Hard up for cash, NJ just upped the taxes on wine and liquor 25%, but not beer, among many other things, and....will now tax lottery winnings. Okay, more new taxes, but unlike that on wine and liquor, the tax on lottery winnings is retro active to Jan 1.
Why? I suppose they didn't want to let the winnings of two big Mega Mil winners escape the state coffers. Those winners now have to retroactively ante up 10.5% of the purse, more than $15 million in total.
It's downright criminal what these lawmakers are getting away with. For the extra taxes to be paid, I would fight it all the way to the SC. How can anything be enacted retroactively to one's detriment?