How much in taxes is owed on a one million dollar foreign raffle draw in Louisiana?

Updated: 9/15/2023

Wiki User

∙ 15y ago

Best Answer

Taxed at your ordinary income rate, which varies person by person, based on other income, deductions, dependents, losses, State rate, city rate, etc., etc. You understand that "winning a foreign lottery" is one of the most common frauds/scams that are found don't you?

Wiki User

∙ 15y ago

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Why Does Unclaimed Money Exist?

You may have heard that there is unclaimed money out in the world that no one is using because the person who should own the money does not know it exists and the person who has it is busy looking for them. Have you ever stopped to consider what this could mean for you? Is there money out there right now that is supposed to be in your bank account, that would be in your account if those who are in charge of it could get in touch with you? When you are thinking about this, it is only natural that you would wonder why this money exists in the first place. One reason could be winnings that you do not know you won. For example, perhaps you signed up for a raffle at a local school. You filled out a card with your name and phone number, and you put it in a box. When you did not hear anything about it, you assumed that you did not win. What may really have happened, though, is that you might have written down the wrong phone number. The people running the raffle could still be trying to contact you. Another reason that unclaimed money could exist is if a relative of yours passed away and everyone forget to tell you that you were in the will. If you were a child at the time, it is rather likely that no one tried to explain the will to you. Your parents may have forgotten about the money as well. However, a will has to be followed. A trust will have been set up to make sure that the actions depicted in the will were carried out. You need to talk to the people who are running that trust. These are just two reasons why you could have unclaimed money that you need to get as soon as possible. Does it sound a bit more plausible now? You need to act quickly to make sure that you do not lose the money forever. You a money locator to enter your name and check on the status of your money.

How can I make raffle tickets?

Raffle tickets can be made and printed at Raffle Printer for free, Hall Print Mail, and Ticket Printing. Most have customizable options for your convenience, but you can also buy them locally at any dollar store.

Is the Giga Buzz Billion dollar raffle real?

yes man. I hope you signed up.

How do you say raffle in french?

The French word for raffle is tombola.

When you have a illegal raffle and sell tickets and get checks for the raffle tickets and you cash the checks and the raffle was cancelled would that be fraud?

If you don't return the money, most definitely. And there are likely to be penalties for running an illegal raffle.

Do you need a license to hold a raffle?

It depends on what type of raffle you are holding. If you are holding a small raffle only with family and friends you usually don't need a licence. But if you are holding a big raffle with your community you will usually need a licence.

Is a raffle legal in New Mexico?

if you want to have a raffle is it legal in state New Mexico

When is raffle day on animal crossing for GameCube?

Raffle day is always the last day of every month. But be careful: no shopping or selling on raffle day (and if you unlocked Nookington's no going upstairs), and you must have 5 tickets for one chance at a prize.

What is the highest price paid for sports memorabilia?

2.8 million Honus Wagner baseball card once owned by Wayne Gretzky and given away in a raffle by Walmart.

What could raffle tickets be used for?

raffle tickets can be used for money in charities, fundraisers, and other things for $$$$$$$$$$$$$$

How do you get raffle tickets in Animal Crossing?

on the last day of the month you take them to nook's to get a chance at a prize

Is the Raffle's flower poisonus?

No

Can you raffle auto in SC?

no