Abstract:Under current federal and state laws within the United States, the taxation of gambling activities is complex and largely inefficient. At the federal level, taxes on gambling providers are virtually nonexistent outside of normal corporate taxation laws. At the state level, the varying tax regimes within states lead to a complicated reporting environment, with differing calculation methods and varying tax rates for gamblers and gambling operations. For individuals, tax reporting can be cumbersome, complex, and … Show more
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