(Bloomberg) A South Korean businessman who lost thousands of dollars in a California casino shouldn’t be taxed for each winning pull of a slot-machine lever, a U.S. appeals court found.
Sang J. Park, who visited the casino while on vacation, can calculate taxes based on the outcome of sessions of gambling rather than on individual bets, the U.S. Court of Appeals in Washington said Tuesday, ruling against the U.S. Internal Revenue Service and reversing a Tax Court decision.
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