tax on sports betting in nj
jets96
Senior Member
Read that the state wants to charge 8.5% tax if bet in a casino or racetrack and 13% if bet are made online. Locals are still going to be ok if thats the case.
Comments
That’s a tax on total revenue, not on total handle. Still a lot of $ to be made I’d think at 20-cent lines.
probably the same as the track, they hold or fill out the form for over 600 to 1 or whatever, would that also mean our legally placed losses are deductible as well?
And it’s a good assumption that losses on sports betting in the 49 “new” states would be treated the same as losses at the track from a federal tax standpoint (and the same as losses in Nevada today).
They'll take more from a known player according to WH
And if blocked by Trump on Twitter $500 max..