Pa State Income Tax Gambling Winnings
- Gambling winnings, just like any other income, are taxed in the United States. If you raked in gold last year for sports betting, keep reading. In this post, we discuss everything you need to know about paying tax on sports betting.
- In Maryland, for example, you must report winnings between $500 and $5,000 within 60 days and pay state income taxes within that time frame; you report winnings under $500 on your annual state tax.
Download or print the 2019 Pennsylvania (PA Schedule T - Gambling and Lottery Winnings) (2019) and other income tax forms from the Pennsylvania Department of Revenue. All gambling winnings are taxable income—that is, income subject to both federal and state income taxes (except for the seven states that have no income taxes). It makes no difference how you earn your winnings-whether at a casino, gambling website, church raffle, or your friendly neighborhood poker game. State taxes on sports wagering are calculated on a casino's gross winnings or 'hold' from betting – not on the total amount wagered by bettors. According to Pennsylvania law, the 36 percent tax is assessed on 'gross sports gaming revenue,' which is defined as the amount of money placed in bets minus the cash that is paid back to winners.
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