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Colorado DOR Adopts Regulations on Sports Betting Licenses, Sports Betting Activity Excise Tax

Feb. 24, 2020, 5:00 AM

The Colorado Department of Revenue Feb. 20 adopted regulations on sports betting for excise tax purposes. The rules include measures: 1) imposing a tax on sports betting activity at the rate of 10 percent of net sports betting proceeds; 2) providing procedures for the payment of taxes; 3) specifying the rights, responsibilities, and duties of licensees; 4) establishing an annual sports betting operations fee; and 5) providing requirements for issuance of licenses to persons who formerly held a license. The regulations take effect 20 days after publication in the Colorado Register. [Colo. Dep’t of Revenue, Regs. Sections 207-2-1, 207-2-2, 207-2-3 ...