A new bill emerged recently and is now pushed by the Nevada Gaming Control Board in the legislation, as it envisages taxation of net profits earned from online poker tournaments, which are differentiated from similar live tournament projects in land casinos, which are untaxed.
According to the NGCB chairman A.G. Burnett, the bill SB9 which is now with the state Senate Committee on the Judiciary, will change the status quo by the time the first licensed Nevada online poker operators are operational.
He also explained why on-site tournaments are not taxed - because they are promotional events for gambling institutions that require significant investment by the host for utilities, floor space rental fees, food and beverages, while online tournaments do not have the same expenses.
However, he specified that the tax proposed in SB9 will not extend to prizes won by players gambling online.
Your feedback
Please enter your comment.
Your comment is added.
