Gambling Taxes Hit Low-Income Bettors Hardest

Poole College accounting professor Nathan Goldman recently explained the effects of N.C. tax law on online bettors in a report from Spectrum News 1. The state taxes online winnings, but losses aren’t deductible.

“The lower-income taxpayers are going to feel this because that’s just digging away at the deductions they otherwise get,” said Goldman, whose research with colleague Christina Lewellen uncovered the tax problem earlier this year..

See more from Spectrum News 1.

This post was originally published in Poole Thought Leadership.