webfact Posted August 21, 2017 Share Posted August 21, 2017 Thai man wins 5 million dollars from California lottery game By Coconuts Bangkok Uthai Kaensupa, a Thai man living in the U.S., won USD5 million (THB177 million) from a scratch-off ticket on Aug. 17, 2017. Photo: California Lottery/ Facebook It’s not a secret that Thais love to try their luck by playing the lottery, and Uthai Kaensupa, a Thai man living in the U.S., was able to cash in on some luck when he won USD5 million (THB166 million) from a scratch-off ticket on Thursday. Uthai, who buys lottery tickets regularly, didn’t expect an epic win when he bought a Platinum Payout scratch-off ticket from a gas station in Los Angeles, he told Siam Town US on Saturday. Uthai, who currently lives with his sister, said he’ll use the money to buy his own house Full story: https://coconuts.co/bangkok/news/thai-man-wins-5-million-dollars-california-lottery-game/ -- © Copyright Coconuts Bangkok 2017-08-21 Link to comment Share on other sites More sharing options...
fforest1 Posted August 21, 2017 Share Posted August 21, 2017 I say forget LA..... Come back to Thailand and live like a king.... Link to comment Share on other sites More sharing options...
NCC1701A Posted August 21, 2017 Share Posted August 21, 2017 that is a lot of boom boom. Link to comment Share on other sites More sharing options...
rkidlad Posted August 21, 2017 Share Posted August 21, 2017 Well done. As a foreigner in Thailand, do I get the full amount if I win the jackpot for the Thai lottery? Link to comment Share on other sites More sharing options...
dcnx Posted August 21, 2017 Share Posted August 21, 2017 Good for him. Link to comment Share on other sites More sharing options...
Denim Posted August 21, 2017 Share Posted August 21, 2017 (edited) Thai man wins 5 million dollars from California lottery game. Then rushed out to get another 5 million dollars worth of tickets feeling he was on a roll Edited August 21, 2017 by Denim Link to comment Share on other sites More sharing options...
YoungBrit Posted August 21, 2017 Share Posted August 21, 2017 Enjoy! Link to comment Share on other sites More sharing options...
catman20 Posted August 21, 2017 Share Posted August 21, 2017 55 minutes ago, fforest1 said: I say forget LA..... Come back to Thailand and live like a king.... he will burn through that money quick enough Link to comment Share on other sites More sharing options...
George Bowman Posted August 21, 2017 Share Posted August 21, 2017 53 minutes ago, rkidlad said: Well done. As a foreigner in Thailand, do I get the full amount if I win the jackpot for the Thai lottery? Good question. I wonder what the law actually says. Link to comment Share on other sites More sharing options...
Bluespunk Posted August 21, 2017 Share Posted August 21, 2017 Who'd have thought it, a positive story about California... Link to comment Share on other sites More sharing options...
worgeordie Posted August 21, 2017 Share Posted August 21, 2017 There will be lots of begging letters from his "friends" in Thailand. regards Worgeordie Link to comment Share on other sites More sharing options...
mushroomdave Posted August 21, 2017 Share Posted August 21, 2017 In Taiwan foreigners are allowed to win and get the very same as the locals. Know this as just after introducing the 6/49 game, a Thai couple in a factory job outside Taipei won the big one and got the full amount owed.......but.....they had went screaming through their factory yelling / bragging and then disappeared for a few days.....guess their Taiwan boss locked them in a room until it was agreed he got "A LOT" more than their contract buyout clause stated!! And guess the cops let the kidnapping charge go too.....brown envelopes float around there also!!! Link to comment Share on other sites More sharing options...
ronrat Posted August 21, 2017 Share Posted August 21, 2017 Many sick buffalos coming up. Link to comment Share on other sites More sharing options...
JAFO Posted August 21, 2017 Share Posted August 21, 2017 The winnings are considered income. He will be liable for all Fed and State taxes. In California he will lose nearly 40 to 50% of that $5mil (Roughly). Good Tax adviser might be able to mitigate some of the tax penalties He then will be required to file quarterly taxes on the remaining amount most likely due to his income increase. Its not so glamorous but still he might end up with about $2 mil when all said and done. Not bad for a scratcher ticket Congrats to him Link to comment Share on other sites More sharing options...
mushroomdave Posted August 21, 2017 Share Posted August 21, 2017 New York state friend of mine told me when home this summer that he had won 100,000 on a scratch a few yrs back. He paid 30,000 or so in tax then, not sure the exact way it's done but had friends who had shops and other friends give him losing scratch/other losing tickets. Claimed all them on his income tax as a loss and got something like 27,000 back. He said not all states allow this but NY State does. Link to comment Share on other sites More sharing options...
