How much Tax Revenue if it was legal?

[oober]

Like I said, just to throw out numbers, but also I don't think they would tax the rake when I think about it, but it would be as a 2nd rake.... I don't think it would be 7%, much lower because of the fact a lot of times money is just switching hands... I think this is the way they would go...

[joeker]

What are you guys talking about taxing the rake?

The poker sites would pay taxes to the US government just like any other corporation does, whether that be income, payroll or whatever.

[rokstedy]

[ QUOTE ]
What are you guys talking about taxing the rake?

The poker sites would pay taxes to the US government just like any other corporation does, whether that be income, payroll or whatever.

[/ QUOTE ]

corporations don't "pay" payroll taxes. they withhold the taxes from the employees, then pay that amount to the feds. the rake is the basically the only form of income a site has. but you are right in the sense that it would be taxes on the rake (income) less operating expenses.

[ekdikeo]

IF everyone goes through a U.S. operated payment processor, then that will quite easily become a tool of law enforcement - example, they will search it to find people that they want to find.

The government doesn't operate services like that. That's fascism. We're not quite there yet, thankfully.

As I said, casino tax in Michigan = up to 18% of gross income. They don't give a crap what your operating expenses are. You pay a $10.5M deposit to the state to be able to run your casino, then you give them 18% of your gross income every year.