casinos earn a lot of money, but where do they all go? do they all go to the casinos only? or will part of the money be given to governments? and if so, what would the gov't use the money for?
2006-12-01 02:57:52 · 3 answers · asked by Anonymous in Games & Recreation ➔ Gambling
we have casinos here. once a month the local newspaper prints a list of taxes collected from them and where the money goes. the $$ are incredibly high. 10 times what the normal used to be. it goes to the schools, streets, gas, water, electricity, etc. it's turning a small town into a formidable city.
2006-12-01 03:10:23 · answer #1 · answered by Anonymous · 0⤊ 0⤋
Most of the casinos are owned/operated by corporations. After expenses are paid, profits go to the shareholders. Like any other income-earning entity, they pay taxes on their profits as well.
Casinos don't "give" money to the government any more than cigarette companies do.
2006-12-01 05:54:45 · answer #2 · answered by Andrew H 4 · 0⤊ 0⤋
They are taxed, just like any other business. Unless the tax revenue from the casinos are earmarked for certain programs (ie. schools, roads, etc.), they go into the general revenue fund for the state. Whether any percentages of the tax revenue is earmarked or not depends on the state it's in.
2006-12-01 20:38:52 · answer #3 · answered by rusty shackleford 3 · 0⤊ 0⤋