Raymonddiaz Posted August 21, 2017 Share Posted August 21, 2017 Can foreigners play lottery here? Link to comment Share on other sites More sharing options...
gandalf12 Posted August 21, 2017 Share Posted August 21, 2017 2 hours ago, missoura said: Good question. I wonder what the law actually says. I doubt if it matters what the law says it is what they want it to be on the day. Link to comment Share on other sites More sharing options...
ChiangMaiLightning2143 Posted August 21, 2017 Share Posted August 21, 2017 Can foreigners play lottery here?Yes. Foreigners are also welcome at Casinos. If you don't have a green card or US passport I don't think income tax is due either. I have the experience of nice jackpots on Nevada slot machines. If you win more than $1200 the machine locks up and an attendant comes out to verify your status. If one is a US person 30 percent taken right there! You get a gambling winnings tax receipt form from the Casino staff and you can reclaim any excess when you file your tax return in April.Thanks Uncle Sam! In this case the man lives in the US so all applcable taxes are due. It is considered income. Good for him, "You can't win if you don't play". Unfortunately many Lotto winners end up broke due to poor judgement, scams, and greedy relations. Link to comment Share on other sites More sharing options...
Grumpy Old Man Posted August 21, 2017 Share Posted August 21, 2017 2 hours ago, missoura said: Good question. I wonder what the law actually says. The lottery in Thailand is classed as a taxable income; you are taxed 5% on the initial winnings and then your remaining winnings are added to your annual income and then you are taxed on your total "income" at the end of the tax year. . . . . There are different steps / levels of tax on a Thai lottery winning depending on the amount won by a foreigner. Link to comment Share on other sites More sharing options...
Retfed50 Posted August 21, 2017 Share Posted August 21, 2017 1 hour ago, JAFO said: The winnings are considered income. He will be liable for all Fed and State taxes. In California he will lose nearly 40 to 50% of that $5mil (Roughly). Good Tax adviser might be able to mitigate some of the tax penalties He then will be required to file quarterly taxes on the remaining amount most likely due to his income increase. Its not so glamorous but still he might end up with about $2 mil when all said and done. Not bad for a scratcher ticket Congrats to him California does have a high tax rate but it is graduated just like most states andthe federal tax rates. It will probably cost him around $650,000 in CA taxes and a little over 2 million in federal taxes. Hope he gets some good advice. Best bet is to pay the entire tax due to CA before Dec. 31 and the he can deduct that entire amount against his federal income. Should save him around $200,000 or so. He should end up with around 2.5 mil. When it comes to unexpected income such as lottery winnings, the US Internal Revenue Service will not penalize you for not making quarterly estimated tax payments. Link to comment Share on other sites More sharing options...
Raymonddiaz Posted August 21, 2017 Share Posted August 21, 2017 30 minutes ago, ChiangMaiLightning2143 said: Yes. Foreigners are also welcome at Casinos. If you don't have a green card or US passport I don't think income tax is due either. I have the experience of nice jackpots on Nevada slot machines. If you win more than $1200 the machine locks up and an attendant comes out to verify your status. If one is a US person 30 percent taken right there! You get a gambling winnings tax receipt form from the Casino staff and you can reclaim any excess when you file your tax return in April.Thanks Uncle Sam! In this case the man lives in the US so all applcable taxes are due. It is considered income. Good for him, "You can't win if you don't play". Unfortunately many Lotto winners end up broke due to poor judgement, scams, and greedy relations. I asked about the land of smiles not USA. Link to comment Share on other sites More sharing options...
