US tax bill changes deductions and reporting rules affecting gaming companies
Gaming industry representatives discussed the federal tax legislation at a Global Gaming Expo panel in the United States, with KPMG’s Robert Stoddard outlining provisions affecting operators. He said the bill restores bonus depreciation for qualifying capital spending and changes interest deductions, while a possible increase in the gambling-winnings reporting threshold from $600 to $2,000 still needs regulatory clarification.
Operators may need to reassess capital spending, tax deductions and reporting processes as provisions take effect.