Since 2018, 30 states and the District and Columbia have legalized and imposed taxes on sports betting. States that have yet to legalize, but which may do so, should pay attention to the impact of tax design in states that already have legal and taxed sports betting—specifically tax base design.
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With many state legislative sessions wrapping up for this year, and a new fiscal year about to begin, it’s a good time to examine some of the 2021 legislative trends—and sports betting taxes are among the more prominent.
Lawmakers would be well-advised to consider changes to the federal excise tax on sports betting if the industry is to be successful competing against the large illicit market for wagers.
The Tax Foundation’s “State Tax Policy Boot Camp,” is ideal for anyone interested in gaining a better understanding of state taxation.
The potential override of Gov. Larry Hogan’s (R) veto of a digital advertising tax (HB732) looms large over the current legislative session in Maryland, though it is only one of many tax proposals under consideration in the state.
Although this week’s Super Bowl festivities may be muted, states with legalized sports betting may have something to cheer: a tax revenue bump thanks to the accompanying excise taxes.
See the results of the most notable state and local tax ballot measures during Election 2020 with our curated resource page.
Here are the state tax ballot measures to watch on Election Day 2020. Explore the most notable 2020 state tax ballot measures in 15 states.
The pandemic has left states in dire straits financially and lawmakers are getting creative in their pursuit of new revenue sources. However, it’s unlikely that revenue from sports betting will have any meaningful impact on budget shortfalls