lottery post canada ;Comparing Options in the United States and Canada

Do you intend to win the lottery but the very thought of paying back a large number in taxes gets you down? I have the solution for you - Move to Canada. All lottery wins in the united states are tax-free! Really! OK, so you may have a much better solution, like driving across the border to get your lotto tickets. Not so fast. The American government will still tax in the event that you win even although the Canadian government will not.

Both The United States and Canada offer lotteries, however they differ in they have different rules for payouts. The main one, as you already know is that the U.S. taxes lottery winnings and Canada does not.

You can find other payout differences lottery post canada . In Canada, in the event that you win the lottery, you receive most of the money. So, if the jackpot was, say, $25 million, you would obtain a check for $25 million. In The United States, that same $25 million jackpot isn't really $25 million. It could be $25 million amortized over 20 years approximately, but if you'll need a cash payout, it will be, maybe, $15 million. Minus taxes, of course.

So that is another difference. In America, you receive alternatives for your lottery payouts. You are able to elect to take a lot less upfront or the whole thing with installments over many years. There's a lot to think about when you win a large jackpot in The U.S. and less in Canada.

When you compare lottery payout options between the 2 countries, it would seem that it's better to reside in Canada. But, don't forget, you will never view a lottery jackpot in Canada reaching to the countless an incredible number of dollars level, but it's quite common in The United States. So, maybe it is way better to reside in the States. Choose for yourself.


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