The Gaming Commission is considering asking lawmakers to raise the minimum amount of winnings subject to state tax requirements, arguing that failing to do so could cost the Bay State as much as $58 million in lost revenue by driving gamblers to less restrictive states.
Chairman Stephen Crosby said he would draw up a proposal for the panel's consideration after a majority of commissioners yesterday said they supported raising the $600 threshold.
"In the judgment of our consultants, the amount of money we would gain (in taxes by keeping the $600 threshold) would be less than the money we would lose," Crosby said.
Federal law requires tax forms to be completed on winnings of $1,200 or more for slot machines, and for other types of gambling — such as racing — when the winnings are both $600 or more and at least 300 times the original bet.
Of the 23 states that have commercial gaming, Crosby said, at least 18, including Connecticut and Rhode Island, use either the federal standard or none at all.
"The industry is not crying wolf here," Crosby said of the complaints the commission has received from gaming license applicants. "We are substantially out of step (with other states)."
Commissioner James McHugh, however, said he does not favor raising the threshold to $1,200.
"I just have difficulty catering to people who don't like paying taxes," he said.
But Richard McGowan, a Boston College professor who has written extensively about gaming, said Massachusetts' threshold is "unnecessarily low."
"To have to start declaring your winnings on the spot is going to discourage a lot of people," he said.
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