Does Michigan Tax Casino Winnings
The takeaway here is that the IRS treats any gambling or contest winnings as income. You should report all of it, even if the casino or other payee doesn't hand you a tax form to fill out. State tax laws apply too so be sure to check with your state's department of revenue to determine your liability source: Ritchie. Arizona features a relatively low 4.54% tax rate on gambling wins. The Hoosier State features several casinos, multiple sportsbooks, and regulated online betting. Indiana taxes winnings at a 3.23% rate. Michigan offers 26 casinos, including three commercial venues in Detroit and 23 tribal establishments throughout the state.
Yes, the tax deadline for the IRS (and federal estimated payments for the first two quarters) is July 15th. However, not all states conformed to this–especially for estimated payments. The following states all have first quarter estimated payments for individuals that are due tomorrow, April 15th:
Does Michigan Tax Casino Winnings 2019
- Arkansas
- District of Columbia
- Hawaii (due April 20th)
- Illinois
- Iowa (due April 30th)
- Kentucky
- Michigan
- Minnesota
- New Hampshire
- New Jersey
- North Carolina
- Oregon
Michigan State Tax On Casino Winnings
So if you need to make estimated payments for 2020 for one of these states, do so. If you are mailing your payment, use certified mail (but not return receipt requested–there’s a possiblity no one is there to pick up the mail).