{"id":8761,"date":"2025-03-06T05:50:34","date_gmt":"2025-03-06T05:50:34","guid":{"rendered":"https:\/\/slategray-wallaby-310340.hostingersite.com\/index.php\/2025\/03\/06\/north-carolina-house-advances-bill-to-allow-gambling-loss-deductions\/"},"modified":"2025-03-06T05:50:34","modified_gmt":"2025-03-06T05:50:34","slug":"north-carolina-house-advances-bill-to-allow-gambling-loss-deductions","status":"publish","type":"post","link":"https:\/\/casino-online-best.com\/index.php\/2025\/03\/06\/north-carolina-house-advances-bill-to-allow-gambling-loss-deductions\/","title":{"rendered":"North Carolina House Advances Bill to Allow Gambling Loss Deductions"},"content":{"rendered":"<div>\n<p>House Bill 14, which would permit gamblers to deduct their losses from state income taxes, is now making headway in the North Carolina House. Despite criticism, the bill was recently passed by a House committee and will now be reviewed further by the House Finance Committee.<\/p>\n<p>The burgeoning gaming business in North Carolina is the driving force behind this legislation. Over $6 billion has been wagered since internet sports betting was legalized in March 2024. However, due to present state tax legislation, gamblers are not allowed to deduct losses and must pay taxes on all earnings.<\/p>\n<p data-start=\"834\" data-end=\"1134\">While federal tax law allows deductions for losses up to the amount of winnings, North Carolina does not offer the same benefit. House Bill 14 seeks to change that by allowing deductions for gambling losses\u2014but only up to the amount won. This ensures that no one claims a net loss as a tax benefit.<\/p>\n<h2 data-start=\"1136\" data-end=\"1200\"><strong data-start=\"1140\" data-end=\"1198\">Supporters Emphasize Fairness, Opponents Warn of Risks<\/strong><\/h2>\n<p>The bill\u2019s sponsor, Rep. Keith Kidwell, a well-known opponent of gambling, emphasized that the goal of the proposal is tax equity rather than gambling promotion. He maintained that taxing gains from gambling without permitting loss deductions results in an unjust financial burden.<\/p>\n<p>The legislation is also supported by Representatives Erin Par\u00e9 and Bryan Cohn, who claim that bringing state tax laws into compliance with federal requirements would make it easier for residents of North Carolina to file their taxes. According to Rep. Cohn, the bill\u2019s argument for tax equality is strengthened by conformity with federal standards.<\/p>\n<div class=\"main-org-3-item-ins box-100 relative mb-4\">\n<div class=\"space-org-3-items box-100 relative\">\n<div class=\"box-100 space-org-3-item relative border-tb mt-1 \">\n<div class=\"space-org-3-item-ins box-100 relative\">\n<div class=\"space-org-3-item-logo box-25 relative\">\n<div class=\"space-org-3-item-logo-ins box-100 text-center relative\">\n<div class=\"space-org-logo-title-box box-100 text-left relative\">\n<div class=\"space-org-3-item-logo-box box-25 relative img-radius\">\n\t\t<a href=\"https:\/\/igaming.org\/site\/mirax-casino\/\" title=\"Visit Site\" target=\"_blank\" rel=\"nofollow\"><br \/>\n\t\t<amp-img alt=\"Mirax Casino\" src=\"https:\/\/igaming.org\/wp-content\/uploads\/2023\/01\/Mirax-Casino.png.webp\" width=\"50\" height=\"50\" layout=\"fixed\"><br \/>\n\t\t<\/amp-img><br \/>\n\t\t<\/a>\n\t\t<\/div>\n<div class=\"space-org-3-item-logo-title box-25 relative py-10\">\n\t\t<a href=\"https:\/\/igaming.org\/site\/mirax-casino\/\" title=\"Mirax Casino\" target=\"_blank\" rel=\"nofollow\">Mirax Casino<\/a>\n\t\t<\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div class=\"space-org-3-item-terms box-25 relative\">\n<div class=\"space-org-3-item-terms-ins box-100 text-center relative\">\n\t\t<strong>350% or 5BTC + <strong>150 Spins!<\/strong><\/strong><br \/>\n\t\t<\/p>\n<div class=\"pt-1\">New players only. Exclusive Welcome Bonus of 350% + 150 Free Spins\n<\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div class=\"space-org-3-item-rating box-25 relative mb-10\">\n<div class=\"rating-box text-center box-100  relative\">\n<div class=\"space-org-3-item-rating-box relative\">\n<div class=\"stars\"><span class=\"star on\"><\/span><span class=\"star on\"><\/span><span class=\"star on\"><\/span><span class=\"star on\"><\/span><span class=\"star on\"><\/span><\/div>\n<div class=\"space-org-rating-notice relative\">Casino<\/div>\n<\/p><\/div>\n<p>\t\n\t\t\t\t <\/div>\n<\/p><\/div>\n<div class=\"space-org-3-item-button box-25 relative\">\n<div class=\"space-org-3-item-button-ins box-100 text-center relative\">\n\t\t\t\t<a href=\"https:\/\/igaming.org\/site\/mirax-casino\/\" title=\"Visit Site\" target=\"_blank\" rel=\"nofollow\">\tVisit Site<\/a>\n\t\t\t<\/div>\n<\/p><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<p data-start=\"1765\" data-end=\"2113\">However, opposition remains strong. Reverend Mark Creech, a lobbyist for the conservative group Return America, criticized the bill as a potential \u201cgift to the gambling industry.\u201d He expressed concerns that the deductions could encourage more gambling, particularly among problem gamblers, ultimately benefiting operators at the public\u2019s expense.<\/p>\n<p data-start=\"2168\" data-end=\"2548\">A major concern surrounding the bill is its potential impact on state revenue. Lawmakers have yet to receive official projections on how much tax revenue North Carolina could lose if the measure is enacted. Given the billions wagered since online sports betting launched, critics argue that the financial impact could be significant, potentially affecting state-funded programs.<\/p>\n<p data-start=\"2550\" data-end=\"2827\" data-is-last-node=\"\" data-is-only-node=\"\">House Bill 14 has already passed the House Commerce and Economic Development Committee. It now awaits a hearing in the House Finance Committee before potentially advancing to a full House vote. If approved, the bill will then move to the State Senate for further consideration.<\/p>\n<p>The post <a href=\"https:\/\/igaming.org\/casino-news\/north-carolina-house-advances-bill-to-allow-gambling-loss-deductions\/\">North Carolina House Advances Bill to Allow Gambling Loss Deductions<\/a> appeared first on <a href=\"https:\/\/igaming.org\/\">iGaming.org<\/a>.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>House Bill 14, which would permit gamblers to deduct their losses from state income taxes, is now making headway in the North Carolina House. Despite criticism, the bill was recently passed by a House committee and will now be reviewed further by the House Finance Committee. The burgeoning gaming business in North Carolina is the [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"footnotes":""},"categories":[],"tags":[],"class_list":["post-8761","post","type-post","status-publish","format-standard","hentry"],"blocksy_meta":{"styles_descriptor":{"styles":{"desktop":"","tablet":"","mobile":""},"google_fonts":[],"version":6}},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/posts\/8761","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/comments?post=8761"}],"version-history":[{"count":0,"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/posts\/8761\/revisions"}],"wp:attachment":[{"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/media?parent=8761"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/categories?post=8761"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/casino-online-best.com\/index.php\/wp-json\/wp\/v2\/tags?post=8761"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}