Lottery

I don't know how it works in USA and other countries but in Canada when you win at lottery, the amount you get is not taxed. If you won 10 000 000$ you get 10 000 000$ in your pockets. But I know that the $$ interest you'll make on that money will be taxed by the government.

Isn't it great to win a lottery in Canada? I like that its considered "non-taxable" income. If you invest it right, you'll never have to worry about the tax they put on the interest either.

A: Take everything now, and pay the government almost half.
B: Recieve a fair amount of the money each month for many months, until you recieve your whole prize. This way, the government doesn't take anything, but it's also not as fun...

Still, it's a bummer :\

Even if you take it month to month it increases your INCOME and you are thusly taxed an INCOME tax. Also, the lump sum isn't the lump sum either. If you win say 10 million dollars you are only entitled to about 5 million (based on how much the bonds that back the 10 million are actually worth). Then once you have taken your 5 million you get taxed. Your take home is usually more than half of that, but for sake of this example you would get 2.5 million. It's usually better to do it this way because you can invest that money and make back the rest that you would have given up. Also, lotto winnings are non transferable, so if you die, that's it. No more monthly payments.

After I found out I'm only going to win 2.5 million, I would go straight home and hang myself. F**k million... =)

Leave it to me in your will Buddy ol pal

it's still a bummer..

Don't buy any lottery tickets. If you don't want to share big money , you get no money!! Just something to think about link

your excelency for beeing a retard,I bough down to your inteligence!!!i would really love to find out how smart you and scissordick are in a general culture contest! that would really make my day...