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bbrriiaann6
Rising Star
Bronze Level
lcid86
Legend
Loyaler
Try writing your congressman. I received a very similar, wordy response, that took absolutely no position and thanked me for contacting him. Until they figure out how to tax something for their benefit, they don't care.
A
always2away
Rock Star
Silver Level
I have been saying for years on this issue...be careful what you wish for. The folks who are taking a stance that government usually turns out to be a bigger problem for the average joe than a business out in the world, usually have a little more experience with such things in their personal history.
Government is greed and power and unstoppable force with unlimited resources (relative to the average joe or the average billionaire, for that matter).
Government in America was supposed to focus on protecting Americans lives and property, and it did just that for about a hundred years.
Today, Government is just as likely to destroy your life over what should be none of their damn business as they are to protect you.
Todays politicians are usually more focused on what they can extract from you in regulation and taxes than they are on protecting you from shady businessfolks. And when they do go after the shady ones they usually end up seizing citizens assets and levying fines against the offending shady business and everybody gets screwed (except the bureaucrats, of course).
Government is greed and power and unstoppable force with unlimited resources (relative to the average joe or the average billionaire, for that matter).
Government in America was supposed to focus on protecting Americans lives and property, and it did just that for about a hundred years.
Today, Government is just as likely to destroy your life over what should be none of their damn business as they are to protect you.
Todays politicians are usually more focused on what they can extract from you in regulation and taxes than they are on protecting you from shady businessfolks. And when they do go after the shady ones they usually end up seizing citizens assets and levying fines against the offending shady business and everybody gets screwed (except the bureaucrats, of course).
C
credsfan03
Visionary
Silver Level
I agree that a 30% tax will ruin the game of online poker. Nevada has legalized online poker so we will be able to see what the taxes are like soon.
deucem
Rock Star
Silver Level
I would think that the tax would be levied as some type of licence say $25,000/poker site/year rather than a % of winnings.
Maybe I am wrong and the states will go for a % of profits.
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Big_Rudy
Legend
Silver Level
^^ Not sure what you're referring to here. The sites will certainly be taxed on their profits, but most of the discussion is about how/how much PLAYERS will be taxed on their winnings. We've been over this ground in other threads before and, although no one knows anything definite yet, I would anticipate a personal tax in the area of 25-30%. That will just make it even tougher to turn any kind of post-tax profit for many players.
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dan abnormal
Legend
Platinum Level
If they dont do it federaly, it wont happen without headaches. Lets say Nevade starts online site tomorrow for Navadians. The same thing that is happening to the pot dispensaries in CA for medical Pot. Its ok in the state but the feds come into the state raid them and close them down or take the the money. You think the feds wont do that over and over to state run online poker. HMMM Navada party poker is out of line lets raid them, take the money and then tell players, Its not legal federally
WEC
Legend
Silver Level
There are no plans for an additional tax on players. Online Poker Players are already responsible for paying taxes. And 'Gambling Taxes' are already much more onerous then 'Regular Income Taxes' in the US
Now, they may introduce Withholding and/or W2Gs (or similar) for a threshold, but I have not read what they are doing there in the current Federal Draft Legislation.
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Big_Rudy
Legend
Silver Level
Yeah, it's all just speculation at this point, but I really doubt online poker will be allowed back in the US in any meaningful form without the government guaranteeing that they get their share. You are right, of course, in that online players are already responsible for paying taxes, and although I'm sure we all abide by that
, I really think that other steps will be implemented to ensure that the required taxes are paid.
So, perhaps it's better not to say "new taxes", but instead "new enforcement polices of existing tax laws", or something in that vein. Either way, not good for the recreational player who made any kind of profit, no matter how small, and will likely now be forced into giving Uncle Sam a cut.
FWIW, I expect, note I said expect, the site to be responsible for the withholding and just automatically deduct it from any cashout that you request. I actually would not be surprised if there were no floor at all to this amount and that any cashout, no matter how small, will face automatic deduction of the required withholding amount. But, only time wil tell, I guess. Never-the-less, color me pessimistic .
, I really think that other steps will be implemented to ensure that the required taxes are paid.So, perhaps it's better not to say "new taxes", but instead "new enforcement polices of existing tax laws", or something in that vein. Either way, not good for the recreational player who made any kind of profit, no matter how small, and will likely now be forced into giving Uncle Sam a cut.
FWIW, I expect, note I said expect, the site to be responsible for the withholding and just automatically deduct it from any cashout that you request. I actually would not be surprised if there were no floor at all to this amount and that any cashout, no matter how small, will face automatic deduction of the required withholding amount. But, only time wil tell, I guess. Never-the-less, color me pessimistic
.