Gov. Roy Cooper (D) wants the General Assembly to address an issue that could cause people betting on sports to owe taxes even if they ultimately lose.
The governor posted about it in response to an article by Nathan Goldman, a CPA and accounting professor at North Carolina State University, and Christina Lewellen, who is also an associate professor of accounting at NC State.
“When it comes to sports wagering, it’s not fair to have to pay taxes on your winnings without being able to deduct your losses. Legislators should fix this,” Cooper posted on X.
Goldman noted that the state does not allow people to deduct their losses from their gambling winnings for tax purposes, meaning people who break even or lose money could still owe taxes.
