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Tax Break For Atlantic City Casinos
Wednesday December 03,2014 : NEW JERSEY TO OFFER TAX BREAK TO STRUGGLING ATLANTIC CITY CASINOS
Legislative proposal introduced to allow a flat tax fee for two years.
It appears that the pleas for tax breaks by struggling Atlantic City land casinos...and especially the Trump Taj Mahal....have been sympathetically received by New Jersey politicians.
On Monday Senate President Stephen Sweeney and Sen. Jim Whelan introduced a proposal that would allow casinos to collectively make fixed payments of $150 million in lieu of taxes for two years...an effective reduction in the taxes the operators are currently paying.
The politicians justify the deal by suggesting that it will allow more efficient budget planning by the state and the city, and do away with expensive and time-consuming taxation appeal litigation.
The management at the Taj Trump Mahal, which has been particularly insistent on the need for tax breaks in order to stay open remained non-committal on the tax proposal, adopting a wait-and-see posture.
The Taj remains the subject of dispute between principal creditor Carl Icahn and the unions, a situation which has led to threats to shut down the casino this (December) month if the unions do not pull back from their demands regarding health and retirement benefits for their members.
Gambling News :
US$30M DUBAI WORLD CUP -
Racecourse Media Group and Meydan to showcase world’s richest raceday to more than 150 territories The Dubai World Cup is the first horse race to be broadcast live on airlines and cruise lines
NHL Odds: Forsberg Faces Elliott in Nashville -
The last time the Nashville Predators played against the Calgary Flames, Calgary had a 4-1 lead five minutes into the second period. Nashville responded with four back-to-back goals, including a hat trick from centreman Filip Forsberg. Both teams went into overtime with five goals, and Calgary defenseman Mark Giordano (12 goals, 22 assists) scored the winning goal.
NBA Odds: Hawks, Wiz in Southeast Showdown -
The Washington Wizards (42-27 SU, 36-32-1 ATS) can pretty much secure the Southeast Division title with a win Wednesday night over the Atlanta Hawks (37-32 SU, 31-38 ATS). Tip-off is at 8 PM ET on ESPN; the Wizards lead Atlanta by five games with less than a month remaining before the playoffs.
NBA Odds: Clippers Try to Slow Down Bucks in LA -
Milwaukee Bucks small forward Giannis Antetokounmpo and Los Angeles Clippers power forward Blake Griffin are two of the most talented and versatile forwards in the NBA. The two lead their teams into battle on Wednesday in Los Angeles.
NHL Odds: Canadiens Welcome Islanders Tonight -
The Montreal Canadiens (32-20-8) welcome the New York Islanders (28-21-10) on Thursday (7:30 PM ET on SNE). After getting their first victory under new head coach Claude Julien, the Canadiens will look to build on that momentum against a red-hot Islanders team.
NHL Odds: Reeling Flyers Seek Relief in Pittsburgh -
#nhl The Philadelphia Flyers have been a bit off since the holidays. They’ve won just eight games since the Christmas break, and now they’ve got a tough one coming up this Saturday night against the Pittsburgh Penguins.
Dollars to Donuts Slot Launch -
Firstly, it's a classically styled, easy playing 3-reel with five pay lines featuring a traditional icon set of bars and sevens.
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