raffle tickets info needed

[mountainmike]

I have a question about raffles for big game hunts. When someone wins one of these raffles......what fee's are not covered or involved? I was on a site in the states and some instresting questions were coming up. They say if you win a raffle, there are taxes you will have to pay. Now for example a FNAWS sheep hunt down there is worth say $20000 You have to pay taxes on it depending on what you make (tax bracket i guess) Could be like $5000-$6000 for winning the hunt. My question is, do we living here in Alberta have to pay taxes on a raffle hunt if we won it? Anybody have any knowlege of this?

It would kinda suck if you actually won but couldn't afford to go on your DREAM hunt, that was supose to be a free hunt.....you won in a lottery!!!!! Isn't this why we buy all these raffle tickets in the 1st place? Most people Can't afford a guided hunt for Stone or Dall sheep. So we dare to dream and throw $20 down on a prayer and start HOPING LADY LUCK will shine on you and a dream is possible............maybe just maybe you could be that lucky S.O.B.

Just wondering if any of you know how this works?

Thanks Mike

[sheephunter]

Canada differs from the U.S. in the fact that we do not pay taxes on raffle winning but it is something to consider when buying tickets on raffles in the U.S. for sure. Even as a Canadian, if you win a U.S. raffle, you will end up paying taxes on it. What is an isn't included with a hunt raffle must be included on the ticket for Alberta raffles but there are no taxes to be paid on winnings.

[mountainmike]

TJ
How would I know what taxes would be involved though? The Raffle is from Fnaws in Californa, the hunts are in BC and the Yukon. Would it be taxes to be paid to the US? Or here in Canada? Say gst

This may sound stupid...however...When you win money in Vegas they tax you right there, but you can fill out a form to get it back once you're back to Canada, So I've heard?????

Mike

[sheephunter]

TJ
How would I know what taxes would be involved though? The Raffle is from Fnaws in Californa, the hunts are in BC and the Yukon. Would it be taxes to be paid to the US? Or here in Canada? Say gst

This may sound stupid...however...When you win money in Vegas they tax you right there, but you can fill out a form to get it back once you're back to Canada, So I've heard?????

Mike

I'm not sure about the percentage but in most cases you are required to pay the taxes before the prize is awarded to you. A buddy of mine from Whitehorse won a sheep hunt in southern BC in an Arizona raffle and he was required to pay taxes but I'm not sure what it was. There might be something on the IRS web site.

Apparently, there is a lawyer in Toronto that also helps Canadian hunters with this exact issue.

[mountainmike]

Thanks TJ
Not like I'll win haha, But thought a guy should know if he's gonna buy these kind of tickets. Thanks again

Mike

[sheephunter]

Ya, I'm guessing a lot of people don't know about having to pay taxes on raffle winnings in the U.S......a good reminder for all!