Tag: tax foundation

Tax Foundation research bears out diverse US wagering tax rates, barriers to entry

On Tuesday (17 September) the Tax Foundation released an interactive map that shows tax rates for every legal US online sports betting jurisdiction. The map reveals the diverse tax structures that exist across the country.
Operators must deal with separate sets of laws, regulations and tax structures in each jurisdiction in which they are licensed.

The map does not include the fees that operators must pay in each state. But according to the press release, high licensing fees are among the “common barriers” to entry. It uses as examples Massachusetts, which has a $5m (£3.8m/€4.5m) initial fee and $5m renewal every five years and Pennsylvania, which has $10m initial fee and $250,000 annual renewal.

New York, which is capped at nine operators, has the highest initial fee at $25m. In part because of that, only major US or global platforms are available in the state.

Cost of business related to survival in a market
The Tax Foundation also pointed to the requirement to be tethered to ..

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