The maximum Ohio tax rate is 6% on income OVER $200K. And Ohio now allows gambling loss to offset gambling wins. Why in the world you would have them hold almost 40% is beyond me.
--- In vpFREE@yahoogroups.com, "tangboy5000" <tangboy5000@...> wrote:
>
> Yes, in Cincinnati. City is 3%, I can't recall what the state was. And yes, they automatically take out city and state. If you also have them withhold the 20% federal, it ends up being almost 40% of your win between the three.
>
> --- In vpFREE@yahoogroups.com, "Queen of Comps" <queenofcomps@> wrote:
> >
> > <<Yes they take out state taxes right away, and give you the choice to have 20% taken out for federal taxes. The big difference when gambling in Ohio that people should be aware of is that: If you owe back taxes to the state of Ohio or the feds; or if you are behind on child support or owe any money to the state of Ohio they will deduct it from your W2G generated winnings and give you the difference, if any at all. >>
> >
> > Was this in Cincinnati? Did they take out both state and city taxes? Do you know the % of each or the total?
> >
> > ------------------------------------------
> > Jean $¢ott, Frugal Gambler
> > http://queenofcomps.com/
> > You can read my blog at
> > http://jscott.lvablog.com/
> >
> >
> > [Non-text portions of this message have been removed]
> >
>
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