Good morning!
My “better half” hit a $4,000 RF in Biloxii this past week. There was a withholding of 3% ($120) for state tax. Certainly, it is not an Earth-shattering amount, but I am wondering how easy or hard it might be to attempt to recover some of it by filing a Mississippi tax form next year.
Any comments or suggestions?
Thanks.
… bl
Kiss that 3% good by.
Virus-free. www.avast.com
On Sat, Mar 17, 2018 at 9:18 AM, bornloser1…@…com [vpFREE] <vpF…@…com> wrote:
Good morning!
My “better half” hit a $4,000 RF in Biloxii this past week. There was a withholding of 3% ($120) for state tax. Certainly, it is not an Earth-shattering amount, but I am wondering how easy or hard it might be to attempt to recover some of it by filing a Mississippi tax form next year.
Any comments or suggestions?
Thanks.
… bl
–
Jack
Tips to keep private email addresses out of the hands of spammers:
It’s not hard to do - get a state tax form and file it - I’ve done it and got my money back.
Kiss that 3% good by.
Virus-free. www.avast.com
On Saturday, March 17, 2018, 2:06:50 PM EDT, jrs har…@…com [vpFREE] <vpF…@…com> wrote:
On Sat, Mar 17, 2018 at 9:18 AM, bornloser1…@…com [vpFREE] <vpF…@…com> wrote:
Good morning!
My “better half” hit a $4,000 RF in Biloxii this past week. There was a withholding of 3% ($120) for state tax. Certainly, it is not an Earth-shattering amount, but I am wondering how easy or hard it might be to attempt to recover some of it by filing a Mississippi tax form next year.
Any comments or suggestions?
Thanks.
… bl
–
Jack
Tips to keep private email addresses out of the hands of spammers:
<re: getting a refund of gambling tax withholding on winnings in MS>
You must excel with “sleight of hand”, rossx, (at least where MS tax withholding on gambling winnings is concerned):
http://www.dor.ms.gov/Pages/Individual-FAQs.aspx#23
“Taxes withheld by Mississippi casinos as a result of gambling winnings are not refundable in Mississippi. Mississippi residents are not required to report Mississippi gambling winnings as income on their state return.”
—In vpF…@…com, <rossx_98@…> wrote :
It’s not hard to do - get a state tax form and file it - I’ve done it and got my money back.
That’s a contrary statement, isn’t it? Now in all honesty, this was years ago and I could have been mistaken about the state - I’ve gambled in many states and have learned not to have any taxes taken out.
On Sunday, March 18, 2018, 12:19:28 AM EDT, harry.por…@…net [vpFREE] <vpF…@…com> wrote:
<re: getting a refund of gambling tax withholding on winnings in MS>
You must excel with “sleight of hand”, rossx, (at least where MS tax withholding on gambling winnings is concerned):
http://www.dor.ms.gov/Pages/Individual-FAQs.aspx#23
“Taxes withheld by Mississippi casinos as a result of gambling winnings are not refundable in Mississippi. Mississippi residents are not required to report Mississippi gambling winnings as income on their state return.”
—In vpF…@…com, <rossx_98@…> wrote :
It’s not hard to do - get a state tax form and file it - I’ve done it and got my money back.
Not sure what you’re referring to as “contrary” (as far as exclusion of in-state gambling income from MS resident income tax returns, that’s because the income is taxed via the equivalent of an “excise tax” at the time of jackpot payout, rather than an income tax.)
But, yes, in many other states it’s possible to reclaim some or all of withheld income tax on gambling winnings as a non-resident by subsequently filing a return for that state.
As far as “not have any taxes taken out”, in my limited experience I’ve found that state withholding (where it applies) is mandatory. If you have further specific information re states where state tax withholding is optional, please share.
—In vpF…@…com, <rossx_98@…> wrote :
That’s a contrary statement, isn’t it? Now in all honesty, this was years ago and I could have been mistaken about the state - I’ve gambled in many states and have learned not to have any taxes taken out.
