If you are a fan of online casinos and internet gaming, you may not be happy to hear about what has been going on in Lisbon, Ohio. Apparently the Lisbon Village Council has put in some new information in their tax laws so that they would be in compliance with the current Ohio law. One of the new provisions in the tax code, according the the town solicitor, is set up to let any funds won from online casino gambling will be taxed at a rate of 1.5 percent. That is the exact same quantity of money that other forms of income have traditionally been taxed at within the state.

Back in the day, the issue of online casinos and the gambling industry wasn’t even a factor so the town officials decided that it was high time this situation was addressed. The previous time the tax code was changed, this whole circumstance wasn’t even conceived of yet, but since it has become more and more in the forefront of business and regulations, many people felt that it was important to update the tax code to reflect the changes and shifts that the casino industry has brought.

WIth people here and there making considerable sums of money in their wins at casinos, it is not yet safe to say exactly how much money they are set to gain by taxing this particular form of income, but just having everything in regard to the tax code for Lisbon Village up to date makes everyone rest just a little bit easier.

Tags: lisbon, ohio, online casino laws, tax codes

This entry was posted on Thursday, February 12th, 2009 at 4:37 am and is filed under Online Casino. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.