give the ticket to a minorPrev TopicNext Topic

• equifax

  

  ohno
  United States
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  December 8, 2003
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  Dec 9, 2003, 6:36 pm

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  if you win any large amount of
• Rebeckah

  

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  January 24, 2003
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  Dec 10, 2003, 10:11 am

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   last I checked any citizen of the US must pay taxes on everything they earn, regardless of their age. If you try & hold TLC to the no tax boo boo I bet the feds will make the minor pay. :)  Just more proof of the level of TLC's level of competance.  ;)
• johnritter

  dfw
  United States
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  December 10, 2003
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  Dec 10, 2003, 7:16 pm

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  the lottery commission sets up a trust fund and take out no taxes..sister. read the book its in the book
• dvdiva

  

  United States
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  September 17, 2003
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  Dec 10, 2003, 9:39 pm

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  1. the lottery does not set up trusts it buys an annuity if you choose that option

  2.all u.s. lotteries have 27% (or more) withholdings per federal law. true if they purchase an annuity the tax is not applied at that point. If its a cash option than 27% is withheld then or in an annuity 27% is held out of each per annum check.
• Jorli D

  

  25

  Michigan
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  October 4, 2003
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  Dec 10, 2003, 10:21 pm

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  Can minors play lottery in Texas? I don't believe so.
• johnritter

  dfw
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  December 10, 2003
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  Dec 10, 2003, 10:54 pm

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  it sets up a trust fund because its a minors ticket dummy!!!!!minors cannot play lottery!!!!!!!!!!!!!but they can recieve a winning ticket!!!!!!!1 call the lottery and ask them
• CASH Only

  United States
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  June 5, 2002
  11,296 Posts
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  Dec 16, 2003, 9:13 am

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  Probably the only situation where I "could" support a mandatory annuity is if the ticket is given to a minor...provided the minor could "withdraw" his/her winnings on his/her 18th/19th/21st birthday, whichever is the legal age to buy tickets for that state's lottery.

  As for federal withholding, it's now 25%.