Illinois SB3845 amends the Sports Wagering Act by removing a per-wager tax on sports wagering and imposing a tiered tax on annual adjusted gross.
Illinois SB3845 amends the Sports Wagering Act by eliminating the per-wager tax on sports wagering and instead imposing a tiered tax on annual adjusted gross sports wagering receipts. The tax rates are 20% for receipts up to $30,000,000, 25% for receipts between $30,000,000 and $50,000,000, 30% for receipts between $50,000,000 and $100,000,000, 35% for receipts between $100,000,000 and $200,000,000, and 40% for receipts exceeding $200,000,000. The tax is due monthly and collected by the Illinois Sports Wagering Board.
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- Legal Framework
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