|
Q. Is it possible to cancel after cash recharge card approval?
|
If it is before the purchase agency application (cash usage),
please request cancellation of payment approval through 1:1 inquiry.
We will assist you with prompt processing.
|
|
Q. Can I get a US investor visa with a large lottery prize?
|
There are various immigration programs in the US, and notably, immigration through investment (EB-5) is possible.
The investment immigration program started as a pilot in 1992, granting permanent residency by investing $500,000 to $1,000,000 (approx. 600 million to 1.1 billion KRW) in projects developed by a Regional Center.
For investment immigration, it is mandatory to disclose the source of funds, and there is a verification process to ensure the funds are not acquired illegally. However, if you have won a large amount through TheLotter Korea, the source of funds can be clearly documented.
In fact, in 2015, an Iraqi won $6.4 million through a purchasing agency site located in Malta (Republic of Malta) and immigrated to the US.
Related article link:
www.thelotter.com/iraqi-wins-us-lottery3
|
|
Q. Are there cases where foreigners received actual winnings through overseas purchasing agencies?
|
Since 2000, there have been reports in international media about foreigners winning large amounts (1st or 2nd prize) by purchasing large US and European lotteries online through purchasing agencies.
Cases include:
- Two Thai nationals jointly won EuroMillions in 2003.
- A woman in her 20s from Greece won EuroMillions in 2009.
- An Iraqi won $6.4 million in US lottery in 2015 and immigrated to the US.
The winner was living in Baghdad, Iraq and purchased the US lottery via a purchasing agency based in Malta (Republic of Malta) and won the first prize.
Watch the video of Iraqi winning 8 billion KRW via purchasing agency:
https://www.youtube.com/watch?v=mbll6eTJT-w
Related article link:
https://www.thelotter.com/iraqi-wins-us-lottery
|
|
Q. Do I have to pay taxes to the US government when I win?
|
Taxes may apply depending on the prize amount.
Please refer to the following information regarding taxes based on prize amounts.
1. Under $600: No taxes apply.
2. $600 to under $1,500: 24% US federal tax, plus approximately 10% income tax to the US purchasing agency for proxy collection, totaling about 34%.
3. $1,500 to under $1,000,000: 24-37% US federal tax, 8% Oregon state tax, remittance fees, and income tax for proxy collection by the purchasing agency apply.
4. Large 1st or 2nd prizes: When taking a lump sum after winning 1st or 2nd prize,
you will receive about 58% of the prize, and approximately 45% of the net amount will be paid in taxes to the US and Korean governments.
The US and South Korea have a double taxation treaty, so if the winner is a Korean national,
the Korean government recognizes taxes paid to the US and applies the highest personal income tax rate of 45%.
However, the Oregon state foreign lottery winner tax cap is 35% (varies by state but none exceed 40%).
An additional 10% tax payment is required during Korea’s comprehensive income tax filing period in May the following year.
The official Korean tax office blog explains the approximate tax and net receipts if a Korean wins a US lottery worth over 1 trillion KRW.
(TheLotter purchasing location is Oregon with an 8% state tax.)
https://blog.naver.com/ntscafe/221589967148
* Large 1st and 2nd prize winnings cannot be received by proxy and must be collected by the Korean applicant directly.
|
|
Q. Do I have to pay taxes to the Korean government (double taxation) when I win?
|
Taxes may apply on large 1st or 2nd prizes.
The US government levies approximately 38% tax on foreign nationals winning 1st or 2nd prizes.
Korea may levy an additional approximately 7% tax on the net winnings if the Korean national earns income overseas above a certain threshold, applying the highest tax rate under Korean tax law.
The US and Korea have a double taxation treaty, recognizing taxes paid to the US, but according to inquiries with the Korean National Tax Service, Korean nationals may be subject to the highest Korean personal income tax rate of 45% at the time of winning.
Since there are no reported cases yet of Korean nationals winning large overseas lottery prizes, explicit tax guidance is unavailable.
TheLotter will do its best to provide legal and tax support with lawyers and tax accountants from both Korea and the US for large 1st and 2nd prize winners.
|
|
Q. What is summer time?
|
The official term in Korea is daylight saving time, which refers to setting clocks one hour ahead of standard time.
For example, 9 o’clock becomes 10 o’clock, and 1 o’clock becomes 2 o’clock.
In the US, daylight saving time is observed from the second Sunday in March at 2 AM until the first Sunday in November at 2 AM. During this period, lottery draw times in the US also occur one hour earlier than Korean time.
|
|
Q. Can I receive the physical ticket for losing (non-winning) tickets?
|
You can request this in the menu.
For US lottery tickets you purchased through the agency that did not win, you can request physical ticket mailing.
(Overseas postage fee of 10,000 cash or points will be deducted)
Tickets that include winnings from 3rd to 9th prize are submitted to the lottery retailer by the local US purchasing agency to claim the prize and cannot be mailed.
(Prizes are paid in cash)
Please make sure to provide an address where you can personally receive the delivery when applying.
|
|
Q. How do I withdraw my membership?
|
You can withdraw membership from [My Page].
When you withdraw membership, all your remaining [cash], [coupons], and [MegaPowerUSA points] will be automatically deleted.
However, if you have more than 1,100 cash, you can request a withdrawal.
Re-registration after withdrawal may be restricted.
In accordance with laws such as the [Act on Consumer Protection in Electronic Commerce], [Communication Privacy Protection Act], and [Act on Promotion of Information and Communications Network Utilization and Information Protection], your information may be retained for a certain period to verify transaction rights and obligations.
|
|
Q. Kakao login is not working! What should I do?
|
Please be sure to set a password when signing up with Kakao.
Passwords can be set or changed in My Page -> Edit Information.
Once a password is set after Kakao registration,
you can log in using the email and phone number associated with your Kakao account.
If you encounter any login issues, please contact customer support for immediate assistance.
Thank you.
|
|
Q. Where can I make personal inquiries?
|
For personal or other inquiries,
please contact Customer Support > 1:1 Inquiry.
Since these often involve personal information,
1:1 inquiries and responses require login and can only be viewed by you.
|
