[vpFREE] Re: Bob Dancer's CasinoGaming Column - 17 MAR 2009

Sad, but you heard correctly. No fading wins with losses on Michigan state
tax returns unless filing as a professional gambler. If you win, you pay.
Period. Plus it has a negative impact on the Homestead Tax Exemption, a
property tax rebate of sorts for homeowners that is indexed by income.

- Brian in MI



paladin writes:

MI is 4%, but only taken from non-residents. It is theoretically refundable,
but I have heard you can't deduct losses from wins.

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