Stat4e specific?

[NickyD]

Do you think this state specific crap will effect biggier sites like FTP, UB etc...? I live in Illinois which seems to be one of these target states. /images/graemlins/frown.gif

[Ron Burgundy]

It's possible. You've gotta get the [censored] out of IL dude.

Did you know that you're not allowed to deduct gambling losses on your taxes in IL? It's the worst state in the country to be an internet gambler. I'm so glad I moved to Texas.

[Sarge85]

WA State here --- this state stuff suckkkkkkkksssss

Sarge/images/graemlins/diamond.gif

[Harkey]

[ QUOTE ]
It's possible. You've gotta get the [censored] out of IL dude.

Did you know that you're not allowed to deduct gambling losses on your taxes in IL?

[/ QUOTE ]

That's partly correct. You can't use gambling losses as an itemized deduction on your state taxes (you still can on your federal taxes). I believe that you can get around this by incorporating yourself.

[Ron Burgundy]

[ QUOTE ]
[ QUOTE ]
It's possible. You've gotta get the [censored] out of IL dude.

Did you know that you're not allowed to deduct gambling losses on your taxes in IL?

[/ QUOTE ]

That's partly correct. You can't use gambling losses as an itemized deduction on your state taxes (you still can on your federal taxes). I believe that you can get around this by incorporating yourself.

[/ QUOTE ]

That's what I meant, state taxes. You can just report the net income if you file as professional, but that's totally beside the point.

In my first full year of playing online poker, I made $36K, but had to pay IL state taxes based on a $108K income because that's what my net winnings totaled. The sad thing is, it was still better than filing as professional and paying the federal self-employment tax.

[dibbs]

All,

Anyone here have enough knowledge to make an educated guess of what states will be safehavens in this regard? I thought I would be able to guesstimate it pretty well but some of my safe guesses already appeared on the list.