Louisiana set to consider sports betting tax hike to 51%

Louisiana is considering a significant tax increase on online sports betting that could raise its current 15% tax rate to 51%, making it the second-highest state in the US after New York and Vermont.

The bill proposes to tax net gaming profits from online sports betting sites at a rate of 51%. Additionally, it seeks to eliminate the regulation that permits operators to deduct promotional credits from their taxable income.

 

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Louisiana is evaluating a substantial tax increase for online sports betting, proposing to raise the current rate from 15% to 51%, which would make it the second-highest in the U.S. after New York and Vermont. The bill also suggests removing the provision allowing operators to deduct promotional credits from their taxable income. If approved, this could considerably impact the revenue structure of online sports betting sites operating in the state.