Sports Betting Tax to Go Before Voters in Colorado

Colorado voters will decide next month whether to legalize sports betting and immediately subject it to taxation.

The measure (Proposition DD), referred to the ballot by the Colorado General Assembly, would legalize and regulate sports betting through online or mobile sports betting platforms operated by casinos in the state. It would impose a 10% tax on casinos’ net sports betting proceeds. Voters on Nov. 5 will also consider a measure (Proposition CC) that will allow the state to spend the money it would ordinarily be required to return to taxpayers under the state’s unique tax-and-spending limitation ...