Chris Christie accepts tax settlement from Donald Trump, essentially waving $25 million in casino tax payments for New Jersey.
Casino operators across the United States have to pay a certain amount in taxes as well as fees to be able to operate under individual state regulations. Each state that offers casino gaming has a set percentage that has to be paid based on such factors as gaming type, location, etc. These rules apply in the state of New Jersey just like anywhere else. It was recently revealed that Donald Trump has not paid $30 million on owed casino taxes and he has now been allowed to forfeit $25 million of that tax amount.
Chris Christie Agrees to Deal
New Jersey decided to sue Trump for casino taxes that were not paid from a time frame of 2002 to 2006. The amount owed was $30 million. Trump was accused of filing false reports with regulators of state casinos on the amount of taxes in which his company was paid. The legal battle took place for six years until Chris Christie, the governor of the state, decided to step in.
The New York Times is reporting that the administration of Christie decided to accept the $5 million tax settlement proposed by Trump which is basically like 17 cents on the dollar based on what auditors have stated the casinos owed the state government. Many believe that the friendship between the two played a part in the deal that was agreed upon. Christie and Trump have known each other since 2002 when Christie was introduced to Trump by Maryanne Trump Barry, Donald’s sister.
The two have been quite chummy since meeting, with Christie being invited to a wedding for Trump, Trump attending the inauguration of Christie for governor, etc. It has also been revealed that Trump made huge donations to a nonprofit organization that works to maintain the residence of the governor.
Trump has also been linked to donating to the Republican Governors Association and given as much as $170,000 to help back the election campaign of Christie. Trump has reportedly spent over $600,000 in donations to the republican group.
A spokesman for the governor, Brian Murray, has made a statement in regards to the settlement, maintaining that Christie was not involved in the deal being made. Murray stated that the Department of Treasury and Office of the Attorney General for the state were the ones involved in the closing of the settlement.
Murray actually accused the New York Times of showing bias by using a complex bankruptcy settlement to create a piece of political fiction. Murray stated the newspaper ignored the simple fact that Christie had no knowledge of the settlement nor was he involved in the matter.
What Does This Mean for the Presidency and Online Gambling Industry?
Individuals in the United States are certainly divided when it comes to the 2016 presidential election of which Trump is a part of. While some are split between voting for Trump or Hilary Clinton, many do not want to choose between the two. Those who enjoy casino gambling want to see a presidential candidate decide on the issue of online gambling. Many wish to see a federal measure put in place that would allow for online gambling such as casino and poker gaming take place across the board.
In the state of New Jersey, online casino and poker gaming is prevalent. If Christie and Trump are such big buddies, will Trump make a move to see federal legislation put in place in regards to online gaming? Trump has not come out with a stance on the issue so many are wondering just where he stands.
Overall, Trump is going to be scrutinized for being able to cut such a deal in regards to owing taxes within the state of New Jersey.