Sunday, June 19, 2011

New House Bill Would Require Withholding Taxes On Winnings

A House proposal to regulate and tax Internet gambling would require online gambling establishments to withhold taxes from net online winnings, and provide detailed information about gamblers to the government in an attempt to help ensure the collection of these taxes. It would also impose a two percent federal tax on Internet gambling providers, and give states the option of taxing these companies at a rate of six percent.

Full article from The Hill.

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