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vetsen
vetsen
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June 9th, 2014 at 10:59:50 AM permalink
Quote: odiousgambit

How many are asking "is my state one of the bad ones?" [g] I googled and came up with this.



https://ttlc.intuit.com/questions/1528811-can-you-deduct-gambling-losses



That was posted a year ago. I believe Kansas is a 2014 add.
AcesAndEights
AcesAndEights
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June 10th, 2014 at 8:49:14 AM permalink
Quote: vetsen

Quote: odiousgambit

How many are asking "is my state one of the bad ones?" [g] I googled and came up with this.



https://ttlc.intuit.com/questions/1528811-can-you-deduct-gambling-losses



That was posted a year ago. I believe Kansas is a 2014 add.


Does anyone know if anyone has tried to challenge these states in court? Seems blatantly wrong. Imagine if they taxed the casinos this way. "You owe the full gambling tax rate on every benjamin that goes down the drop box. Huh, what about those benjamins leaving via the cashier? Nah, don't worry about those."
"So drink gamble eat f***, because one day you will be dust." -ontariodealer
Deucekies
Deucekies
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June 10th, 2014 at 10:31:38 AM permalink
Quote: AcesAndEights


Does anyone know if any has tried to challenge these states in court? Seems blatantly wrong. Imagine if they taxed the casinos this way. "You owe the full gambling tax rate on every benjamin that goes down the drop box. Huh, what about those benjamins leaving via the cashier? Nah, don't worry about those."


It wasn't too long ago that this was the case in WA. Might still be for some of them.
Casinos are not your friends, they want your money. But so does Disneyland. And there is no chance in hell that you will go to Disneyland and come back with more money than you went with. - AxelWolf and Mickeycrimm
AcesAndEights
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June 10th, 2014 at 12:48:21 PM permalink
Quote: Deucekies

It wasn't too long ago that this was the case in WA. Might still be for some of them.


Wow. That would suck for them. With some of these small 15-table card rooms, I bet they have pretty long losing periods just due to a big jackpot being hit or something.

Imagine having a net losing week as a casino, and still owing tax on the total you dropped that week. Insanity.
"So drink gamble eat f***, because one day you will be dust." -ontariodealer
Deucekies
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June 10th, 2014 at 12:53:41 PM permalink
Quote: AcesAndEights

Wow. That would suck for them. With some of these small 15-table card rooms, I bet they have pretty long losing periods just due to a big jackpot being hit or something.


Agreed. On top of that, you get players who buy in for a lot more than they actually wanna play, or cash out and buy back in.

Also, it made me chuckle when you said "small 15-table card rooms". 15 tables is the legal MAXIMUM.
Casinos are not your friends, they want your money. But so does Disneyland. And there is no chance in hell that you will go to Disneyland and come back with more money than you went with. - AxelWolf and Mickeycrimm
AcesAndEights
AcesAndEights
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June 10th, 2014 at 1:00:16 PM permalink
Quote: Deucekies

Agreed. On top of that, you get players who buy in for a lot more than they actually wanna play, or cash out and buy back in.

Also, it made me chuckle when you said "small 15-table card rooms". 15 tables is the legal MAXIMUM.


Right, I did know that, just saying "small" compared to any other gambling jurisdictions, or the tribals nearby.
"So drink gamble eat f***, because one day you will be dust." -ontariodealer
Deucekies
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June 10th, 2014 at 2:58:01 PM permalink
Quote: AcesAndEights

Right, I did know that, just saying "small" compared to any other gambling jurisdiction, or the tribals nearby.



Very true. House banked card rooms have been legal in WA since 1997. It's not in its infancy anymore. I wish the WSGC would loosen the leash a little bit.
Casinos are not your friends, they want your money. But so does Disneyland. And there is no chance in hell that you will go to Disneyland and come back with more money than you went with. - AxelWolf and Mickeycrimm
teddys
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June 10th, 2014 at 3:27:35 PM permalink
Quote: AcesAndEights

Quote: vetsen

Quote: odiousgambit

How many are asking "is my state one of the bad ones?" [g] I googled and came up with this.



https://ttlc.intuit.com/questions/1528811-can-you-deduct-gambling-losses



That was posted a year ago. I believe Kansas is a 2014 add.


