|
Baxter V. United States
'' Baxter v. United States'', 633 F. Supp. 912 (D. Nev. 1986), was a federal tax refund case, decided in 1986, regarding the U.S. federal income tax treatment of the gambling income of a professional gambler. Because of this case, gambling winnings in the United States can in certain cases be treated as business income for federal income tax purposes. This means that in some cases expenses and losses can be deducted from gambling winnings in arriving at the net earnings from self-employment, and that winnings can be placed into retirement funds. History William E. (Billy) Baxter, Jr., had been a gambler since the age of fourteen. For the tax years in question (years 1978 through 1981), both Baxter and the government agreed that Baxter was engaged in the activity of gambling as a "professional gambler." The parties agreed that Baxter devoted a substantial amount of time to his gambling activity, which was poker. Baxter was a pioneer in professional poker who later went on to win ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United States District Court For The District Of Nevada
United may refer to: Places * United, Pennsylvania, an unincorporated community * United, West Virginia, an unincorporated community Arts and entertainment Films * United (2003 film), ''United'' (2003 film), a Norwegian film * United (2011 film), ''United'' (2011 film), a BBC Two film Literature * United! (novel), ''United!'' (novel), a 1973 children's novel by Michael Hardcastle Music * United (band), Japanese thrash metal band formed in 1981 Albums * United (Commodores album), ''United'' (Commodores album), 1986 * United (Dream Evil album), ''United'' (Dream Evil album), 2006 * United (Marvin Gaye and Tammi Terrell album), ''United'' (Marvin Gaye and Tammi Terrell album), 1967 * United (Marian Gold album), ''United'' (Marian Gold album), 1996 * United (Phoenix album), ''United'' (Phoenix album), 2000 * United (Woody Shaw album), ''United'' (Woody Shaw album), 1981 Songs * United (Judas Priest song), "United" (Judas Priest song), 1980 * United (Prince Ital Joe and Marky Mark ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Certiorari
In law, ''certiorari'' is a court process to seek judicial review of a decision of a lower court or government agency. ''Certiorari'' comes from the name of an English prerogative writ, issued by a superior court to direct that the record of the lower court be sent to the superior court for review. The term is Latin for "to be made certain", and comes from the opening line of such writs, which traditionally began with the Latin words "''Certiorari volumus''..." ("We wish to be made certain..."). Derived from the English common law, ''certiorari'' is prevalent in countries utilising, or influenced by, the common law''.'' It has evolved in the legal system of each nation, as court decisions and statutory amendments are made. In modern law, ''certiorari'' is recognized in many jurisdictions, including England and Wales (now called a "quashing order"), Canada, India, Ireland, the Philippines and the United States. With the expansion of administrative law in the 19th and 20th cen ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United States Taxation And Revenue Case Law
United may refer to: Places * United, Pennsylvania, an unincorporated community * United, West Virginia, an unincorporated community Arts and entertainment Films * ''United'' (2003 film), a Norwegian film * ''United'' (2011 film), a BBC Two film Literature * ''United!'' (novel), a 1973 children's novel by Michael Hardcastle Music * United (band), Japanese thrash metal band formed in 1981 Albums * ''United'' (Commodores album), 1986 * ''United'' (Dream Evil album), 2006 * ''United'' (Marvin Gaye and Tammi Terrell album), 1967 * ''United'' (Marian Gold album), 1996 * ''United'' (Phoenix album), 2000 * ''United'' (Woody Shaw album), 1981 Songs * "United" (Judas Priest song), 1980 * "United" (Prince Ital Joe and Marky Mark song), 1994 * "United" (Robbie Williams song), 2000 * "United", a song by Danish duo Nik & Jay featuring Lisa Rowe Television * ''United'' (TV series), a 1990 BBC Two documentary series * ''United!'', a soap opera that aired on BBC One from 1965-19 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
1986 In United States Case Law
The year 1986 was designated as the International Year of Peace by the United Nations. Events January * January 1 **Aruba gains increased autonomy from the Netherlands by separating from the Netherlands Antilles. **Spain and Portugal enter the European Community, which becomes the European Union in 1993. *January 11 – The Gateway Bridge in Brisbane, Australia, at this time the world's longest prestressed concrete free-cantilever bridge, is opened. *January 13– 24 – South Yemen Civil War. *January 20 – The United Kingdom and France announce plans to construct the Channel Tunnel. *January 24 – The Voyager 2 space probe makes its first encounter with Uranus. *January 25 – Yoweri Museveni's National Resistance Army Rebel group takes over Uganda after leading a five-year guerrilla war in which up to half a million people are believed to have been killed. They will later use January 26 as the official date to avoid a coincidence of dates with Dictator Idi Amin's 1971 c ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Gambling In The United States
In the United States, gambling is legally restricted. In 2008, gambling activities generated gross revenues (the difference between the total amounts wagered minus the funds or "winnings" returned to the players) of $92.27 billion in the United States. The American Gaming Association, an industry trade group, states that gaming in the U.S. is a $240 billion industry, employing 1.7 million people in 40 states. In 2016, gaming taxes contributed $8.85 billion in state and local tax revenues. Critics of gambling argue it leads to increased political corruption, compulsive gambling, and higher crime rates. Others argue that gambling is a type of regressive tax on the individuals in local economies where gambling venues are located. History Authorized types Many levels of government have authorized multiple forms of gambling in an effort to raise money for needed services without raising direct taxes. These include everything from bingo games in church basements, to multimillion-do ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Income Tax And Gambling Losses
