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Ohio governor suggests tax hikes on sports betting
Governor Mike DeWine proposed a two-year state budget on Monday, focusing on raising taxes on sports gaming and marijuana to fund various initiatives, including a new child tax credit, police training, county jails, and professional sports facilities.
The budget suggests raising the tax on sports gaming wagers from 20% to 40% to generate up to $180 million annually. This revenue would be directed toward professional sports facilities, minor league teams, and youth sports. A new commission would oversee funding for projects, with state contributions capped at 40% of a facility’s total cost.
Mr. DeWine said:
“There is not one company that said to us. We can’t come to Ohio because your taxes are too high. We’ve been able to cut taxes now, working with the legislature, for a number of years. We are now extremely competitive. Our biggest challenge is making sure we have a workforce that can take on new jobs that we are fast creating in the state of Ohio. So our focus needs to be on investing in our people, and that’s what this budget does.”
The final budget must be approved by June 30.
Ohio senator proposes reducing sports betting tax to 10%
Niraj Antani, an Ohio state senator who has a significant role in sports betting legalization in 2022, now suggests reducing sports betting taxes from 20% to 10% in Ohio,...
