If you are considering buying tickets from the Colorado lottery and you are a resident of Colorado then here are some pointers. Did you know that if you win the big prize you will have to pay 34% in taxes? This means that if you win one million dollars they will only pay out $660,000 which you will receive over a period of 25 years. In other words you will receive only $26,400 every year and this translates as $2200 a month.
Of course if the main prize is $5 million, this means you will receive $11,000 per month for the next 25 years which I don’t think anybody will frown upon.
I don’t know about you but I would feel cheated. It’s interesting to note that in most other countries your lottery winnings would not be submitted to taxes, although the interests you will receive on your capital will have to be declared.
There is a way around this, although it will be practically impossible to avoid paying the taxes if you played on the Colorado lottery. If you want to avoid paying taxes altogether, you should consider playing a lottery outside your home state, preferably even outside the US.
Thanks to online lottery agents this has become possible. Instead of playing the Colorado lottery that extracts a prohibitive tax on winnings, you could invest your lotto budget with any of the European state lotteries. If you win the big prize, your online lottery agent will ask you for a bank accounts to which you would like your prize money to be paid out.
Let’s imagine you win the big prize of the Italian lottery. Your prize money would amount to some hundred million dollars. Would you feel like forking over $34 million to the state of Colorado? I don’t know about you but $34 million is a lot of money to give away to squabbling politicians. And with this kind of money you can afford the most expensive Fiduciary services imaginable.
Some people will say that playing online lotteries is not safe. These days that is not true anymore. Of course you should do your due diligence and do your online lottery check before you play or spend any money but if you go to a site such as thelotter com, you will find a reliable online lottery service.
Other people will say that playing lotteries is the same as volunteering to give your money away to the state. The irony here is that it is a lot easier to give away a small sum of money to the state for the chance of winning a big prize, then to lose money to taxes that are extracted by law. Benjamin Franklin was right in stating that there are only two sure things in life, namely death and taxes.
Aside from all that, it is interesting to note that if you play through an online lottery agent, you will receive rebates if you are a regular customer. This means you will play more for less money. Online lottery agents are able to do this because they have less overheads.
