Tag: US federal online gambling tax
US federal online gambling tax regime proposed in new legislation
November 18, 2013
iGaming Business – A new federal online gambling tax regime has been proposed in the US in response to the launch and pending launch of internet gambling in various states throughout the country. Put forward by Rep. Jim McDermott, the Internet Gambling Regulation and Tax Enforcement Act of 2013 would create a 12% deposit tax that would be paid by licensed operators rather than players. The federal government would collect 4% of this tax, with the remaining 8% being distributed to qualified states and tribes in the federal regime. The tax payable to states and tribes would remain dependent upon…