Bad/Good News for Players in Ohio Casinos

Read this newspaper article to learn how the 4 cities in Ohio who have, or soon will have, a casino are going to extract some money from gamblers.  Toledo, Cleveland, Cincinnati, and Columbus all are imposing a city income tax on gambling wins.  Each have their own rules:  what % the tax will be, whether it is for residents only or for anyone who plays there regardless of their residence, whether there will be withholding by the casino, and at what threshold the tax kicks in.

Fortunately, Ohio is giving some state income tax relief to gamblers in the future, changing a previous rule that no deduction is allowed for gambling losses.  Beginning in 2013, Ohio residents will be allowed to deduct their gross gambling losses to offset gross wins on their state returns.

This entry was posted in Taxes. Bookmark the permalink.

2 Responses to Bad/Good News for Players in Ohio Casinos

  1. MarilynAnn says:

    I second the above comment. It’s clean, it’s winning, it’s very nice – pricy on the menu, however. Beats all 3 Detroit casinos and I’m from there.

  2. Steve Kallis says:

    I have been to the new Hollywood Casino in Toledo and it is beautiful! It reminds me of the MGM when they had their Hollywood theme. As far as the possibility of a city tax, that is too bad. The good news is that the three times we have been there, we have left winners.

Comments are closed.