Sweepstakes Betting Is Expanding Fast. Here’s What SportsTech Companies Need to Know
Sweepstakes‑based betting is rapidly reshaping the U.S. SportsTech landscape by allowing operators to sidestep fragmented state gambling laws and reach users nationwide. The model uses two virtual currencies—one for gameplay with no cash value and another redeemable for cash or prizes—while mandating a free entry option to satisfy sweepstakes regulations. Federal tax law treats all winnings as taxable income, triggering 1099‑MISC reporting for amounts over $2,000 and a 24% withholding for prizes above $5,000. State tax treatment varies widely, creating multi‑jurisdictional compliance challenges for both players and platforms.
On‑Site Vs. Desktop Equipment Appraisals for SBA 7a Loans: How Lenders Should Decide
Lenders underwriting SBA 7a loans must choose between desktop and on‑site equipment appraisals, a decision not dictated by SBA SOPs unlike the mandatory on‑site requirement for 504 loans. Desktop appraisals are cost‑effective and faster, leveraging data, video calls, and photos,...
Digital Health RX
Withum has launched the "Digital Health RX" podcast mini‑series, hosted by tax partner Luca Panarelli. The show targets digital‑health founders and operators, offering practical guidance on business structuring, regulatory compliance, capital‑raising strategies, and exit planning. Panarelli draws on Withum’s deep sector expertise...
The R&D Tax Credit: A Powerful but Overlooked Incentive for the Agriculture Industry
The federal Research and Development (R&D) Tax Credit, codified under IRC Section 41, now extends to agricultural innovators who experiment with crops, livestock, and production processes. Qualified Small Businesses (gross receipts under $5 million) can apply up to $500,000 of the credit...
Redemptions and Reality: Rethinking Liquidity in Private Credit
The U.S. Treasury is urging regulators to address mounting liquidity risks in private credit, a sector where semi‑liquid funds have long balanced illiquid loan portfolios with periodic redemptions. Rising rates, widening spreads and recent defaults have turned confidence into a...