How to share the lottery jackpot among family members?
Answers:
If you are in the U.S. and subject to U.S. tax you can form a limited liability company with the family members each owning a share. The company would be treated as a partnership for U.S. tax purposes so if it makes the wager and wins each family member would be taxed on his/her share off the winnings with no tax at the company level. Talk this over with your accountant.
how bout sharing it with me...
u haven't won yet... do u know what the odds are...
Worry about it if it happens. POP!! . There goes your bubble:D
The only way that I can think of is that when or if you do win, when you go to claim your prize you would want to take those family members with you. Once you are their you can "distribute" in "writing" the amount that you are wishing to give them in the paperwork that the State is going to give you to fill out.
If you do it this way, they would be the ones responsible for paying for their own taxes.
If you do "not" want them to pay taxes on their lottery winnings, then their is no way of getting around you not paying inheritance tax.
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