Colorado sports betting tax cap could be increased to finance water projects

The cap on sports wagering taxes that go toward state water projects is currently $29 million. Colorado voters have the option to raise it this November.

Sports betting operations in Colorado are currently subject to a 10% tax rate. The revenue generated is split between water projects and operator oversight, with a maximum of $29 million going to each of the two.

 

[Qwert135]

This will certainly affect the most of the companies that are making in the gambling market but we have to see that how it impacts the industry if that is good action taken out of the money that is being made from the market then it is certainly good and therefore we need to appreciate it