Quote:
Originally Posted by trevier
how much do you actually get after the state and uncle sam get there share?
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5K or under they hold just state. Over 5k they hold state and Fed. You can claim a loss for Fed at the end of the year and get it back. But you can't equal out state with a loss (even with receipts). The state gets their share no matter what. Also if you go on vacation and win at a casino, cruise, or any other lottery in any other country the state of Ma will tax you on it, even though it wasn't won in the US.
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