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A Missouri Sports Betting bill on Monday cleared the House General Laws Committee, and one of its provisions is a doozy: It calls for an “entry and facilities infrastructure fee” to be funded with an off-the-top cut from all legal sports bets — in order to pay for the construction and upkeep of private or commercial stadiums in the state.
This 0.6% fee on total betting handle would come in addition to a 0.25% “royalty” — aka “integrity fee” — included in the bill, combining for what amounts to a large 0.85% off-the-top tax benefiting sports leagues directly and indirectly, in exchange for nothing.
“Just so that everyone understands, the tax assessment here … between the royalty fee and the stadium fee, 0.85% would translate to a 17% tax rate,” state Rep. John Carpenter explained to the Missouri Times. “I’m willing to support a compromise, but this compromise has a 17% tax rate that isn’t going to go to the state.”
-No Sports Betting on Sundays or major holidays (Tennessee)
-A 3% Sports Betting ‘mobile convenience fee’ (Iowa)
-A 6.25% Sports Betting quasi-sales tax (Texas)-Sports Betting revenue to fix PNC Park (Pittsburgh Pirates)
-Banning betting on Kentucky college teams (Kentucky)
-Allowing Sportsbooks to extend credit directly to bettors (Vermont)-Requirement to ‘seek partnerships with sports leagues’ (Connecticut)
A Missouri Sports Betting bill on Monday cleared the House General Laws Committee, and one of its provisions is a doozy: It calls for an “entry and facilities infrastructure fee” to be funded with an off-the-top cut from all legal sports bets — in order to pay for the construction and upkeep of private or commercial stadiums in the state.
This 0.6% fee on total betting handle would come in addition to a 0.25% “royalty” — aka “integrity fee” — included in the bill, combining for what amounts to a large 0.85% off-the-top tax benefiting sports leagues directly and indirectly, in exchange for nothing.
“Just so that everyone understands, the tax assessment here … between the royalty fee and the stadium fee, 0.85% would translate to a 17% tax rate,” state Rep. John Carpenter explained to the Missouri Times. “I’m willing to support a compromise, but this compromise has a 17% tax rate that isn’t going to go to the state.”
-No Sports Betting on Sundays or major holidays (Tennessee)
-A 3% Sports Betting ‘mobile convenience fee’ (Iowa)
-A 6.25% Sports Betting quasi-sales tax (Texas)-Sports Betting revenue to fix PNC Park (Pittsburgh Pirates)
-Banning betting on Kentucky college teams (Kentucky)
-Allowing Sportsbooks to extend credit directly to bettors (Vermont)-Requirement to ‘seek partnerships with sports leagues’ (Connecticut)