The Iowa Governor May 13 signed a law authorizing sports wagering and fantasy sports contests. The law includes measures: 1) allowing persons 21 years and older to wager on sporting events at any of the state’s casinos and from web-based platforms; 2) providing for an initial license fee of $45,000 for sports betting; 3) establishing a 6.75 percent excise tax rate on net receipts; and 4) providing the licensing requirements to conduct sports wagering and fantasy sports contests. The law took effect May 13. [/IA\FINAL\2019R1SF617///, enacted 05/13/19]
Reference:
View Bill. View Legislative Information.
Learn more about Bloomberg Tax or Log In to keep reading:
See Breaking News in Context
From research to software to news, find what you need to stay ahead.
Already a subscriber?
Log in to keep reading or access research tools and resources.