U Lucky Canadian Bastards !

Question

I just read on an earlier post that Canadians do not get taxed on Gambling Wins !? &#xD;&#xA;&#xD;&#xA;To bad you pay 50 % or more on your earnings every year though.&#xD;&#xA;&#xD;&#xA;If someone in the U.S. won that money, they would have to pay around 40% for Federal and 8 % State.&#xD;&#xA;&#xD;&#xA;Is that correct?  Any CPA&#x27;s out there?&#xD;&#xA;&#xD;&#xA;By the way, YOU THE MAN Tuppy! ||an_clap.gif&#x27; border=0>

GGully · Answer

I just read on an earlier post that Canadians do not get taxed on Gambling Wins !? &#xD;&#xA;&#xD;&#xA;To bad you pay 50 % or more on your earnings every year though.&#xD;&#xA;&#xD;&#xA;If someone in the U.S. won that money, they would have to pay around 40% for Federal and 8 % State.&#xD;&#xA;&#xD;&#xA;Is that correct?  Any CPA&#x27;s out there?&#xD;&#xA;&#xD;&#xA;By the way, YOU THE MAN Tuppy! ||an_clap.gif&#x27; border=0>

T100 · Answer

wrong&#xD;&#xA;only about 33% on earnings&#xD;&#xA;and tuppy didnt GAMBLE anything he won a contest

thehorn1 · Answer

acctually in the states gambling would be concidered earnings  minus what you spent to win it and then be taxed on the rest. winning would be subjected to a luxury tax just like the powerball lottery at about just under half

U Lucky Canadian Bastards !

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