Illinois HB5814 amends the Sports Wagering Act to revise tax rates and reporting requirements for sports wagering licensees.
HB5814 amends the Sports Wagering Act to revise tax rates for sports wagering licensees based on their annual adjusted gross sports wagering receipts. It imposes a privilege tax on master sports licensees, with rates ranging from 20% to 40% depending on the amount of receipts. The bill also mandates that licensees use official league data for determining the results of tier 2 sports wagers, unless a sports governing body cannot provide such data on commercially reasonable terms.
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