is it illegal to cashout in NC

Reply to Thread
  1. hothands20 hothands20 is offline

    Wilmington, NC
    United States

    Posts: 111
    Joined: Oct 06

    Jun 25th, 2009 (6/25/2009 2:30pm)

    won 35k and i am just wondering if i cash this out and pay taxes will i get in trouble. i think there are some new laws. been resding some but i cant find what im looking for.
  2. NCGreensboro NCGreensboro is offline

    Greensboro, NC
    United States

    Posts: 404
    Joined: Oct 06

    Jun 27th, 2009 (6/27/2009 1:45am) in reply to hothands20

    yeah i suggest premium bank wire. sick brag btw
     
  3. Sonic Tilt Sonic Tilt is offline

    San Francisco, CA
    United States

    Posts: 62
    Joined: Oct 08

    Jun 28th, 2009 (6/28/2009 4:43pm) in reply to hothands20

    Do your homework, go online and look for a poker tax book. I think there was a lady on pocketfives who did a book about taxes though I can't remember her name. You might want to ask David Huber about the book and read it before you cash out. JEEEEEZE I WISH i had your problem :)
  4. Skallagrim Skallagrim is offline

    Portsmouth, NH
    United States

    Posts: 90
    Joined: May 07

    Jun 29th, 2009 (6/29/2009 6:31pm) in reply to hothands20

     
    Originally Posted by hothands20 View Post

    won 35k and i am just wondering if i cash this out and pay taxes will i get in trouble. i think there are some new laws. been resding some but i cant find what im looking for.

    There are no laws that make cashing out online poker winnings a crime in and of itself. Failing to pay taxes on income derived from poker is a crime, of course.

    Even the UIGEA does not apply to cashing out.

    Obviously, cashing out online poker winnings does identify you as an online poker player.

    The mere playing of online poker violates no Federal law.

    Whether playing online poker violates the law of the State of North Carolina is a very difficult question with no absolutely guaranteed correct answer. If arrested for it though, you would be the first ... and even though you say that you live in NC, how would a Prosecutor be able to prove in court that you were in NC at the time you were playing online poker (ever hear of a laptop or an internet cafe)?

    If you want a full analysis of NC law and online poker, you should search the PPA forums or ask your questions there.

    Skallagrim
Reply to Thread