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#1
06-25-2009, 11:13 AM
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New Hampshire: 10% tax on $600+ winnings: even from out of State!
Not a good day for handicappers in New Hampshire.
From the Union Leader... Gambling winnings of more than $600 will be taxed at 10 percent. It applies to all who gamble here, and all state residents no matter where they gamble Is this done in other States? How the heck would they collect it? How will they track down my Mohegan Sun or Saratoga wins. And what if it costs me $80 to hit a $600 tri? Seems pretty un-American to me. I need to move. Edits: If I'm reading it correctly, it's basically an extra 10% tax on any W2-G you are issued...does that make sense? Also, I added some text of the bill here and attached. Here is the direct link to the budget: Crappy Gambling Tax Last edited by XIIPointStables : 06-25-2009 at 11:47 AM. Reason: added attachment/link 
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#2
06-25-2009, 11:46 AM
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I also heard, haven't verified it yet, that you cannot deduct gambling losses from it too and that it doesn't matter how much you spend to get the $600.
IL tracks are the standard, $600+ and 300X the original bet generate a W2G. Casino play's just like being in Vegas ($1200 hit on machine generates one). ------------------- first thing I'd do is to NEVER use a players card again (which would stink in a casino, as you'd lose all your comps), as that will be the first and best way for the state to track it.
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#3
06-25-2009, 02:33 PM
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I'd try and act surprised, but I am not in the least. This is NH we are talking about and granted, they live free or die, and have no sales tax or W-2 earnings tax, but they'll find any other way possible to squeeze some cash from you.
__________________
"Boston fans hate the Yankees, we hate the Canadiens and we hate the Lakers. It's in our DNA. It just is." - Bill Simmons
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#4
06-25-2009, 07:31 PM
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Quote:
They do like to brag about the no income tax thing though. Oh, and the no sales tax thing too, except for the things that they have sales tax on, of course.
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#5
06-26-2009, 06:54 AM
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**** NH
typical of the stigma against horseplaying
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#6
06-26-2009, 07:30 AM
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man, don't give ny any bright ideas
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