US gambling taxation proposal to be heard 19th May

House Ways and Means Committee to discuss tax proposals related to legalising the internet gambling industry in the United States.

The House Ways and Means Committee has confirmed earlier unofficial reports (see previous InfoPowa bulletins) that it is to hold a hearing on May 19 to discuss the tax benefits of legalising and regulating online gambling in the United States.

Representative Jim McDermott’s HR 4976 internet gambling taxation proposal, a companion bill to Congressman Barney Frank’s HR 2267 bill to legalise online gambling, will be at the centre of the discussion and has attracted three co-sponsors.

The hearing will be chaired by Ways and Means Committee chairman Sander Levin, and interested parties have been invited to attend on submission of a written statement.

“The Committee will discuss the current tax laws and reporting requirements applicable to wagering in the United States…..and other proposals in the Committee’s jurisdiction related to legislation pending in the Congress to license and regulate internet gambling activities,” the official announcement of the hearing reads.

The Poker Players Alliance has indictated that it will be making a submission.

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