New Jersey

[weesie]

Just in case you are interested:

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[rockycatt]

well Christyie's staff caused the problem

New Jersey is now projected to end the fiscal year in June with less revenue than expected, the third straight year Gov. Chris Christie's administration overestimated revenue collections on which the state budget is based

 

[Jasminebed]

Interesting read. The projections were WAY off, not just a little.

Are taxes withheld only on slot wins of over $1200? Or are they withheld from withdrawals? Since they take out-of-state players if they are physically in the state, how does that work?

Realistically, few players end up ahead long term at casinos. With online play all your deposits and withdrawals are recorded, so when it comes tax time (which really will be April 2015 for an accurate picture), will they end up owing players refunds on taxes withheld?

I think many online players are quite low rollers. I know I roll lower than I do when I go to the B&M.

 

[weesie]

Lots of good questions Jasminebed!

One thing I thought of too was if they tax the hell out of winnings at a "legal" internet casino, wouldn't that just make players want to continue with the other "available" on-line casinos??

 

[bigjohn]

Interesting read. The projections were WAY off, not just a little.

Are taxes withheld only on slot wins of over $1200? Or are they withheld from withdrawals? Since they take out-of-state players if they are physically in the state, how does that work?

Realistically, few players end up ahead long term at casinos. With online play all your deposits and withdrawals are recorded, so when it comes tax time (which really will be April 2015 for an accurate picture), will they end up owing players refunds on taxes withheld?

I think many online players are quite low rollers. I know I roll lower than I do when I go to the B&M.

Here in the US there are no NJ State taxes on any NJ casino wins, you only pay a Federal tax. State taxes are imposed on the casinos, not the players.