witholding taxes on winnings

[Scav]

Originally Posted by Holland Hacker

As stated the w/h kicks in at $5.K you should not have any on the exacta. Congrats on the hit!

Some states, if you cash them together, will combine them and if they are over 5k, you get nailed. IL is one of those states.

last year I hit a P4 for $7, all $1 tickets, that paid $1200 per $1. I cashed four the first day, and the next day I cashed the next three.