Bill Miller Posted August 21, 2017 Share Posted August 21, 2017 (edited) 1 hour ago, mushroomdave said: New York state friend of mine told me when home this summer that he had won 100,000 on a scratch a few yrs back. He paid 30,000 or so in tax then, not sure the exact way it's done but had friends who had shops and other friends give him losing scratch/other losing tickets. Claimed all them on his income tax as a loss and got something like 27,000 back. He said not all states allow this but NY State does. Yes. Not all states have an income tax, ut it also works to offset federal income tax liability. Some friends in Connecticut had a good win years back, and we did the same for them. Edited August 21, 2017 by Bill Miller Link to comment Share on other sites More sharing options...
Retfed50 Posted August 21, 2017 Share Posted August 21, 2017 1 hour ago, mushroomdave said: New York state friend of mine told me when home this summer that he had won 100,000 on a scratch a few yrs back. He paid 30,000 or so in tax then, not sure the exact way it's done but had friends who had shops and other friends give him losing scratch/other losing tickets. Claimed all them on his income tax as a loss and got something like 27,000 back. He said not all states allow this but NY State does. Tell your friend not to brag too much about this. What he and his "helpets"did was tax fraud! All it takes is one pi**ssed off friend to notify the IRS and he could be open to big problems.....the least of which are a 25%fraud penalty and large fines. Either he has a lot of friends or his friends are spending way too much on lottery tickets. In order for him to get $27,000 back, he would have had to produce $27,000 worth of losing lottery tickets. Most state's tax returns are based on the federal tax return so he would be able to deduct any legitamate gambling losses. Link to comment Share on other sites More sharing options...
Classic Ray Posted August 21, 2017 Share Posted August 21, 2017 Move to the UK folks where lottery winnings are paid in full and tax-free, even Euromillions where people have won nearly £200 million (8 billion baht)! Link to comment Share on other sites More sharing options...
prism Posted August 21, 2017 Share Posted August 21, 2017 1 hour ago, JAFO said: The winnings are considered income. He will be liable for all Fed and State taxes. In California he will lose nearly 40 to 50% of that $5mil (Roughly). Good Tax adviser might be able to mitigate some of the tax penalties He then will be required to file quarterly taxes on the remaining amount most likely due to his income increase. Its not so glamorous but still he might end up with about $2 mil when all said and done. Not bad for a scratcher ticket Congrats to him There is no California state tax and the Fed tax will be withheld from his winnings. Not sure if this is an annuitized prize or cash. Still a good idea to find a good tax adviser. Link to comment Share on other sites More sharing options...
Srikcir Posted August 21, 2017 Share Posted August 21, 2017 21 minutes ago, Retfed50 said: It will probably cost him around $650,000 in CA taxes and a little over 2 million in federal taxes. State income tax can be deductible for federal income tax purposes subject to a few rules. That will reduce total federal income tax. Link to comment Share on other sites More sharing options...
ChiangMaiLightning2143 Posted August 21, 2017 Share Posted August 21, 2017 I asked about the land of smiles not USA.My Apologies. Link to comment Share on other sites More sharing options...
Retfed50 Posted August 21, 2017 Share Posted August 21, 2017 27 minutes ago, prism said: There is no California state tax and the Fed tax will be withheld from his winnings. Not sure if this is an annuitized prize or cash. Still a good idea to find a good tax adviser. I stand corrected! California does not tax California lottery winnings but does tax winnings from other states. So he should end up with just short of $3 million after Federal taxes. Link to comment Share on other sites More sharing options...
elwood Posted August 21, 2017 Share Posted August 21, 2017 4 hours ago, rkidlad said: Well done. As a foreigner in Thailand, do I get the full amount if I win the jackpot for the Thai lottery? Yes you do. Link to comment Share on other sites More sharing options...
Retfed50 Posted August 21, 2017 Share Posted August 21, 2017 30 minutes ago, Srikcir said: State income tax can be deductible for federal income tax purposes subject to a few rules. That will reduce total federal income tax. The only rule that I know of is that you have to itemize deductions. Other than that, as long as you pay state or local income taxes during that tax year you can take a deduction for them . Link to comment Share on other sites More sharing options...
.png.3b3332cc2256ad0edbc2fe9404feeef0.png)
Recommended Posts
Create an account or sign in to comment
You need to be a member in order to leave a comment
Create an account
Sign up for a new account in our community. It's easy!
Register a new accountSign in
Already have an account? Sign in here.
Sign In Now