Income Tax Rules Could Hinder New Mass. Casino | NBC Connecticut

Income Tax Rules Could Hinder New Mass. Casino



    At least two of the companies hoping to open one of the Bay State's first commercial casinos say Massachusetts law needs revision if it is to avoid turning off gamblers and cutting into the state's take from casino and slot parlor profits.

    Las Vegas-based MGM and Wynn are calling for repeal of a provision requiring casinos to withhold 5 percent state income tax on certain gambling winnings over $600. They say neighboring states all use lower, federal thresholds and that makes them more appealing to a wide range of gamblers. Wynn suggets the provision will severely cut into who comes to play.

    The tax issue is among dozens of legislative changes that casino operators are seeking as Massachusetts prepares to issue its first expanded gambling license.