Joeman
Joeman 
Joined: Feb 21, 2014
  • Threads: 21
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June 14th, 2017 at 8:21:09 AM permalink
Quote: Romes

Then again those figures are pending states, I think, so I'm not sure if they're considered universal.

Based on my personal experience with W-2G's, in NV, they didn't take out any taxes, and didn't even ask. In IL, they asked if I wanted taxes taken out, but did not insist that I do. In MS, they took out, IIRC, 0.3% state taxes, and no fed tax. In LA, they took out 6%! However, I'm glad to report that I got about 75% of that money back by filing a state income tax return with LA.

Closer to the original topic, I sat down to play some 4CP at the IP in Biloxi a few years back. Another player comes up and asks if he can have my seat. No problem, I move to another seat, and he takes the one I was in. This guy was a big bettor, and on his first hand in what was my seat, he hit a big hand (I forget what it was, or how much, but he was betting >$100 on both the main bet and the Aces Up side bet).

After the dealer pays him off, he slides me a black chip as a "thank you" for giving him the seat!
"Dealer has 'rock'... Pay 'paper!'"
100xOdds
100xOdds
Joined: Feb 5, 2012
  • Threads: 412
  • Posts: 2082
June 14th, 2017 at 8:23:39 AM permalink
Quote: Romes

Table bets with over 300-1 odds and $1200 get taxed automatically, similar to a VP win over $1200. Then again those figures are pending states, I think, so I'm not sure if they're considered universal. I believe you HAVE to get one of the two withheld automatically (state/federal). I think you can waive one, but you'll have to pay for it later when tax season comes.

yes I know taxed automatically.

but unless I ask for taxes to be withheld, it doesn't get withheld.
so why is he being made to pay taxes then and there???

or is that his particular state? (taxes are not mandatory held in nv and md)
Craps is paradise (Pair of dice). Lets hear it for the SpeedCount Mathletes :)
RS
RS
Joined: Feb 11, 2014
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  • Posts: 5135
June 14th, 2017 at 8:38:05 AM permalink
Mississippi the state tax is 3%, not 0.3%, for the record. AFAIK, you can't file and get the 3% back in MS. In other states with a state tax on W2G, you can. LA and IA im pretty sure you can get the 6% and 5%(?) back, respectively. I'm sure in some you can and some you can't.

In NV, they typically won't ask if you want fed tax withheld, although in other states where they have a state tax, they'll typically ask "state only or both?"


I've heard of them withholding fed tax in NV on either super big wins and/or if you don't show an SS card. I vaguely remember that happening with a sports ticket to someone I know, but don't remember all the details, so don't quote me on that.
"should of played 'Go Fish' today ya peasant" -typoontrav
Joeman
Joeman 
Joined: Feb 21, 2014
  • Threads: 21
  • Posts: 849
June 14th, 2017 at 8:50:08 AM permalink
Quote: RS

Mississippi the state tax is 3%, not 0.3%, for the record.

Yes! One day I will figure out how decimal points work! ;P

Quote:

AFAIK, you can't file and get the 3% back in MS. In other states with a state tax on W2G, you can. LA and IA im pretty sure you can get the 6% and 5%(?) back, respectively. I'm sure in some you can and some you can't.

In LA, I had $720 withheld in state taxes and got a refund for $545. When the slot attendant was handing me the W-2G, she said I could get most of the withheld taxes back if I filed a state return. She was right -- most, but not all.
"Dealer has 'rock'... Pay 'paper!'"

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