Similar Stories to Taxes On Cannabis, Gambling Are Unreliable, Study Says on Bing News

By Dale Denwalt Capitol Bureau ddenwalt@oklahoman.comAs Oklahoma prepares to collect taxes on marijuana, a new study from the Pew Charitable Trusts urges caution when relying too much on that money. The report released Thursday highlights the history of "sin taxes," or revenue collected from things like marijuana, gambling, tobacco and alcohol. "Sin taxes can provide short-term revenue boosts, but because of a combination of factors, they may also drive budget challenges in the long term," said Mary Murphy, project director for Pew's state fiscal policy division.Read more on NewsOK.com

BING NEWS:
  • How to claim gambling losses on your taxes
    Gambling losses are indeed tax-deductible, but only to the extent of your winnings. Find out more about reporting gambling losses on your tax return. • You can deduct your gambling losses, but ...
    08/9/2020 - 7:39 am | View Link
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