La. House Approves 8% Tax On Fantasy Sports Contests

By Paul Williams (June 18, 2020, 7:40 PM EDT) -- A Louisiana bill that would establish a tax rate on fantasy sports contests has passed the state House of Representatives, moving the state closer to offering the virtual sporting events with cash prizes in parishes where they are legal.

The House passed H.B. 64 on Wednesday with an 82-11 vote, sending the legislation over to the Senate. The bill would impose an 8% tax on the net revenue of fantasy sports contests, defined as total entry fees from all participants after winnings paid are subtracted, and earmark the revenue for early childhood education.

Forty-seven of Louisiana's 64 parishes voted in favor...

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