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This new amendment to the One Big Beautiful Bill Act would end professional gambling in the US and hurt casual gamblers, too. Any other gambling winnings subject to federal income tax withholding. Generally, report all gambling winnings on the “Other income” line of Horse racing avoids betting duty tax hike in Budget

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'Mad Money' host Jim Cramer talks recent taxation changes coming out for gambling income and how they could hurt gambling The North Carolina tax rate is set to be 4.5% for 2024 and 4.25% for 2025. Check out the article below for more information about this update.