the beneficiaries.  People lose the family home, farm, or business over that one.

An estate tax only effects an estate valued over 100 million dollars

[jasom]

You know they are going to take every bit they can get their greedy little hands on.

[hawkeye3210]

Lotto winnings are earnings... the same as wages or investment income.

Why would or should it not be subject to taxation?

An unfair tax is the death/inheritance tax where the value of the entire estate is taxed when transferred to the beneficiaries.  People lose the family home, farm, or business over that one.

An estate tax only effects an estate valued over 100 million dollars

Actually it is $5.12 million for federal estate tax in 2012, and is scheduled to drop to $1 million in 2013.

[ktheodos]

I mean....of course the more money you make the more they take.....(should we get into this whole rich, tax argument again?), then again, if I won the lottery, idk how much I would complain....

[dmahoney]

Does that mean they tax the money we make here on fushion cash? How doe we turn that in? 

[jordandog]

Does that mean they tax the money we make here on fushion cash? How doe we turn that in? 

That only applies here if you make over $600 in a year. If that happens, you will be given the forms to report it on your taxes, since FC will have already reported it on their end.

[blondie71]

I think we are taxed alot.  But really there is nothing we could do about it.  I guess we all have to live with it.

[Azanne07]

Regardless if you won the lottery or won money from a casino, they are still taxable if the amount is over $600.00. It is the tax law. 

No the casino winnings (i used to work at a casino) the taxation comes in once you hit 1200. It might be different from state to state but thats what it is here.

the state and federal governments need out money