In a message dated 09/07/04 12:04:33 AM Eastern Standard Time,
QueenofComps@frugalgambler.biz writes:
I can't seem to find my notes on this. I believe the state was going to
withhold state taxes out of all jackpots but changed their mind at the last
minute and left it that they only took out state taxes for CT residents. Am
I remembering this correctly? If so, don't they only withhold for W2G
jackpots, $1200 and above? What about 1099s for casino drawings, etc. - do
they withhold on those?
I believe that CT also does not allow any deduction for gambling losses on
the state form of residents. Right? Would appreciate anyone who has
personal information on this.
Income tax withholding is voluntary. CT had passed a law requiring
nonresidents to have state income tax withheld but the law was quickly repealed. If
you have CT taxes withheld they will withhold 5%. CT bases their starting
point as federal adjusted gross income (the bottom of the first page of form
1040) so there is no deduction for itemized deductions.
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