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Last Updated: 11/2/2017

New Rate for Withholding on Pari-Mutuel Winnings

​The withholding rate on pari-mutuel winnings is 9.85 percent. This affects businesses that pay horse race winnings when federal withholding is required. 

 

What payments are subject to withholding?

Withholding is required when the payoff of winnings exceeds $5,000 after deducting the amount of the bet, and is at least 300 times the amount of the bet. 

 

What law applies?

The law that applies is Minnesota Statutes, section 290.92, subdivision 27.