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Gambling or Skill: Taxation Issues Surrounding the Daily Fantasy Sports Industry
Get PDFWith a waxing interest in sporting events, participants are increasingly supplementing passive viewing with a more active role. Fantasy sports leagues have burgeoned as a result, with corresponding increases in live game attendance and media consumption across platforms. Fantasy bettors seek financial gain through the ability of athletes and the likelihood of their team performing well in a sporting event. A major legislative concern within this industry is whether these activities are considered gambling, with its related stigma, or otherwise just a type of sporting activity. More importantly, gambling has a long history as a major source of tax revenue within its lineage. This paper examines these current public policy and taxation issues that will shape the future landscape of fantasy sports. Various legislation has defined type and scope of betting that have been gradually modified to permit a larger role for individual states to develop policies. A majority of states have adopted tests that apply the degree of chance versus skill in a contest. As of 2020, sports betting has been declared legal and is presently providing tax revenue in 23 states plus Washington, D.C. Higher levels of chance are generally deemed an illegal activity, using the 10th Amendment to the U.S. Constitution as a basis. Recent IRS opinions (July 2020) find that daily fantasy sports operators are liable for two federal excise taxes and must identify themselves by registering as a business accepting wagers. Lower gaming taxes are associated with a proliferation of legal sports betting. For this paper each of the following three properties must be present to be considered gambling: consideration, prize, and chance. States have authority in defining gambling activities, with Congress regulating commerce among states. Substantial opportunity exists in taxing online betting as a source of revenue or placing excise taxes on gambling as a method to control consumer 3 behavior. To the extent that federal and state governments continue debating legalized betting activities and the related taxes generated, consumer protection must focus on continued legitimacy of the environment and address addiction risk as a basis for further growth
Tesla vs. its Stock Price: “Herd Theory” at work?
Get PDFSince its inception in 2003, Tesla, Inc. has striven to be more than simply an electric automobile manufacturer. Since its first release in 2008 (the luxury Roadster), the company has introduced several additional high-end models as well as a much anticipated mid-priced model. Its vehicles consistently receive enthusiastic reviews from consumer analysts and industry publications alike. Perhaps as a reflection of its continued innovation and product-line expansion, as well as investor optimism regarding the company’s future prospects, its stock price has risen to extraordinary levels. However, despite all of this apparent success and highly-valued stock, Tesla has generated relatively little profit to date. This research paper analyzes some of the factors that have led to such a high stock valuation. It examines the background of the company from inception to the present, the impact that its charismatic CEO Elon Musk has had on the stock price, and whether or not “herd behavior” could be at play
Are the Vision Statements of Fortune 50 Companies Convincing? You Can Make That Decision.
Get PDFThe purpose of the study is to provide a background for describing and explaining organizational vision statements. The corporations selected were on the 2019 Fortune 500 list. Of that list, the researchers specifically looked at all revenues, net profits (as percentages), and vision statement word counts for the Fortune 50 companies—for 2019. The study also looked at the vision statement word counts for all Fortune 500 companies whose net profits were equal to or greater than the top performing Fortune 10 companies—for 2019. The findings show that the top 10 of the Fortune 50 companies have, on average, lower vision statement word counts than the rest of the firms—except for one segment (31 – 40). These same 10 companies, had, on average, lower vision statement word counts than the other 39 Fortune 500 companies studied (i.e., who had a net profit of equal to or greater than the top performing Fortune 10 companies—for 2019). The researchers believe that a vision statement is an important tool for every organization, and it should play a significant role in the long-term operation of any business. A well-crafted vision statement can provide the focus and motivation to take your business to the next level—it should be easy to remember and it should inspire and motivate everyone
Tariffs, Trade Wars, and Protective Barriers: Should Louisianans be Worried?
