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The Chip Board Archive 23

Taxes discourage MS tourist visits
In Response To: That's part of the equation ()

Thursday, March 27, 2014

Gambling Winnings

Gambling winnings reported on a W2G, 1099, or other informational return from Mississippi casinos are subject to a three percent (3%) non-refundable income tax. The casinos withhold the tax at the time of payout.

The amount withheld is non-refundable to the taxpayer. Section 27-7-901 of the Mississippi Code provides that the amount of winnings reported on W2G, 1099 or other informational return from Mississippi casinos are not included in Mississippi income and no income tax credit is allowed for the amount of withholding.

A non-resident taxpayer with only Mississippi gambling winnings and/or losses should not file a Mississippi tax return. The document provided by the casino is considered the income tax return for this type of Mississippi income and therefore is proof that the tax was paid to Mississippi.

At least Louisiana lets a non-resident player file a tax return and get most of the state IC tax refunded.

Messages In This Thread

Harrah's Tunica - Closing
Memo from Gary Loveman
Just another hotel/casino Caesars......
That's part of the equation
Taxes discourage MS tourist visits
Harrah's Tunica Closing - Links to articles
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