Louisiana’s governor has approved an 8% tax rate on fantasy sports betting in about four dozen parishes that legalized it in 2018.
The competitions for online cash prizes couldn’t begin until the state set the rules and tax rate.
The legislation (H.B. 64) was among several tax bills pitched as coronavirus recovery measures by Louisiana’s Republican-led Legislature to secure approval from Gov. John Bel Edwards (D) on Monday.
Edwards approved regulations for fantasy sports betting last month. The 8% tax rate will apply to the net revenue for all fantasy sports contests.
Louisiana Gov. John Bel Edwards (D)
Photographer: Paras Griffin/Getty Images
Edwards also approved new ...
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