Here is an excerpt from the almost-finished tax book. Does anyone have
information that would necessitate changes or additions?
<<If you're lucky to live in one of the six tax-heaven states that
doesn't have
any form of state income tax (Washington, Nevada, Texas, Alaska, South
Dakota, and Wyoming), you MIGHT be able to skip this section. Or you may
feel safe if you live in the near tax-heaven states like Florida, which
only taxes intangibles, or Tennessee and New Hampshire, which only tax
investments.
However, you still may not be home free; you may gamble and hit a
jackpot in another state, one that DOES have such a tax, with a few
AUTOMATICALLY withholding state taxes from any win that generates a
federal W-2G, regardless of the residency of the jackpot winner. This
list of the latter (and the percentage that they withhold) includes:
Louisiana (6%)
Iowa (5%)
Missouri (4%)
Indiana (3.4%).>>
You may post to the group if you feel it is newsworthy or just
privately.
Thanx!!!
ยทยทยท
____________________
Jean $cott - "The Frugal Gambler"
MORE FRUGAL GAMBLING can now
be ordered, autographed, at
http://www.FrugalGambler.biz
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