NC S388

Imposes a 6.75% excise tax on unauthorized wagers placed by persons located in North Carolina and wagers placed by someone physically located in the state, including sports betting, gaming events, wagering pools, and lotteries conducted for profit.

Tax liability falls on the person who accepts wagers subject to the tax.

Monthly tax reports are due within 20 days after the end of each calendar month, with taxpayers required to maintain records of all documents supporting reported information.

Net proceeds from the tax are credited to the General Fund.

Tax information is confidential and cannot be used as evidence in criminal prosecutions for illegal gambling or betting offenses, protecting taxpayers from self-incrimination; Department officers who violate this prohibition are guilty of a Class 1 misdemeanor.