Taxes on big wins

So does anyone know how much tax they take out of big sports book wins? I've seen the possible payouts on 12 game parlay cards and was curious see at what rate it's taxed at.

No doubt there are other, more experienced folks on these boards who might be able to add some personal experience, but I know that the Great State of Nevada does not have a state income tax, so Carson City won't take anything. I'm not sure if the county has a tax, and frankly I'm not sure if the Strip falls under the jurisdiction of the City or not (I've heard that the Strip isn't actually in LV proper). I can tell you that the casino will typically hold 30% but that's only to offset whatever taxes you'd owe come the following year when you have to file your 2013 taxes. Now, for what it's worth, when I hit a royal on a .50 c VP machine, they paid me the full $2K. But that's the only W2G win I've ever had. I'm not sure about A) larger wins or B) Sports book wins. Maybe they hold nothing and you're on the hook 100% come April 15, 2014.

I look forward to seeing other's responses to your question! Thanks for posting that!

Nevada, the Silver State, does not have an income tax. Clark County, which encompasses Southern Nevada, does not tax gaming winnings.

Technically, if I remember correctly, the strip south of Sahara is not in the City of Las Vegas, but rather unincorporated Clark County.

There are 5 jurisdictions in the greater Las Vegas area, none of which impose taxes on gaming winnings. They are the City of Las Vegas, North Las Vegas, Henderson, Boulder City and unincorporated Clark County. They do have authority to impose certain taxes, such as a franchise fee on telecommunications.

There are some unincorporated towns in the area as well, such as Paradise and Winchester, but I do not believe they have any taxing authority, as they are governed by the Clark County Commission.

Interesting...

Thank you, Don, for posting that bit of trivia. I find that sort of stuff fascinating!