On Sunday, March 18, 2018, 12:19:28 AM EDT, harry.porter@... [vpFREE] <vpF...@...com> wrote:
<re: getting a refund of gambling tax withholding on winnings in MS>
You must excel with “sleight of hand”, rossx, (at least where MS tax withholding on gambling winnings is concerned):
http://www.dor.ms.gov/Pages/Individual-FAQs.aspx#23
“Taxes withheld by Mississippi casinos as a result of gambling
winnings are not refundable in Mississippi. Mississippi residents are
not required to report Mississippi gambling winnings as income on their
state return.”
—In vpF…@…com, <rossx_98@…> wrote :
It’s not hard to do - get a state tax form and file it - I’ve done it and got my money back.
Thanks to all who chose to opine. Looks like a “bad news/good news” situation.
The bad news: kiss the $120 good-bye.
The good news: no hassle of submitting a state tax return.
… bl
Here in Indiana, it is not manatory to have taxes taken out at the time of winning a jackpot - they always ask if we want them taken out or not - I do not have taxes taken out. We do have to pay at the time of filing our income taxes so it is one lump sum.
On Sunday, March 18, 2018, 11:58:38 AM EDT, harry.por…@…net [vpFREE] <vpF…@…com> wrote:
Not sure what you’re referring to as “contrary” (as far as exclusion of in-state gambling income from MS resident income tax returns, that’s because the income is taxed via the equivalent of an “excise tax” at the time of jackpot payout, rather than an income tax.)
But, yes, in many other states it’s possible to reclaim some or all of withheld income tax on gambling winnings as a non-resident by subsequently filing a return for that state.
As far as “not have any taxes taken out”, in my limited experience I’ve found that state withholding (where it applies) is mandatory. If you have further specific information re states where state tax withholding is optional, please share.
—In vpF…@…com, <rossx_98@…> wrote :
That’s a contrary statement, isn’t it? Now in all honesty, this was years ago and I could have been mistaken about the state - I’ve gambled in many states and have learned not to have any taxes taken out.
On Sunday, March 18, 2018, 12:19:28 AM EDT, harry.porter@... [vpFREE] <vpF...@...com> wrote:
<re: getting a refund of gambling tax withholding on winnings in MS>
You must excel with “sleight of hand”, rossx, (at least where MS tax withholding on gambling winnings is concerned):
http://www.dor.ms.gov/Pages/Individual-FAQs.aspx#23
“Taxes withheld by Mississippi casinos as a result of gambling
winnings are not refundable in Mississippi. Mississippi residents are
not required to report Mississippi gambling winnings as income on their
state return.”
—In vpF…@…com, <rossx_98@…> wrote :
It’s not hard to do - get a state tax form and file it - I’ve done it and got my money back.
P.S. I believe this is also true in Illinois.
On Sunday, March 18, 2018, 11:58:38 AM EDT, harry.por…@…net [vpFREE] <vpF…@…com> wrote:
Not sure what you’re referring to as “contrary” (as far as exclusion of in-state gambling income from MS resident income tax returns, that’s because the income is taxed via the equivalent of an “excise tax” at the time of jackpot payout, rather than an income tax.)
But, yes, in many other states it’s possible to reclaim some or all of withheld income tax on gambling winnings as a non-resident by subsequently filing a return for that state.
As far as “not have any taxes taken out”, in my limited experience I’ve found that state withholding (where it applies) is mandatory. If you have further specific information re states where state tax withholding is optional, please share.
—In vpF…@…com, <rossx_98@…> wrote :
That’s a contrary statement, isn’t it? Now in all honesty, this was years ago and I could have been mistaken about the state - I’ve gambled in many states and have learned not to have any taxes taken out.
