Am trying to complete the Louisiana Non-Resident Tax return.
It appears that the tax is basically a minimum of 2% with a maximum of
6% with no offset for losses. (The only offset seems to be federal
income taxes paid.)
I will get something back but was hoping to get back the entire (or
very close) 6% that was withheld.
Am I doing this correctly?
Am trying to complete the Louisiana Non-Resident Tax return.
It appears that the tax is basically a minimum of 2% with a maximum
of 6% with no offset for losses. (The only offset seems to be
federal
income taxes paid.)
I will get something back but was hoping to get back the entire (or
very close) 6% that was withheld.Am I doing this correctly?
Louisiana does not have a place on the tax form to list federal
itemized deductions. This is true for the resident form, and I would
assume it applies to the non-resident form as well. What it amounts
to - as you have discovered - is that you have to pay taxes on your
winnings with no offset for your losses. And yes, it's extremely
unfair.
EE
--- In vpFREE@yahoogroups.com, "kelso1600" <kelso1600@...> wrote:
Thanks. Guess I will be limiting my trips to the Louisiana casinos
with a minimum tax of 2% and potentially more.
I don't see how the dollar and higher players hang in there. They
must take a real hit.
>
> Am trying to complete the Louisiana Non-Resident Tax return.
> It appears that the tax is basically a minimum of 2% with a
maximum
of 6% with no offset for losses. (The only offset seems to be
federal
> income taxes paid.)
>
> I will get something back but was hoping to get back the entire
(or
> very close) 6% that was withheld.
>
> Am I doing this correctly?
>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>Louisiana does not have a place on the tax form to list federal
itemized deductions. This is true for the resident form, and I
would
assume it applies to the non-resident form as well. What it
amounts
to - as you have discovered - is that you have to pay taxes on
your
--- In vpFREE@yahoogroups.com, "eecounter" <eecounter@...> wrote:
--- In vpFREE@yahoogroups.com, "kelso1600" <kelso1600@> wrote:
winnings with no offset for your losses. And yes, it's extremely
unfair.EE
Serious advantage players who live in LA can file Schedule C to get
around the problem of no offset of losses. For everyone else, yes you
take a real hit. The rule also hurts people with significant home
mortgage interest, property taxes, etc.
EE
--- In vpFREE@yahoogroups.com, "kelso1600" <kelso1600@...> wrote:
I don't see how the dollar and higher players hang in there. They
must take a real hit.
Yep. That's it. I have $18K worth of W-2g's for last year where the
state has taken their 6% which I shall never see again. No more $ play
for me in LA, which eliminates LaBerge'Du'Lac since everything below $
is short pay there. They have no full pay multi-line games where you
can push the money through without paying the LA tax man. If LDL would
put in some full pay multi lines at those levels, then I would play
there because I like the place.
--- In vpFREE@yahoogroups.com, "kelso1600" <kelso1600@...> wrote:
Thanks. Guess I will be limiting my trips to the Louisiana casinos
with a minimum tax of 2% and potentially more.I don't see how the dollar and higher players hang in there. They
must take a real hit.