Gaming Attorney Kate Lowenhar-Fisher Comments on "Four Big Issues Facing the DFS Industry" for ESPN
Gaming Attorney Kate Lowenhar-Fisher recently spoke to ESPN for the article “Four big issues facing the DFS industry in 2016” (2/11/16). In the article, ESPN explores the four big issues surrounding the daily fantasy sports (DFS) industry in 2016 as a mix of state-level legislative and legal developments are progressing on a weekly basis.
One of the issues impacting the DFS industry this year is whether or not the federal government will get involved through Congressional hearings. One topic that may come up in a Congressional hearing is the issue of taxes. According to some, the skill versus chance distinction that is so important in state-level disputes may be irrelevant for federal excise tax purposes. “The way the tax code is written, all wagers on sporting events and contests (including skill contests) are included,” commented Ms. Lowenhar-Fisher. “The tax seems to apply to a category of activities that may be broader than ‘gambling.’”
To read the complete article, please click here.
One of the issues impacting the DFS industry this year is whether or not the federal government will get involved through Congressional hearings. One topic that may come up in a Congressional hearing is the issue of taxes. According to some, the skill versus chance distinction that is so important in state-level disputes may be irrelevant for federal excise tax purposes. “The way the tax code is written, all wagers on sporting events and contests (including skill contests) are included,” commented Ms. Lowenhar-Fisher. “The tax seems to apply to a category of activities that may be broader than ‘gambling.’”
To read the complete article, please click here.
