Missouri Lawmakers Push to Increase Casino Taxes, Fees
Highlights
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House Bill 3533, proposed by Rep. Jeff Knight, R-Lebanon, intends to raise taxes on casinos to offset income tax cuts.
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Missouri’s track record of gambling legalization suggests that the bill would take more time to be enacted.
The new proposal drafted by Rep. Jeff Knight, R-Lebanon, aims to raise taxes on casinos to compensate for reduced income tax rates, which have been a key contributor to local government revenue.
However, additional tax collected from the gaming sector can be used for education, historic preservation, supporting local governments, and meeting other essential needs.
Under this new scheme, the Missouri Gaming Commission is expected to collect $5.50 in casinos for every 2 hours. These charges are adjusted according to inflation using the Midwest Region’s Consumer Price Index (CPI).
Moreover, the monthly fee 1.5% of total wagers (handle) is to be implemented instead of the standard admission fee for online or remote sports betting operated via casino licenses. The revenue becomes a part of the gaming commission funds.
There has also been opposition to this new gambling tax framework. Mike Winter, a lobbyist representing the Missouri Gaming Association, has pointed out declines in revenue due to increased availability of slot machines across stores and gas stations.
Chance Hepola, director of government affairs for the Missouri Chamber of Commerce and Industry, has voiced out against the bill.
Under any circumstances, House Bill 3533 will not become law anytime soon.As Missouri seems to have pending gambling-related legislation.
To know the full news story, Read Here!
However, additional tax collected from the gaming sector can be used for education, historic preservation, supporting local governments, and meeting other essential needs.
Under this new scheme, the Missouri Gaming Commission is expected to collect $5.50 in casinos for every 2 hours. These charges are adjusted according to inflation using the Midwest Region’s Consumer Price Index (CPI).
Moreover, the monthly fee 1.5% of total wagers (handle) is to be implemented instead of the standard admission fee for online or remote sports betting operated via casino licenses. The revenue becomes a part of the gaming commission funds.
There has also been opposition to this new gambling tax framework. Mike Winter, a lobbyist representing the Missouri Gaming Association, has pointed out declines in revenue due to increased availability of slot machines across stores and gas stations.
Chance Hepola, director of government affairs for the Missouri Chamber of Commerce and Industry, has voiced out against the bill.
Under any circumstances, House Bill 3533 will not become law anytime soon.As Missouri seems to have pending gambling-related legislation.
To know the full news story, Read Here!
