Dairyland has
a mandatory payout EVERY THURSDAY NIGHT on the exciting Twin Trifecta.
According to Wisconsin Division of Gaming rules, if no one has a perfect
second-half ticket on Thursday night, the Twin Trifecta Jackpot will be
split by ALL second-half exchange ticket! We guarantee the Twin Trifecta
Jackpot to be paid out every Thursday night*... perfect ticket or not.
(*within compliance of all Wisconsin Division of Gaming Rules)
Dairyland Greyhound Park
reserves the right to issue a check for winning amounts of $5,000 and over.
IRS Regulations: 1.
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IRS REGULATIONS: 1.
By order to the Internal Revenue Service, winnings of $600 or more, unreduced
by the amount of wagers, must be reported for every person paid gambling
winnings from greyhound racing. Form W2-G must be filled out for
every person paid $600 or more in winnings, if such winnings are at least
300 times the amount of the single wager. Form W2-G must be filled
out and Federal income tax must be withheld at the rate of 28% on any winning
payments of $5,000 or more in at least 300 times the amount of the single
wager. If more than one person shares in the winnings from a single
wager, the AGGREGATE amount of the winnings shall determine whether or
not the winnings are more than $5,000. In the case of multiple wagers
sold on one ticket, each wager shall be considered separate and distinct
for purposes of computing the amount to be reported or withheld, and Federal
income tax must be withheld if the winnings amount to more than $5,000.
Taxpayer identifying number and another ID must be presented before payment
can be made. No metal Social Security cards will be honored.
Foreign National take-out is 30% if the winnings amount to more than $5,000.
2. Effective January 1, 1994, NEW AGGREGATION REGULATIONS require
that gambling winnings from IDENTICAL WAGERS be aggregated to determine
whether those winnings are subject to 28% withholding tax. For example,
when a winning ticket in the $600 to $5,000 range is presented for payment,
the cashier at the designated IRS window is required to ask the patron
if they have identical wagers, and if so, how many. All such wagers
must be presented at the same time for aggregation by the cashier.
Should the patron state that they have no additional identical wagers it
will be shown on the form. The accuracy of a patron's action will
be determined by the IRS. The same rule applies to residents of another
country, but Federal income tax withholding of 30% is required. (An
IDENTICAL WAGER is one in the same race and wagering pool, notwithstanding
that the type of wager is a box, key or wheel.) 3. An additional
6.93% State of Wisconsin tax will be withheld on all winnings requiring
Federal tax withholding. 4. For Wisconsin tax purposes, tax
must be withheld at a rate of 6.93% on all winnings exceeding $1,000.00.
The 300:1 ratio (winnings to wager) does not apply.
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