A bill that aims to remove the opportunity to deduct bonus spending from sports betting taxes in Virginia, effectively increasing the amount of tax that operators will pay, has been introduced to the state House.
House Bill 1103 aims to prohibit sports betting operators in Virginia from disregarding promotions and bonuses from taxed revenue, after the first 12 months of betting activity has passed.
The bill looks to do this through amending sections 58.1-4030 and 58.1-3037 of Virginia’s state code, clarifying that from 12 months after launch, operators will be taxed on revenue without deducting bonuses.
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