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Casinos Seek Refunds

Casinos in Las Vegas are in a state of quandary right now waiting to find out whether the free meals they offer both employees and patrons are subject to taxation. The Nevada courts previously ruled that the free meals are tax-exempt for the casinos, but now the Nevada Attorney General’s Office is looking at millions on dollars in refunds if the ruling sticks. For that reason to AG Office is now appealing the case to the Nevada Supreme Court in the hopes that the Supreme Court will allow the state to tax comp meals as has been the case in the past years.

This is fortunately an area that online casinos do not have to worry – and in the U.S.’s current legislative environment the U.S. internet gambling industry does not have to pay any taxes to the government because the activity is technically illegal. That is a major issue of concern for land casinos – they do pay taxes and in the current pre-recessive economy, it is getting more and more difficult for the land casinos and resorts to attract gamblers.

The entire U.S. economy is slowing, and the land and online casinos are looking for a way to cut back costs – tax exemption on employee and patron meals will save the casinos tens of millions of dollars yearly. But on the other side of the coin, the state government of Nevada is already operating on budget shortfall and as such the AG Office is concerned that the new tax exemption ruling will put the state budget even further in the hole.