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Originally Posted by infrontby1
It looks like the bill proposed early in the year has been finalized and will go into effect comes Jan. 1st.
With the 5% toll on all wagers made, there's no way the ADWs that have been paying us generous rebates can continue to do so.
Now what?
http://www.drf.com/news/new-york-add...tate-companies |
I think rather than go through the expense of collecting the tax from their bettors in NY, the ADW's will simply refuse business from NY based accounts.
This is the same thing as a state demanding merchants in another state collect sales taxes from a resident of that state.
The Massachusetts government tried this. That state's government determined that MA residents were crossing into Maine and NH where taxes on liquor by the bottle are much lower. MA demanded merchants of those states identify MA residents and tax them at the MA rate, then collect the tax and pay it the MA government..ME and NH told MA to go jump into Boston Harbor.
Is it conceivable that ADW's refuse to collect the tax?
I view this as another desperate money hungry over spending state committing a money grab.
Like any other 'sin tax', this sort of taxation usually results in loss of revenue.
