Alabama has become the latest state to tax and regulate fantasy sports contests.
Sports fantasy operators must register with the state Office of Attorney General and pay a 10.5% tax on entry fees they get from state residents that play the games, under a bill (H.B. 361) Gov. Kay Ivey (R) signed into law May 31. Rep. Kyle South (R), the bill’s sponsor, said the fees and taxes will generate about $4 million in annual revenue.
- In fantasy sports, players make their own teams of pro athletes to compete against other players’ lineups.
- Large operators with more than ...
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