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$5 super aces

#1

IN is 3.4% but unlike MS it is state income tax and usually can be credited
against your state income tax. (IL only allows you to credit it against
your IL return at their rate of 3%.) Remember that unless you declare as a
professional gambler , that win shows up as income which is counted fully
on most home-state tax returns.
$5 single line SA is way beyond my comfort level!!!

···

[Original Message]
From: jimnkelli <jbecker11@charter.net>
To: <vpFREE_Chicago@yahoogroups.com>
Date: 10/1/2005 11:37:28 AM
Subject: [vpFREE_Chicago] Re: $5 super aces

--- In vpFREE_Chicago@yahoogroups.com, "Howard Stern"
<howard.w.stern@e...> wrote:
> All $5 machines short all normal 250 coin pays to 239.
> 8-5 Super Aces Quad 5s thru Ks
>
>

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#2

--- In vpFREE_Chicago@yahoogroups.com, "Howard Stern"
<howard.w.stern@e...> wrote:

IN is 3.4% but unlike MS it is state income tax and usually can be

credited

against your state income tax. (IL only allows you to credit it against
your IL return at their rate of 3%.) Remember that unless you

declare as a

professional gambler , that win shows up as income which is counted

fully

on most home-state tax returns.

My very limited tax knowledge goes like this

MO: 4% withheld for state taxes but is potentially fully refundable

IL: no withholding, but they do not allow any deductions against w2
amounts, so the total of all w2s is included as income. I dont know
the current income tax rates

MS: 3% withheld and not refundable. Basically like a 'sales tax'

from what you report IN is more like MO, in that they withhold, but it
can be refunded when you file. Correct?

thanks
Jim