3 ms·
If I place a bet online do I pay a sales tax?
by 2OEH8eoCRo0 3y ago
If I place a bet online do I pay a sales tax?
- givemeethekeys 3y agoDepending on where you live, your winnings get taxed.
- 2OEH8eoCRo0 3y agoI'm aware that winnings are taxed buy why aren't bets subject to sales tax? You're buying a bet right?
- givemeethekeys 3y agoProbably the same reason why you don't taxed for the sale when you invest, or gamble in a casino or buy a lottery ticket.
- costco 3y agoGambling operators pay taxes on gross receipts beyond just ordinary corporate taxes that in most states range from 5-10% which also happens to be the typical range for sales tax. As well as a federal excise tax of 0.25% on all dollars wagered.