Just two weeks after Donald Trump announced that he was in favor of legal US online gambling because the government was losing out on tax revenue, an appeals court has rejected his attempt to recover some $2.7M in taxes overpaid by the three Atlantic City casinos that bear Der Donald’s name. Despite the state having had no right to collect the taxes in question, the court ruled that the statute of limitations had run out before Trump’s people noticed the error, so tough titty.
Let this serve as a cautionary tale for all those publicly traded online gambling companies itching to let the US gov’t tax their US-facing earnings – after you shake hands on a deal, count your fingers. Read more.
