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Full-Text Articles in Law
Income Or Liability: How Casinos' Classification Of Outstanding Chips Determine Taxability, John Bulloch
Income Or Liability: How Casinos' Classification Of Outstanding Chips Determine Taxability, John Bulloch
UNLV Gaming Law Journal
No abstract provided.
Has The Time For Large Gaming Property Involved Reits Finally Arrived?: A Review Of The Potential For Reit Investment In Destination Gaming Resort Properties, Simon Johnson
UNLV Gaming Law Journal
Destination gaming resorts demand massive amounts of capital in order to fund their investment in real property, much of which comprises areas where they realize predominantly passive business, including the hotel tower. Consequently, they generate substantial income from passive business, such as fees for hotel occupancy, even as most of their income is attributable to active business, such as gaming and personal services. Because they blend separable passive and active real property, a REIT can theoretically acquire all or some of the real property, realizing income under an operator lease with a substantially unrelated gaming or hotel lessee. Alternatively, a …
Sparks Nugget. State Tax Exemption Of Food Used By Casinos For Comped Meals, Steve Johnson
Sparks Nugget. State Tax Exemption Of Food Used By Casinos For Comped Meals, Steve Johnson
UNLV Gaming Law Journal
In their search for new sources of revenue, states have legalized and sought to tax many kinds of gaming. Forty-eight of the fifty states of the United States permit one or more types of legal gaming. An important technique in casino and some other types of gaming is giving “comps” – complimentary goods or services – to player-customers. A frequent type of comp is free meals on the casino premises or elsewhere. Gaming establishments also often give free meals to their employees.
Comps have been controversial for federal income tax purposes. A recent Nevada case, Sparks Nugget, and related cases …