Borgata and Taxes on Winnings

[ed]

i recently won a $1,200 jackpot at Borgata. I asked them to withold 15%for taxes. they refused.

I have won over 100 jackpots at over 25 casinos and this was first time this has happened. I thought if requested they had to withhold. comments appreciated. thanks.

[iam4jacks]

Re: Borgata and Taxes on Winnings

First, why would you want a casino to withold monies won? Stick your projected tax burden in an interest bearing account if you can't handle April 15th.

Some casinos don't even consider writing checks for $4k royals.

The other casinos did it as a courtesy, for goodwill, but it is a pain-in-the-ass for their accountants.

[Bob]

Re: Borgata and Taxes on Winnings

I was once told that if you have the casino in NJ take federal, then they have to also hold 15% for the state. That's why they don't like having to do it.