Quote:
Originally Posted by 800over  I'm heading to Vegas for the first time in a few weeks. I'm planning to play in a few tourneys. Anyone know what the witholding is for non residents (ie Canadians)? Does it happen only in tourneys, or can the hold back cash game winnings too? Is there a minimum amount that you have to win (I've heard from $500 to $1200 is where they start)? Anyone with some experience feel free to chime in! |
Here is some vague info for you! It is to the best of my knowledge correct, based on the totally reliable basis of personal experience and what I have read (& remembered) on the internet over time.
I am quite sure that tax is only withheld on tourney (not cash) game winnings. The exception is, I believe, if you try to cash out for over $10 000 (I'm just gonna go ahead and assume this is not going to happen to you). If you do have that much in chips, cash out in two seperate trips. In this case, I don't think they actually withhold the tax, but they issue you a tax form and report it to the IRS. I am not positive though, this is based on my experience in California. Different casinos may also handle this a little differently, I remember there being some discrepencies between reporting and holding at different places on the strip. Tournies have a withholding, and I *think* the amount is $800 (???), but as a non-U.S. resident you can apply to get that back, but you have to wait until next year.
Edited to add: When is "a few weeks"? Sounds like you will be there too late, but did you know that a bunch of CT'ers will be there the weekend of the 10th-12th for the Sin City Showdown?
Linear Mode
