How Much Do You Pocket If You Win Big at the Casino? Nathan Goldman Explains
The News & Observer spoke with Poole College of Management’s Nathan Goldman, associate professor of accounting, to learn how the government taxes casino winnings — and how they need to be reported to the Internal Revenue Service.
“If you win more than $5,000, the government knows you made that money, and the casino will automatically hand you 76% of it. For an even example, if you win a $10,000 jackpot, you’re going home with $7,600,” Goldman says.
Read the full breakdown at N&O.com