Columbus, OH City Council Members Vote For 2.5% Tax On Gambling Winners

Columbus, OH City Council Members Vote For 2.5% Tax On Gambling Winners

“The income tax can be offset if it is paid in another city,” said Council President Andrew Ginther. “In Cincinnati, for example, where the rate is two percent, residents would only be responsible for 0.5 percent tax.”

Gamblers may also be able to offset the tax by tracking their gambling losses. This is allowed by the federal government, but it’s unknown if the city’s code will allow individuals who document their annual wins and losses to use it to offset any taxes. Gamblers who use their player cards when gambling can generally contact a casino and ask for an annual account statement.

Gamblers who win a jackpot over $1,200 at a video gaming machine or slot machine will have to fill out a federal tax return before collecting their winnings in nearly all cases.

American Casino Guide