odiousgambit
odiousgambit
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June 10th, 2014 at 11:53:47 AM permalink
Continuing a conversation started here: https://wizardofvegas.com/forum/gambling/big-wins/15297-high-limit-slot-win/9/#post309293

Anyway, taking another look at the "bad states mentioned", how many have casinos according to American Casino Guide dot com?

Connecticut.....................................................................................yes
Illinois ..........................................................................................yes
Kansas [?]..........................................................................................yes [edit: see additional posts]
Indiana ..........................................................................................yes
Louisiana (Itemized Deduction Limitation).............................................yes
Massachusetts....................................................................................yes
Michigan..........................................................................................yes
Minnesota (State AMT — Impacts Amateurs).........................................yes
Mississippi (allows a deduction only for losses in Mississippi)...................yes
New Hampshire [edit: see additional posts]........................................n/a [edited] no casinos, for the record
New York (Itemized Deduction Limitation)..............................................yes
Ohio (Anticipated to change in 2013)[edit: see additional posts].....yes
West Virginia.......................................................................................yes
Wisconsin..........................................................................................yes

So, how bad is that?
the next time Dame Fortune toys with your heart, your soul and your wallet, raise your glass and praise her thus: “Thanks for nothing, you cold-hearted, evil, damnable, nefarious, low-life, malicious monster from Hell!”   She is, after all, stone deaf. ... Arnold Snyder
TerribleTom
TerribleTom
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June 10th, 2014 at 12:23:16 PM permalink
Are these states where gambling winnings are taxed but gambling losses are not deductible on your state income tax?

NH does not have a personal income tax and it appears as though the 10% gambling tax was repealed in 2011.
odiousgambit
odiousgambit
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Joined: Nov 9, 2009
June 10th, 2014 at 12:57:27 PM permalink
Quote: TerribleTom

Are these states where gambling winnings are taxed but gambling losses are not deductible on your state income tax?



Exactly.

I haven't been killing myself trying to get the most up to date list, it's a little hard to find the latest info. Perhaps someone can do a better job.

Quote: TerribleTom

NH does not have a personal income tax and it appears as though the 10% gambling tax was repealed in 2011.



OK,

http://www.taxabletalk.com/2012/10/22/bad-states-for-gamblers/

seems to be more up to date and does not list NH.

also states in note 6,
Quote:

6. Ohio ... effective January 1, 2013, gambling losses will be allowed as a deduction on state income tax returns. Unfortunately, those gambling losses will not be deductible on city or school district income tax returns, so Ohio will remain a bad state for amateur gamblers.



PS: also does not list KS, which member Vetsen says should be now included. Maybe if he is reading he can give his source.
the next time Dame Fortune toys with your heart, your soul and your wallet, raise your glass and praise her thus: “Thanks for nothing, you cold-hearted, evil, damnable, nefarious, low-life, malicious monster from Hell!”   She is, after all, stone deaf. ... Arnold Snyder
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