Paul L. Caron
Dean


Friday, July 30, 2010

NY Times Debate: Legalizing (and Taxing) Internet Gambling

New York Times Room for Debate, Should Internet Gambling Be Legalized?:

The House Financial Services Committee approved a bill on Wednesday that would lift the ban on Internet gambling by authorizing the Treasury Department to license and regulate Web-based nonsports betting operators. A companion measure pending before the House Ways and Means Committee would let the IRS tax winnings from online wagers.

While the legislation is a long way from becoming law, the prospect of taxing the winnings that have been estimated at $42 billion over 10 years would be a huge source of revenue for the government. Should Internet gambling be legalized?

https://taxprof.typepad.com/taxprof_blog/2010/07/ny-times-debate.html

News, Tax | Permalink

TrackBack URL for this entry:

https://www.typepad.com/services/trackback/6a00d8341c4eab53ef013485dd4ae0970c

Listed below are links to weblogs that reference NY Times Debate: Legalizing (and Taxing) Internet Gambling:

Comments