| | |  | Last Updated: Tuesday, June 19, 2007 |  | | | Gambling Could Bring in Revenue Through Taxes
- Sunday, 23 Jul 2006
The West Virginia state system of taxation will be discussed this fall by legislators of the state. Governor Joe Manchin has already insisted that taxation be the only item on the agenda when he calls lawmakers to a special session. Many officials at state racetracks are hoping that Manchin will include table gambling on the agenda of this special session. This might not happen, however, until the next regular session, which is to be held in January of next year. But this might be the most appropriate time to discuss table gambling – especially when it can apply to state taxation.
Although gambling can be an uncertain source of great revenue to a state, it does bring hundreds of millions of dollars a year into state coffers. Any consideration of the state’s taxation system will have to include gambling. Hopefully, if this subject will arise for discussion in this special session, it will be carefully considered by the time the regular session rolls around.
Because gambling can be so uncertain when it comes to generating revenue for a state, it is the legislation’s responsibility to plan for this potential loss of income at the current time. How could this form of revenue decline? Competition from other states and from gambling online could cause West Virginia to see a decrease in revenue at some point in the not-too-distant future. Either way, table gambling should be discussed during this session in order for the state government to get a better grasp on what could be a potentially significant problem in the future.
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