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ITG FAQ #1 Answer-What wagering taxes are imposed on legal and illegal wagers?

 

Form 730, Tax on Wagering, is used to compute excise taxes for both legal and illegal wagers of certain types. For state authorized wagers placed with bookmakers and lottery operators there is a tax of 0.25% of the wager, if it is legal. If the wager is not legal, the tax is 2% of the wager.

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Page Last Reviewed or Updated: June 06, 2011