[quote name=\'That Don Guy\' date=\'Dec 5 2003, 10:21 PM\'] [quote name=\'clemon79\' date=\'Dec 5 2003, 03:10 PM\'] It isn't, tho. a California Lottery scratchoff ticket is worth precisely $0 if it's not a winner. I don't remember what the payout scale for prizes on the scratchoff game was, but I think it was something like 30 cents on the dollar. So, if I'm right about that, you're looking at a prize worth roughly $300.
The question _I_ have is, is it taxable, and if so, for how much? [/quote]
I'm pretty sure 50% of the money in the California Lottery "scratch-off" games goes back to the players (1/3 to the schools (to make up for the money the legislature moves from the education budget to the general fund under the impression that the lottery will make up the difference), and 1/6 for other costs), at least back then.
Besides, an unscratched California Lottery ticket had a retail value of $1, so I would guess that's what the IRS would use when determining your income. (And yes, if you won anything, that was counted on top of the $1 per ticket, although California Lottery winnings are not taxable against California state income tax, only Federal.)
More differences between the Narz and the original: if you matched two Wild Cards, you won a car rather than $500 (and you kept the car whether or not you won the game; also, the car could not be lost in a Take or Forfeit), and the original had no end game.
-- Don [/quote]
Here is some more information on the California Lottery funds distribution:
http://www.calottery.com/heroesineducation/faq.asp