It's not every day a wonky article on state gambling taxes gets the attention of that state's governor, but that's exactly what happened in North Carolina.
Nathan Goldman and Christina Lewellen, both associate professors of accounting at the Poole College of Management at North Carolina State University, recently wrote what amounts to an eye-opening article, detailing how sports bettors in the Tar Heel State will be on the hook to pay taxes on their sports betting winnings – even if they are sports betting losers.
This article clearly got to Gov. Roy Cooper's desk, as he, less than a week later, called on the North Carolina legislature to immediately fix the problem.
And the problem is relatively simple, as far as these tax things go: Gamblers in North Carolina are not allowed to write off gambling losses.