HB4398

Modifies the privilege tax rate for sports wagering licenses in West Virginia.

Increases the percentage amount for the privilege of holding a license to operate sports wagering from ten to 25 percent. The tax is imposed on adjusted gross sports wagering receipts and is due in weekly installments. The bill also specifies that the tax is in lieu of other taxes, except for ad valorem property tax. It prohibits credits against the privilege tax obligation for investments in gaming equipment or real property improvements. The tax amount is remitted by electronic funds transfer simultaneously with the filing of the return.