On Sunday, March 18, 2018, 12:19:28 AM EDT, harry.porter@... [vpFREE] <vpF...@...com> wrote:
<re: getting a refund of gambling tax withholding on winnings in MS>
You must excel with “sleight of hand”, rossx, (at least where MS tax withholding on gambling winnings is concerned):
http://www.dor.ms.gov/Pages/Individual-FAQs.aspx#23
“Taxes withheld by Mississippi casinos as a result of gambling
winnings are not refundable in Mississippi. Mississippi residents are
not required to report Mississippi gambling winnings as income on their
state return.”
—In vpF…@…com, <rossx_98@…> wrote :
It’s not hard to do - get a state tax form and file it - I’ve done it and got my money back.
IL has you fill out an IL-1040CR. W2G income which is “taxed” in other states lets you take a credit in IL for the lower of the tax paid or the IL tax rate which is currently 4.95%.
I do not know whether you can treat the Mississippi charge as a tax? I have never had a taxable in Mississippi.
Howard W. Stern
On Sunday, March 18, 2018 3:27 PM, “don ross rossx…@…com [vpFREE]” <vpF…@…com> wrote:
P.S. I believe this is also true in Illinois.
On Sunday, March 18, 2018, 11:58:38 AM EDT, harry.por…@…net [vpFREE] <vpF…@…com> wrote:
Not sure what you’re referring to as “contrary” (as far as exclusion of in-state gambling income from MS resident income tax returns, that’s because the income is taxed via the equivalent of an “excise tax” at the time of jackpot payout, rather than an income tax.)
But, yes, in many other states it’s possible to reclaim some or all of withheld income tax on gambling winnings as a non-resident by subsequently filing a return for that state.
As far as “not have any taxes taken out”, in my limited experience I’ve found that state withholding (where it applies) is mandatory. If you have further specific information re states where state tax withholding is optional, please share.
—In vpF…@…com, <rossx_98@…> wrote :
That’s a contrary statement, isn’t it? Now in all honesty, this was years ago and I could have been mistaken about the state - I’ve gambled in many states and have learned not to have any taxes taken out.
On Sunday, March 18, 2018, 12:19:28 AM EDT, harry.porter@... [vpFREE] <vpF...@...com> wrote:
<re: getting a refund of gambling tax withholding on winnings in MS>
You must excel with “sleight of hand”, rossx, (at least where MS tax withholding on gambling winnings is concerned):
http://www.dor.ms.gov/Pages/Individual-FAQs.aspx#23
“Taxes withheld by Mississippi casinos as a result of gambling
winnings are not refundable in Mississippi. Mississippi residents are
not required to report Mississippi gambling winnings as income on their
state return.”
—In vpF…@…com, <rossx_98@…> wrote :
It’s not hard to do - get a state tax form and file it - I’ve done it and got my money back.
Are you sure? I believe that all IN taxables have an instant 3.4% takeout for the IN state tax. You do not have to have Federal income tax taken out. Since I am the vpfree2 monitor for the Majestic Star in that state, I have occasionally had a taxable there though sadly none in 2017 or 2018. My late Mom’s last royal was on 12/22/16 ($1,853 on a 25c progressive.) and they automatically made the state tax takeout.
Howard W. Stern
On Sunday, March 18, 2018 3:25 PM, “don ross rossx…@…com [vpFREE]” <vpF…@…com> wrote:
Here in Indiana, it is not manatory to have taxes taken out at the time of winning a jackpot - they always ask if we want them taken out or not - I do not have taxes taken out. We do have to pay at the time of filing our income taxes so it is one lump sum.
On Sunday, March 18, 2018, 11:58:38 AM EDT, harry.por…@…net [vpFREE] <vpF…@…com> wrote:
Not sure what you’re referring to as “contrary” (as far as exclusion of in-state gambling income from MS resident income tax returns, that’s because the income is taxed via the equivalent of an “excise tax” at the time of jackpot payout, rather than an income tax.)
But, yes, in many other states it’s possible to reclaim some or all of withheld income tax on gambling winnings as a non-resident by subsequently filing a return for that state.
