Can an LLC claim lottery winnings?

[kayode10]

People has been using cooperation to prevent or to protect their investment from direct taxation in order to minimise business expenses. this can be a good strategy for someone who win huge amount of money and to prevent government.

One of the questions I want to ask you guys is that Can an LLC claim lottery winnings? I'll be glad if anybody can show the total process on how to go about this to prevent taxation. Thanks in advance

 

[Samuel purpose]

It's common for lottery winners to set up a trust or a limited liability company, LLC, to claim their winnings from. For some states, this means that you can claim your prize without using your real name, instead using the name of your LLC.

 

[James108]

Yes, an LLC can claim lottery winnings. However, there are a few things to keep in mind. First, the LLC must be the legal owner of the winning ticket. Second, the LLC must be properly registered and in good standing in the state where the lottery was won.

 

[Qwert135]

Yes a company or llc can claim a lottery they do have to pay taxes that might be marginally less the required documents to prove the winning and funds used being clean might do the purpose and then an llc can claim the winning amount .