Sadly only a hypothetical question, but here it goes: If you suddenly gained a large sum of money (several million $/€/whatever) by winning the lottery, some inheritance or anything else, how coul...
Lottery winnings are payed by States/State-run corporations and as such sourced to the State that pays it. Buying a ticket in SC links you to the lottery run in that State, even if you live in another.
taxes - If someone lives in one state and purchases a winning lottery ...
A main issue is whether the lottery ticket is considered to be merely documentation of a prize that one has already won, or whether it's an asset in its own right that can be exchanged for lottery winnings.
united states - Donating winning lottery ticket to 501 (c)3 Private ...
Suppose I purchase a lottery ticket today () and win $25K. If I wait a few weeks and redeem the ticket after Jan 1, are the taxes due based on income in this year (2015) or next year (2...
united states - Are lottery winnings taxed based on the ticket date or ...
Lottery tickets have an extremely-high likelihood of paying nothing, but in the cases where they do pay out, the returns are also extremely-high. How does this differ from actual investing?
The crucial difference between winning the lottery and "winning the insurance" (by having a damage event) is that the insurance gives you the big check at the time where you need it the most. Transfering this to a lottery ticket, what you are buying with the ticket is hope.