As far as “not have any taxes taken out”, in my limited experience I’ve found that state withholding (where it applies) is mandatory. If you have further specific information re states where state tax withholding is optional, please share.
—In vpF…@…com, <rossx_98@…> wrote :
That’s a contrary statement, isn’t it? Now in all honesty, this was years ago and I could have been mistaken about the state - I’ve gambled in many states and have learned not to have any taxes taken out.
On Sunday, March 18, 2018, 12:19:28 AM EDT, harry.porter@... [vpFREE] <vpF...@...com> wrote:
<re: getting a refund of gambling tax withholding on winnings in MS>
You must excel with “sleight of hand”, rossx, (at least where MS tax withholding on gambling winnings is concerned):
http://www.dor.ms.gov/Pages/Individual-FAQs.aspx#23
“Taxes withheld by Mississippi casinos as a result of gambling
winnings are not refundable in Mississippi. Mississippi residents are
not required to report Mississippi gambling winnings as income on their
state return.”
—In vpF…@…com, <rossx_98@…> wrote :
It’s not hard to do - get a state tax form and file it - I’ve done it and got my money back.
Lots of old and outdated and just plain wrong info being posted here on this subject. Also there is confusion about STATE and FEDERAL withholding rules. Usually there isn’t required FED withholding unless you a non-USA-resident or you don’t give your SS#. You can request Fed withholding but not all casinos want to “bother” with that.
State withholding depends on the state rules. I do know it is mandatory in Indiana and LA and in some other states but I don’t have that list. I plan to add that in the new edition of the tax book.
MS is a special case. Here is the verified info from the 2015 edition of “Tax Help for Gamblers.” I am just starting to work on the 2018 edition and haven’t verified this particular section recently but I believe nothing has changed since 2015.
MISSISSIPPI—A CATEGORY OF ITS OWN
JEAN: Finally, there’s Mississippi, which adds a new kink to state income taxes on gambling. Formerly, they automatically withheld 5% state income tax from W-2G jackpots, but in 2002 they began taking out a 3% tax. For a couple of years, no one really knew what to call it. Was it a gambling tax? Was it a sin tax, similar to the one on cigarettes? Finally, the state, in the instructions for their state tax forms, began calling it a “non-refundable state income tax.”
MARISSA: Mississippi residents do get a small break, wherein the W-2G amount doesn’t have to be counted in their gross income for state income-tax purposes. And non-residents who live in a state with an income tax may take the withheld Mississippi tax as a credit
on their state taxes if they’ve counted Mississippi winnings in their gambling income. Or those who itemize on their federal return could list the withheld amount as a deduction on Schedule A, under State Income Taxes. It is, however, a preference item for figuring the Alternative Minimum Tax, which means that the deduction could hurt you in certain situations. If you are a recreational gambler who doesn’t fit into any of the above categories, that withheld amount is a permanent loss. Gamblers who file as professionals may take this Mississippi withholding tax as a business expense.
JEAN: If I still lived in Indiana and hit a W-2G jackpot as I did before this new law went into effect, I wouldn’t need to go through the hassle I described earlier of filing a non-resident Mississippi state return. I could simply take the amount of the Mississippi tax withheld as a credit against my Indiana state taxes. Since I now live in Nevada, which has no state tax, and I file as a business, if I have Mississippi tax withheld, I can list that amount as a business expense.
It has been a few years since I had a play in Indiana, but state
was automatically withheld. MI, too, I think? Illinois, no. WI,
no… but the first year they gigged me, an out of state player,
for a late penalty. Not paying quarterly, I guess. dumb.
Louisiana, yes, automatically withheld.
