Refund Management Services Reacts to Recently Announced Increase in U.S. Indian Gaming Revenue
Refund Management Services weighs in on increasing U.S. Indian gaming revenue and reminds non-U.S. residents that winnings could be subject to a 30% withholding tax.
Toronto, Canada – September 1, 2015 /MarketersMedia/ —
Refund Management Services (www.RefundManagement.com), the number one choice for Canada’s biggest winners for U.S. gaming and casino tax refunds, is reacting to recently released data showing how U.S. Indian gaming revenue increased by 1.5% in 2014, marking the fifth consecutive year of growth of gross gaming revenues since 2009. The company also reminds non-U.S. residents that any of their winnings could be subject to a 30% withholding tax by the IRS.
Recently released data from the National Indian Gaming Commission (NIGC) shows that revenue by the Indian gaming industry in 2014 increased 1.5% year-over-year to $28.5 billion from $28.0 billion in 2013. The U.S Indian gaming industry spans more than 450 gaming establishments and is associated with nearly 242 tribes across 28 states. (Source: “2014 Indian gaming revenues increase 1.5 percent,” National Indian Gaming Commission web site, July 23, 2015; http://www.nigc.gov/Media/Press_Releases/2015_Press_Releases/PR-239_07-2015.aspx.)
“While most people associate Las Vegas with gambling, the fact of the matter is, the biggest casinos in the U.S. are located on Native American reservations and generate more income than Atlantic City and Las Vegas combined,” says Brooke Sacks, vice president of marketing & business development, at Refund Management Services (RMS). “The strength of the U.S. Indian gaming revenue is a barometer on the health of the gaming industry in the U.S.”
Sacks explains that the three biggest casinos in the U.S. are all on Native American reservations: The WinStar World Casino and Resort in Thackerville, Oklahoma, which is owned and operated by the Chickasaw Nation, has a 500,000-square-foot gaming floor; Foxwoods Resort Casino resort in Mashantucket, Connecticut is owned and operated by the Mashantucket Pequot Tribal Nation and is a complex of six casinos; while Mohegan Sun, in Uncasville, Connecticut, owned and operated by the Mohegan Tribe of Connecticut, has a 364,000-square-foot casino.
“Canadian and other non-U.S. tourists who visit any of the 450-plus gaming establishments on Native American reservations need to keep in mind that winnings of $1,200 and over are considered income and could be subject to a 30% withholding tax by the IRS,” Sacks adds. “If someone happens to win $1,500 on the slots or playing baccarat, they will leave the casino with just $1,050.”
“There are ways for Canadians and non-U.S. residents to recover some or all of the 30% of their gambling winnings. The Canadian Chartered Accountants at Refund Management Services are registered agents of the IRS and have helped thousands of people successfully file their U.S. casino tax refund and recoup their winnings since 1998,” Sacks concludes.
To find out how Refund Management Services can help with U.S. gambling tax recovery, visit www.RefundManagement.com.
Founded and owned by a Canadian Chartered Accountant, Refund Management Services is the most reputable casino and gaming tax recovery service in the industry. As registered agents of the IRS, Refund Management Services (RMS) helps Canadians and other non-U.S. residents recover all or a portion of their taxes up to three years after their winnings have been withheld. With the expertise in gaming-related tax laws, RMS understands all the IRS requirements to ensure that any entitled refund is successfully recovered. RMS only gets paid for successful gambling tax refunds. RMS is a member of the Better Business Bureau and the Las Vegas Chamber of Commerce.
Contact Refund Management Services toll free from the United States and Canada at 1-888-272-5559. Or email RMS: info@refundmanagement.com.
For more information about us, please visit http://www.refundmanagement.com/
Contact Info:
Name: Brooke Sacks
Organization: Refund Management Services
Address: Yonge Norton Centre 5255 Yonge St., Suite 1300 Toronto, ON
Phone: 416-443-3360
Release ID: 90348
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