Lawmakers pitch 15% to 25% tax rate for new iGaming states
The proposal is based on the current tax model in New Jersey.
Key Points
- Seven US states currently offer legal iGaming
- This proposal would establish a tax rate and ban credit card deposits
Legislators from states with legal iGaming have proposed a set of standards going forward that would affect new states that decide to open legal and regulated online gaming, according to an Associated Press report.
Those states considering opening iGaming markets could be subject to a 15% to 25% tax rate, as well as a ban on credit card deposits.
The National Council of Legislators from Gaming States has modeled the proposed standards after how iGaming is conducted in the state of New Jersey.
The proposal was created to “give them a framework around which to build their own legislation while incorporating things that have been working well in other states,” the AP report said.
National Council of Legislators President Shaun Fluharty told the AP, “Many states have been discussing this, but were having a hard time getting it across the finish line. We’re trying to put together some best practices for them.”
The council is scheduled to meet in New Orleans next week for its winter meeting to further discuss the pitch.
To date, online gaming is legal in some form in seven US states, although some of those have limited access, such as online poker only.
States with legal iGaming access include Pennsylvania, Delaware, Nevada, New Jersey, Rhode Island, West Virginia and Connecticut.
Throughout the past several months, online gaming has remained a topic of controversy in several states and throughout the country at large.
However, since the Supreme Court overturned PASPA nearly seven years ago, legal sports betting has rapidly spread throughout the country.
Along with the District of Columbia, sports wagering is legal in 38 states. But the legal online gaming market has not experienced the same explosive expansion as sports betting.
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