Speaking of lotteries
So, stories like this make me wonder if Tennessee municipalities are pondering taxing the winnings from the recently established (today) lottery.
So, stories like this make me wonder if Tennessee municipalities are pondering taxing the winnings from the recently established (today) lottery.
Remember, I do this to entertain me, not you.
Uncle Pays the Bills
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January 20th, 2004 at 6:00 pm
It won’t be long, assuredly. The big cities will go first.
January 21st, 2004 at 12:31 am
The lottery winnings already face a tax. A winning above $600 is subject to a 6% “privilege” tax. That revenue goes to the state, will likely raise millions of dollars, and it is not subject to the same constitutional restrictions that other lottery revenue is subject to.
In other words, lawmakers have a slush fund 🙂