To
receive our free monthly network newsletter enter your
email address below:
ADVERTISING
ADVERTISE
ON THIS SITE!
With over 50,000 qualified readers every month our web-sites
offer a number of cost effective, targeted advertising, sponsorship
and marketing opportunities:
Display advertising - from 'skyscrapers'
to 'buttons'
Content/article submission and sponsorship
Opt-in email marketing
On-line Services Directory listings
Click here to learn more or contact
Peter Wiggins on +44 (0)1424 813852 or email him at peter@lowtax.net.
New On The Lowtax Network Today
This feed is published daily with selected new or updated
content from across the Lowtax Network. For a list of Lowtax Network
sites, many of which feature daily news, see
below.
Providing essential tax news and information
for globally mobile artists, contractors, entrepreneurs, professionals,
small businesses, sportspersons and entertainers.
Lowtax Portal:
'Low-tax' business and investment in the top 50 jurisdictions covered in
exceptional detail.
Tax News: Global
tax news, continuously updated through the day.
Investors Offshore:
The independent offshore and alternative investment guide for expatriates
and the globally aware investor.
Law & Tax
News: Daily news and background data on tax and legal developments
for international business.
Offshore-e-com:
A topical guide to offshore e-commerce focused on tax and regulation.
Lowtax Library:
One of the web's largest and most authoritative business and investment
information sources.
US Tax Network:
The resource for free online US taxation information, covering: corporate
tax, individual tax, international tax, expatriates, sales and e-commerce
tax, investment tax.
NEW! Personal
Business Tax Guide: Providing essential tax news and information
on business for contractors, entrepreneurs, professionals, small businesses,
artists, sportspersons and entertainers.
Intrastate Online Gambling Gets Hearing In California,
by Mike Godfrey, Tax-News.com, Washington
Friday, December 18, 2009
A consortium including the Morongo Band of Mission Indians and the Commerce Casino want to set up and operate poker websites in California and the chair of the Governmental Organization Committee, state Sen. Roderick Wright (D-Inglewood, Los Angeles County), said that he wants hearings to take place in February 2010.
California Internet poker games could yield a potential USD1bn annually. Using the same 25% tax rate as that for slot machines at Indian casinos, that would mean an extra USD250m in tax revenue.
Although federal and state laws do not expressly ban online games, restrictions are placed on payment systems servicing the websites; this is not enough to stop punters from using the 1,000+ existing Internet poker sites based abroad, unregulated and untaxed. California would be exempt from federal restrictions if the businesses were operated entirely within state lines and served only Californians.
Patrick Dorinson, a spokesman for the Morongo Band of Mission Indians, estimates that one million Californians are already playing poker offshore. He told the LA Times that the state should regulate such games in California to ensure their legitimacy and protect players' privacy.
Senator Wright said that he is expecting to receive up to 400 requests for permission to operate Internet card games, among whom would be the 67 Indian tribes who already operate state gambling licenses, California's 89 non-Indian card clubs, and charitable groups.
The tribes enjoy a gaming monopoly, and if the market were opened up to competition in this way, there might be a case for renegotiation of the tax compacts. The Californian press has expressed doubts about the overall scheme on the grounds that the social costs are too high.
The Lowtax Library
hosts the web's best-known US and international tax news service
costing just $20 per month. Alongside topical, daily news, you can receive
weekly newswires on
a wide range of subjects.
Our 16 up-to-date intelligence
reports cover international tax-planning in depth, including
banking secrecy, offshore funds, e-commerce and offshore gaming.
IMPORTANT NOTICE:
THE LOWTAX NETWORK has taken reasonable care in sourcing and presenting
the information contained on this site, but accepts no responsibility
for any financial or other loss or damage that may result from its use.
In particular, users of the site are advised to take appropriate professional
advice before committing themselves to involvement in offshore jurisdictions,
offshore trusts or offshore investments. All materials on this site copyright
The Lowtax Network 1999 - 2009. Contact
us for further information.