Get PDFThis paper is designed to give an overview as to how Tariffs as proposed and enacted by our current Federal Government came about and why citizens both in the U.S. and in the State of Louisiana might be affected
Medical Marijuana and the Workplace Impact: Guidelines for Revising Employment Policies
Get PDFWith more states legalizing the use of medical marijuana, employers may have adjust their workplace policies to ensure that their employees are adequately protected while at the same time protecting the rights of those who have been prescribed marijuana. This is a challenge given the varying laws from state to state as well as the continued criminal prohibition on federal law. This articles reviews some of the early case law in this area and provides employers with some tips on how to address the issue of accommodating medical marijuana users
The Terrorist Laffer Curve:Rationality and Insurgency in Iraq, 2004-2008
Get PDFWhile the original framework by Arthur Laffer focused on tax rates and the resulting revenue from such taxation, the Laffer curve has been applied to other studies in behavior as well. This paper details evidence of a Laffer curve in Iraq with respect to terrorist violence and Iraqi public support of that violence against the U.S.-led coalition forces. As insurgents began killing more Iraqi citizens in their attacks on U.S.-led forces, the increased lethality caused initial support of such violence to erode. As a result, the high-level terrorist hierarchy has suggested that its operatives reduce lethality and indiscriminate bombings
Computer Applications
No full textThe Computer Applications course focuses on both theoretical knowledge and hands-on application projects. The course will prepare students to not only utilize Microsoft Word, Excel, PowerPoint, and Access software, but will also to be able to translate this knowledge to other similar application software commonly used in industry
Genetic variation among populations of, and evidence of deep divergence within, the Rio Grande Chirping Frog, Eleutherodactylus campi (Anura: Eleutherodactylidae)
Get PDFHerein we report the first molecular assessment of intra-species genetic variation and interrelationships within the Rio Grande Chirping frog, Eleutherodactylus campi. We analyzed 548 base pairs of 16S rRNA gene for 71 ingroup individuals belonging to the genus Eleutherodactylus (including 42 E. campi sampled from 15 localities in the United States and Mexico) and four outgroup samples. By unveiling two highly divergent and geographically structured clades within E. campi this study provides a novel phylogenetic placement of E. campi populations north and south of the Rio Grande Valley as sister groups to each other. The observed level of genetic divergence between these two clades (5.8%) is, on average, comparable to or greater than the levels of divergence found between several currently valid amphibian species pairs. Estimates of Time to Most Common Ancestor (TMRCA) indicate that the phylogeographic split between the two E. campi clades may have occurred 7.6 MYA (i.e., late Miocene), consistent with the geologic history of southwestern North America. The study also confirms that south Texas served as the source population for populations of E. campi in its introduced range (i.e., Alabama, Louisiana, and Texas). Overall, this molecular study indicates that E. campi consists of two deeply divergent lineages corresponding to its populations north and south of Rio Grande Valley. These results suggest that the recovered lineages may represent independent species and thereby highlight the need for further research to clarify their status
The Implications of the Sarbanes-Oxley Act of 2002 Twenty Years Later
Get PDFDefine the process and experimental design of thesis As a scholarly thesis written by a Business Management Major with a concentration in Human Resource Management, this article shall outline one, the ethical and legal implications of Sarbane-Oxley Act of 2002 and two, its implications on business ethics. It is paramount that the foundation of this act is discussed in order to holistically comprehend the entirety of its impact on accounting practices today. Null Hypothesis Within business, there are laws, guidelines and rules that govern the quality of business ethics and investor trust. Businesses are expected to consistently maintain the mandates set out before them. Mandates like the Sarbanes-Oxley Act and Discimination Acts, highlight certain areas in business that require extra attention due to unethical and now unlawful behavior. Alternative Hypothesis It is my belief that in today’s day and age, that the Sarbanes-Oxley Act has only partially successfully accomplished what it was set out to do in regaining the trust of consumers in the realm of investment in business. More and more, even with the 2002 Act, as a society we are moving away from credibility in business. Expected Conclusion I expect for the overall impact of the SOA to be positive due to the stricter guidelines that the act put forth. In other words, the outcome of this study is projected to prove that businesses are incentivised to act more ethically in their accounting practices and corporate responsibilities