Live in SC, Play in Ga, Move to FlPrev TopicNext Topic

• Thomas Covenant

  

  South Carolina
  United States
  Member #491
  July 16, 2002
  837 Posts
  Offline
  Jul 24, 2002, 11:57 am

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  Which state gets the taxes?

  
  Okay, now I believe you can predict lottery numbers
• CASH Only

  United States
  Member #379
  June 5, 2002
  11,296 Posts
  Offline
  Jul 24, 2002, 12:49 pm

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  The timing of the move matters.
• Thomas Covenant

  

  South Carolina
  United States
  Member #491
  July 16, 2002
  837 Posts
  Offline
  Jul 24, 2002, 12:52 pm

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  I move to Flordia after I win the 1 billion dollar mega millions.

  
  Okay, now I believe you can predict lottery numbers
• JAP69

  

  South Carolina
  United States
  Member #6
  November 4, 2001
  8,969 Posts
  Offline
  Jul 24, 2002, 6:10 pm

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  Good question,
  I lived in N.Y. worked in Vt. My legal residence was N.Y. I paid Vt state taxes on weekly deductions. When I filed my taxes I had to file in Vt. and N.Y. both. For the sake of percentages it went like this. Vt tax 3% paid that in full to Vt. N.Y. tax 5% My tax in N.Y. I was allowed 3% deduction from 5% and paid N.Y. 2% in taxes being a legal resident of that state.
  Moving to Fla may not make a difference after winning as the date of the win may be considered the date of your legal residence at the time.
  Winning that kind of money you can hire a good tax man.
  My Question:
  You play in a pool of ten people. You hit it big. Only one signature is allowed on a ticket. Who signs and who pays the taxes.
  John
  
  
  

  Numbers are where you find them.
• Sandy K

  

  Clarkston, Michigan
  United States
  Member #76
  January 6, 2002
  8,528 Posts
  Offline
  Jul 24, 2002, 6:22 pm

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  John, from my understanding, you need to consult a good attorney and set up a corporation or a trust or something with everyone's name........with an executor......he signs but the corporation pays the taxes and it is divided as agreed on.

  Sandy