C
On 3/18/2018 5:35 PM, Howard Stern
[vpFREE] wrote:
pyi…@…net
Are you sure? Ibelieve that all IN taxables have an instant 3.4% takeout for
the IN state tax. You do not have to have Federal income tax
taken out. Since I am the vpfree2 monitor for the Majestic
Star in that state, I have occasionally had a taxable there
though sadly none in 2017 or 2018. My late Mom’s last royal
was on 12/22/16 ($1,853 on a 25c progressive.) and they
automatically made the state tax takeout.
Howard W. Stern
On Sunday,
March 18, 2018 3:25 PM, “don ross [vpFREE]” wrote:
Here in Indiana, it is not manatory tohave taxes taken out at the time of
winning a jackpot - they always ask if we
want them taken out or not - I do not have
taxes taken out. We do have to pay at the
time of filing our income taxes so it is
one lump sum.
On Sunday, March 18, 2018,11:58:38 AM EDT,
[vpFREE]
wrote:
Notsure what you’re
referring to as
“contrary” (as far as
exclusion of in-state
gambling income from MS
resident income tax
returns, that’s because
the income is taxed via
the equivalent of an
“excise tax” at the time
of jackpot payout,
rather than an income
tax.)But, yes, in many otherstates it’s possible to
reclaim some or all of
withheld income tax on
gambling winnings as a
non-resident by
subsequently filing a
return for that state.As far as "not have anytaxes taken out", in my
limited experience I’ve
found that state
withholding (where it
applies) is mandatory.
If you have further
specific information re
states where state tax
withholding is optional,
please share.---In,
wrote :
rossx…@…com<vpF…@…com>
harry.por…@…net<vpF…@…com>vpF…@…com<rossx_98@…>
That's a
contrary
statement, isn’t
it? Now in all
honesty, this was
years ago and I
could have been
mistaken about the
state - I’ve
gambled in many
states and have
learned not to
have any taxes
taken out.
On Sunday, March 18,
2018, 12:19:28
AM EDT,
harry.porter@…
[vpFREE]
wrote:
<re:
getting a
refund of
gambling tax
withholding on
winnings in
MS>
You must excel
with “sleight
of hand”,
rossx, (at
least where MS
tax
withholding on
gambling
winnings is
concerned):
[http://www.dor.ms.gov/Pages/Individual-FAQs.aspx#23](http://www.dor.ms.gov/Pages/Individual-FAQs.aspx#23)
"Taxes
withheld by
Mississippi
casinos as a
result of
gambling
winnings are
not refundable
in
Mississippi.
Mississippi
residents are
not required
to report
Mississippi
gambling
winnings as
income on
their
state return."
---In
,
wrote :
It's not
hard to do -
get a state
tax form and
file it - I’ve
done it and
got my money
back.
<vpF…@…com>vpF…@…com<rossx_98@…>
Michigan does not automatically withhold state tax. You can request it to be withheld. Michigan will also penalize you if you don’t have enough withheld to cover your tax liability. I don’t know what the threshold is for that.
Penalty looks like if tax liability is $500 or more
http://www.michigan.gov/documents/taxes/MI-2210_609023_7.pdf
At 4.25% tax rate would be taxable income of $11764.71.
taxguyy
-----Original Message-----
From: greeklandjoh…@…com [vpFREE] <vpF…@…com>
To: vpFREE <vpF…@…com>
Sent: Tue, Mar 20, 2018 9:29 am
Subject: Re: [vpFREE] Re: Indiana
Michigan does not automatically withhold state tax. You can request it to be withheld. Michigan will also penalize you if you don’t have enough withheld to cover your tax liability. I don’t know what the threshold is for that.
Okay. After my Wisconsin experience I must have had the presence
of mind to request it be withheld. I have been very unlucky in
Michigan until last year when I hit 2 royals in the space of about
20 hands.
C
On 3/20/2018 7:29 AM,
[vpFREE] wrote:
greeklandjoh…@…com
Michigan does not automatically withhold state tax. You canrequest it to be withheld. Michigan will also penalize you if you
don’t have enough withheld to cover your tax liability. I don’t
know what the threshold is for that.