Poker: Legislators Consider Taxing High-Stakes Poker Games

Sponsored by:
Published on Friday, November 19, 2004 2:32:19 PM

Good card players know when to hold 'em, and when to fold 'em, and some New Hampshire lawmakers say it may be time to tax 'em.

Charitable organizations around the state are raising money through poker tournaments, and some legislators wonder whether the state should get a share.

"I'm not particularly fond of gambling, but if the state is going to allow gambling for charitable purposes and we're getting into high-stakes stuff, I think the state should get some revenue from it," said Rep. Neal Kurk, R-Weare, chairman of the House Finance Committee.

Kurk told the New Hampshire Sunday News that he is filing a proposal to impose some type of state tax on high-stakes poker profits. He said he is not suggesting taxing winners. He wants to look at the income promoters are getting for setting up the games.

Promoters run the tournaments for a share of the entrance fees, then pay winners and turn over a share to the charity sponsoring the event.

In the past 10 months, about 30 charities have filed applications with the Attorney General's Office of Charitable Trusts to hold poker tournaments in Derry, Keene, Pembroke, Laconia and a half-dozen other communities.

Promoters stage the tournaments under the state gaming law that allows a charity to sponsor up to 10 so-called Monte Carlo fund-raisers each year. The charities must report to the state the prizes awarded, expenses paid and revenue raised, but there is no state oversight of the games, which are conducted under a permit obtained from the local police.

Seacoast Online has the full story. Click here.

Poker News

 

Hot Right Now

Hot Right Now sponsored by:

Poker Tips

One of the more popular poker tips is that you should always study. The best way to improve your game is to study and practice your skills in low-stakes games.

More Tips

Poker.Net is an information website about online poker. Warning: You must make sure you meet all age and regulatory requirements before entering any casino or placing any wagers. There are hundreds of jurisdictions in the world with Internet access and hundreds of different games and gambling opportunities available on the Internet. YOU are responsible for determining if it is legal for YOU to play any particular games or place any particular wager.