Taxable Games in U.S. Casino and Gambling Establishments
Canadians and other non-U.S. citizens who visit the U.S. and are actually fortunate enough to earn some winnings through gambling are often confused or misinformed about tax laws on these winnings. Refund Management Services was formed for this very purpose, to help visitors to the U.S. recover all or part of their taxes incurred through earnings from gambling.
One question Refund Management Services receives time and time again is: what games qualify for this gambling tax refund? While some game winnings are not eligible for a tax refund, we can help recover at least the majority of those taxes for games in casinos on slot machines, the lottery, any gaming tournaments including blackjack and poker, keno, game show winnings, and any taxable gambling winnings from dog or horse wagering.
Gambling Tax Refunds
For any Canadian or other non-U.S. resident, trying to navigate through the sea of information associated with recovering taxes from gambling winnings in the U.S. can be incredibly difficult and time-consuming. It can certainly be complicated to accurately assess how much of those gambling taxes should be recovered.
Here is a breakdown of how some of these games are taxed:
- Slot Machine Winnings: Taxed if winnings reach or exceed $1,200
- Winnings at Poker Tournaments: Winnings are reduced by the buy-in or wager and taxed at $5,000 or more
- Lottery Winnings: Winnings must be 300 times the original wager with taxes once the earnings reach at least $600.00
- Horse Racing Winnings: Same principles as lottery winnings, with taxes starting on winnings of a minimum of $600.00 and 300 times the original wager
Refund Management Services was structured to handle these very issues. We have assembled a team of professionals, headed by a Canadian Chartered Accountant, who thoroughly understand the international gambling laws and have helped thousands of Canadians and other non-U.S. citizens recover taxes from their gambling winnings.
The next time you visit the U.S. to enjoy some responsible gambling and come out a winner, trust Refund Management Services to ensure you get all the money you’ve earned.