Titus Bill Would Raise Slot Jackpot Tax Reporting Limit to $5,000
Should Nevada raise the reporting limit for slot machine winnings?
Representative. Dina Titus says things have changed dramatically in Nevada since 1977. That’s when the state was the only state offering legal casino gambling. Hard to believe, now.
Since then, whenever a slot player wins a jackpot of more than $1,200, the casino, convenience store, bar, restaurant, even the airport — is required to provide paperwork to report those winnings to the Internal Revenue Service.
The first Atlantic City casinos opened back in 1978, and over the years commercial, and tribal casinos have expanded to 48 states, and many of them, of course, have casinos with slot machines.
Dina Titus introduced a bill last year to raise the reporting limit but it never made it to a vote. Under Titus’ proposal, the limit would be raised to $5,000 and indexed to inflation so that the amount would keep up over time.
Titus said she is hoping to receive bipartisan support from states that have some form of commercial or tribal gaming. She said in an interview, “One of the important things is we’re not just doing this just for Las Vegas, we’re doing it for everybody,” said Titus – whose legislative district includes the Las Vegas Strip.
Brendan Bussmann, a gaming industry analyst with Vegas-based B Global, says he isn’t so sure the legislation can succeed. “The challenge that we are going to face is that you have a dysfunctional legislative body that won’t see this as a bipartisan issue,” Bussmann told the Review-Journal. Big surprise – since everything is partisan these days.
Bussman went on to explain that it’s just plain time to update the system, and up the limit on taxable winnings. “This should be a no-brainer, but in an age where we live by continuing resolutions, this gets lost in the shuffle.”
Currently, when a casino patron wins a slot machine jackpot of $1,200 or more, the machine is temporarily taken out of service while the customer completes a W-2 form. The bill would be a benefit to casinos, which would need to take fewer slot machines out of service temporarily while tax forms are filled out for winning customers.
It also would have the practical effect of preventing more slot jackpot winners from having their winnings reported to the government. And who wouldn’t want that?!
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Is Las Vegas The Most Stressful City to Work In?
1. Houston, Texas
Everything is bigger in Texas, including the stress levels for workers. Texas cities dominate the list of most stressful places to work. Houston comes in at No. 1. Overall, workers in Houston clock in an average of 39.5 hours per week at work, which is above the national average of 38.7 hours. Houstonians also have an above average daily commute of 52.8 minutes roundtrip. One in three are on the road each morning before 7 a.m.
Along with long hours and commutes, many workers in Houston lack health insurance. The percentage of workers in Houston without health insurance (30.4%) is well above the national average (10.5%).
And when it comes to stressful financial factors, 46.6% of families in Houston are single-income families. The income growth rate in Houston (4.5%) is below the national average (6.2%).
Workers in Houston also have limited flexibility in terms of remote work, according to Census Bureau data. Studies have shown that working remotely can reduce work-related stress, but only 15.6% of Houstonians work remotely, which is also below the national average (17.9%).
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2 Arlington Texas
Head to the Dallas-Fort Worth area to find the second most stressful city for workers. Arlington, Texas is number 2. It’s located roughly 20 miles from Dallas. its long average workweek (39.9 hours) and long commute (52.2 minutes roundtrip) are rough. 29.5% of workers in Arlington start their commute before 7 a.m. each day. Nearly half (49.6%) of families in Arlington are single-income families, which is well above the national average (38.6%).
Elsewhere, the income growth rate in Arlington (3.4%) is nearly half of the national average (6.2%). These factors, combined with a low percentage of remote workers and high percentage of workers who lack health insurance led to Arlington being ranked at the No. 2 spot on our list.
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3. Dallas, Texas
Dallas, Texas has one of the highest average workweeks, so it’s no surprise why the city ranks so high on the list. Overall, workers in Dallas clock in an average of 40.2 hours per week, which is well above the national average of 38.7. Among the more than 170 cities within our analysis, Dallas ranks ninth for longest workweek.
Compared to Houston and Arlington, Dallas has a slightly lower average commute of 51.4 minutes roundtrip. Among commuters, one in three (30.8%) are on the road before 7 a.m. daily. Elsewhere, one-quarter work without health insurance, which is well above the national average (10.5%).
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Memphis, Tennessee
Memphis is the first city on our list located outside of Texas, but the stress levels don’t improve much for those working in Memphis.
Overall, the average workweek in Memphis is 39 hours, which is above the national average. And workers in the city find themselves with an average commute time of 43 minutes roundtrip. Nearly one in three begin their commute before 7 a.m. in order to get to work.
Memphis is home to one of the highest percentages of single-income families (52.6%). In fact, the city ranks No. 11 for the most single-income families on the list of more than 170 cities within our analysis.
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5. Las Vegas, Nevada
Casinos are open all day and all night, so chances of having a “regular” schedule are often slim.
More than one-third (35%) of workers in Vegas and 44.3% of workers in North Las Vegas leave for work before 7 AM. In fact, nearly one-quarter (27%) of Vegas workers are on the road before 6:30 AM. Among workers in Vegas, 16.6% are employed without health insurance, which is above the national average of 10.5%. In nearby North Las Vegas, the number is slightly higher at 17%.
The income growth rate in Las Vegas (5.1%) trails the national average (6.2%). It might be the Entertainment Capital of the World, but it’s a very stressful place for workers to keep it running.
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