New NC budget raises sports-betting taxes, redirects revenue to public universities, and creates a new tax on prediction markets.
NC lawmakers reached a budget deal over the weekend, with votes expected this week ahead of the July 1 fiscal year.
Budget talks have slowed at the General Assembly, but Berger and Hall say they still expect a deal by the end of the month.
Intensive community policing could be a solution to NC violent crime, according to a new report from the John Locke Foundation.
Under current North Carolina law, individuals who engage in legal sports betting or other forms of gambling are taxed on their gross winnings without the ability to deduct losses. This differs from federal tax policy, which permits deductions for gambling losses up to the amount of winnings.
Online sports betting proved to be big business the first week it became legal in North Carolina. According to a Sports Betting Report released Wednesday by the North Carolina State Lottery Commission, over $198 million was wagered by North Carolinians, while payouts amounted to $141.5 million.
After the success of their efforts to legalize sports betting, some leaders in the General Assembly are working to open up four more casinos and lots of video gambling terminals. These Senate and House leaders are proposing casinos to be developed in Anson, Nash, and Rockingham counties. The Lumbee Tribe would also have the option to...
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