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NFLSportsHandle senior analyst Chris Altruda speaks with Bloomberg Tax reporter Angélica Serrano-Román about the approaches states have taken to taxing sports betting and those allowing operators to deduct so-called “free bets,” which some states are starting to limit.See the Story
NFL Kickoff Could Boost Tax Revenue in Betting States (Podcast)
Cryptocurrency · United StatesUS accounting standard-setters unanimously voted Wednesday to write new rules for crypto. Companies that hold or invest in cryptocurrency will be required to report their holdings at fair value. The rules will go into effect as soon as 2025, but companies will have the option to apply them early.See the Story
Long-Awaited Bitcoin Accounting Rules to Capture Rises, Dips (1)
Albany, New York · AlbanyNew York lawmakers plan to push a bill limiting tax breaks that threaten school funding. The legislation would prohibit industrial development agencies from waiving taxes that would otherwise go toward funding school districts. The exemptions in recent years have reached nearly $2 billion. New York City schools lost $1.3 billion to the city's tax abatement programs.See the Story
New York Lawmakers Push for New Limits on School Tax Breaks
TaxesThe high court agreed in June to hear Charles and Kathleen Moore's case over whether the government had the authority to tax them as shareholders of an Indian farming equipment company. Oral arguments in the case have not yet been scheduled. The couple are only suing for a refund of about $15,000, but the government has estimated that the tax ...See the Story
Supreme Court Urged to Protect ‘Essential Restraint’ on Taxation
New York City · New YorkNew York City will have to double the number of legal cannabis dispensaries it opens a year to hit budget projections of $950 million in annual taxable sales by 2027. At the current pace of just 12 retail locations opening annually, it will take the city until 2032 to reach that sales figure. The city is on pace to collect $4 million in cannabis taxes in fiscal 2024.See the Story
NYC Pot-Tax Revenue Runs Below Forecasts as Store Openings Stall
Business · ChinaEvergrande was once China’s largest property developer by sales, but after borrowing heavily, the company collapsed in 2021, sparking China’s worst property market crisis on record.
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China’s struggling property giant Evergrande files for bankruptcy protection in US
57% Center coverage: 95 sources
Jair Bolsonaro · BrazilA Brazilian hacker told a congressional inquiry on Thursday that former President Jair Bolsonaro asked him to tamper with an electronic voting machine to show Brazil's electoral system was vulnerable to fraud during last year's presidential campaign.See the Story
Brazilian hacker says Bolsonaro asked him to tamper with voting machine
47% Left coverage: 30 sources
US Economy · United StatesCoinbase said it's received regulatory approval to bring federally regulated crypto futures trading to eligible customers in the U.S., sending shares sharply higher before the opening bell Wednesday.
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Coinbase gets approval to allow crypto futures trading in US
52% Center coverage: 20 sources