Does anyone know if anyone has tried to challenge these states in court? Seems blatantly wrong. Imagine if they taxed the casinos this way. "You owe the full gambling tax rate on every benjamin that goes down the drop box. Huh, what about those benjamins leaving via the cashier? Nah, don't worry about those."

Probably something you'd need to take through the legislature. At least in my state, the courts don't have much power. In fact, the state supreme court said our system of school funding was unconstitutional THREE TIMES, and the leg. basically said "Eff you, we're not changing it."
"Dice, verily, are armed with goads and driving-hooks, deceiving and tormenting, causing grievous woe." -Rig Veda 10.34.4
AcesAndEights
AcesAndEights
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June 10th, 2014 at 4:28:02 PM permalink
Quote: teddys

Quote: AcesAndEights

Quote: vetsen

Quote: odiousgambit

How many are asking "is my state one of the bad ones?" [g] I googled and came up with this.



https://ttlc.intuit.com/questions/1528811-can-you-deduct-gambling-losses



That was posted a year ago. I believe Kansas is a 2014 add.


Does anyone know if anyone has tried to challenge these states in court? Seems blatantly wrong. Imagine if they taxed the casinos this way. "You owe the full gambling tax rate on every benjamin that goes down the drop box. Huh, what about those benjamins leaving via the cashier? Nah, don't worry about those."

Probably something you'd need to take through the legislature. At least in my state, the courts don't have much power. In fact, the state supreme court said our system of school funding was unconstitutional THREE TIMES, and the leg. basically said "Eff you, we're not changing it."


Another issue for my GamblersPAC to target...
"So drink gamble eat f***, because one day you will be dust." -ontariodealer
Scot
Scot
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June 10th, 2014 at 5:25:09 PM permalink
Quote: odiousgambit

How many are asking "is my state one of the bad ones?" [g] I googled and came up with this.



https://ttlc.intuit.com/questions/1528811-can-you-deduct-gambling-losses



New Hampshire repealed the 10% tax a couple of years ago.
Transcend
Transcend
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June 18th, 2014 at 3:17:40 PM permalink
Quote: odiousgambit

How many are asking "is my state one of the bad ones?" [g] I googled and came up with this.



https://ttlc.intuit.com/questions/1528811-can-you-deduct-gambling-losses



I live in Illinois and was able to deduct my losses up to my wins last year for taxes. Federal. State you are just screwed on
Part of it went on gambling, and part of it went on women. The rest I spent foolishly. -George Raft
reserect
reserect
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September 12th, 2014 at 3:36:16 AM permalink
Not to change the subject and great win by the way but could you paste the code that you used to get that picture to display in hour blog lol!
odiousgambit
odiousgambit
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September 12th, 2014 at 3:59:13 AM permalink
Quote: reserect

Not to change the subject and great win by the way but could you paste the code that you used to get that picture to display in hour blog lol!



when you get your window up for your post in forums, down on the right see "click here for formatting codes"

you can also hit "quote" to see what someone else did
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
VPninja
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September 12th, 2014 at 5:44:48 AM permalink
Louisiana also automatically withholds state taxes on $1200 or above
odiousgambit
odiousgambit
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September 12th, 2014 at 7:26:16 AM permalink
Quote: VPninja

Louisiana also automatically withholds state taxes on $1200 or above



Even if you are an out-of-state gambler no doubt. Not sure how the latter gets his money back.

this might be the best/latest list for bad states in general,

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

Louisiana type problems not mentioned.
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
VPninja
VPninja
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September 16th, 2014 at 5:39:22 PM permalink
When you file your taxes , submit your Louisiana generated W2G to your own state taxation office reflecting withheld taxes and they should give you a credit.
teddys
teddys
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September 16th, 2014 at 9:26:43 PM permalink
Quote: VPninja

When you file your taxes , submit your Louisiana generated W2G to your own state taxation office reflecting withheld taxes and they should give you a credit.

HA!
"Dice, verily, are armed with goads and driving-hooks, deceiving and tormenting, causing grievous woe." -Rig Veda 10.34.4
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