Rules concerning income tax and gambling vary internationally. United States In the United States, gambling wins are taxable. The Internal Revenue Code contains a specific provision regulating income-tax deductions of gambling losses. Under Section 165(d) of the Internal Revenue Code, losses from “wagering transactions” may be deducted to the extent of gains from gambling activities. Essentially, in order to qualify for a deduction of losses from wagering, the taxpayer can only deduct ''up to'' the amount of gains accrued from wagering. In '' Commissioner v. Groetzinger'', the Supreme Court Justice Blackmun alludes to Section 165(d) which was a legislative attempt to close the door on suspected abuse of gambling loss deductions. Wagering Transaction The Internal Revenue Service has ruled that a “wagering transaction” consists of three elements. First, the transaction must involve a prize. Second, the element of chance must be present. Finally, the taxpayer must give so ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
England And Wales
England and Wales () is one of the three legal jurisdictions of the United Kingdom. It covers the constituent countries England and Wales and was formed by the Laws in Wales Acts 1535 and 1542. The substantive law of the jurisdiction is English law. The devolved Senedd (Welsh Parliament; cy, Senedd Cymru) – previously named the National Assembly of Wales – was created in 1999 by the Parliament of the United Kingdom under the Government of Wales Act 1998 and provides a degree of self-government in Wales. The powers of the Parliament were expanded by the Government of Wales Act 2006, which allows it to pass its own laws, and the Act also formally separated the Welsh Government from the Senedd. There is no equivalent body for England, which is directly governed by the parliament and government of the United Kingdom. History of jurisdiction During the Roman occupation of Britain, the area of present-day England and Wales was administered as a single unit, except f ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Gutshot Poker Club
The Gutshot Poker Club (also known as The Gutshot Poker Collective or simply The Gutshot) was a poker club, bar, restaurant and internet cafe located on Clerkenwell Road, London, England. The club opened in March 2004 and closed in 2007. It was founded by Barry Martin and Derek Kelly. The club ran poker ring games, and tournaments one to three times per day, and hosted four festivals of poker per annum. Amongst the successes achieved by members of the club are: * Tiffany Williamson, 2005 World Series of Poker (WSOP) main event, 15th place ($400,000) * Roland De Wolfe, World Poker Tour (WPT) fourth season Grand Prix de Paris winner (€479,680;) WPT fourth season championship, 3rd place ($1,025,505); European Poker Tour (EPT) third season Ireland winner (€554,300); 2007 Irish Poker Open, 2nd place (€325,000) * Praz Bansi, 2006 World Series of Poker bracelet winner ($230,209) In addition to many English poker players, former WSOP main event champions Phil Hellmuth Jr, Chris ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Denmark
) , song = ( en, "King Christian stood by the lofty mast") , song_type = National and royal anthem , image_map = EU-Denmark.svg , map_caption = , subdivision_type = Sovereign state , subdivision_name = Danish Realm, Kingdom of Denmark , established_title = History of Denmark#Middle ages, Consolidation , established_date = 8th century , established_title2 = Christianization , established_date2 = 965 , established_title3 = , established_date3 = 5 June 1849 , established_title4 = Faroese home rule , established_date4 = 24 March 1948 , established_title5 = European Economic Community, EEC 1973 enlargement of the European Communities, accession , established_date5 = 1 January 1973 , established_title6 = Greenlandic home rule , established_date6 = 1 May 1979 , official_languages = Danish language, Danish , languages_type = Regional languages , languages_sub = yes , languages = German language, GermanGerman is recognised as a protected minority language in t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Russia
Russia (, , ), or the Russian Federation, is a List of transcontinental countries, transcontinental country spanning Eastern Europe and North Asia, Northern Asia. It is the List of countries and dependencies by area, largest country in the world, with its internationally recognised territory covering , and encompassing one-eighth of Earth's inhabitable landmass. Russia extends across Time in Russia, eleven time zones and shares Borders of Russia, land boundaries with fourteen countries, more than List of countries and territories by land borders, any other country but China. It is the List of countries and dependencies by population, world's ninth-most populous country and List of European countries by population, Europe's most populous country, with a population of 146 million people. The country's capital and List of cities and towns in Russia by population, largest city is Moscow, the List of European cities by population within city limits, largest city entirely within E ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Game Of Skill
A game of skill or game of wits is a game where the outcome is determined mainly by mental or physical skill, rather than chance. Alternatively, a game of chance is one where its outcome is strongly influenced by some randomizing device, such as dice, spinning tops, playing cards, roulette wheels, or numbered balls drawn from a container. While a game of chance may have some skill element to it, chance generally plays a greater role in determining its outcome. A game of skill may also have elements of chance, but skill plays a greater role in determining its outcome. Some commonly played games of skill include: collectible card games, contract bridge, backgammon and mahjong. However, most games of skill also involve a degree of chance, due to natural aspects of the environment, a randomizing device (such as dice, playing cards or a coin flip), or guessing due to incomplete information. Some games where skill is a component alongside gambling and strategy such as poker may invo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Unlawful Internet Gambling Enforcement Act
The Unlawful Internet Gambling Enforcement Act of 2006 (UIGEA) is United States legislation regulating online gambling. It was added as Title VIII to the SAFE Port Act (found at ) which otherwise regulated port security. The UIGEA prohibits gambling businesses from "knowingly accepting payments in connection with the participation of another person in a bet or wager that involves the use of the Internet and that is unlawful under any federal or state law." The act specifically excludes fantasy sports that meet certain requirements, skill games, and legal intrastate and intertribal gaming. The law does not expressly mention state lotteries, nor does it clarify whether interstate wagering on horse racing is legal. Background on online gambling The United States Court of Appeals for the Fifth Circuit ruled in November 2002 that the Federal Wire Act prohibits electronic transmission of information for sports betting across telecommunications lines but affirmed a lower court ruling ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
