More Wagers, Less Taxes Collected In August For Tennessee Sports Wagers
Tennessee Saw More Wagers And Less Taxes Paid On Those Wagers In The Second Month Of Its New System For Taxing The State’s Sportsbooks.
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Sports Wagering
New Tennessee Gross Wager Gambling Tax Could Cost State Money
Tennessee’s New System For Taxing Sports Wagering Will Begin July 1.Had The New Tax Been In Place Since Wagering Began In November 2020, The State Would Have Collected $154 Million Compared To The $142 Million It Has Collected. But Those Numbers Have Changed In Recent Months.
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Lee Signs Bill To Charge Tennessee Sportsbooks 1.85% On Gross Wagers
Tennessee Gov. Bill Lee Signed A Bill That Will Make Tennessee The First State To Tax Sportsbooks Based On The Total Gross Wagers Accepted In The State.
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Tennessee Collects $6.4M In Sports Wagering Taxes In April
Tennessee Collected $6.4 Million In Taxes On $318.4 Million In Gross Sports Gambling Wagers In The State During April.
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Tennessee Collected $8.8M In Taxes On $392.7M In Sports Wagers In March
Tennessee Collected $8.8 Million In Taxes On Sports Wagering In March On $392.7 Million In Wagers. The Tax Collections Were The Third Highest Since Online Sports Wagering Began In Tennessee In November 2020 And Coincided With The NCAA Basketball Tournament.
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Tennessee Senate Advances Plan For 2% Tax To Sportsbooks On All Wagers
A Bill That Will Change How Tennessee Taxes Sports Gambling Will Next Head To The Senate.
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Tennessee Bill Would Tax Sportbooks On Total Bets Placed, Not Revenue
A Tennessee Sports Wagering Bill Would Change The Way The State Computes Taxes On Sports Betting From Taxing The Amount Sportsbooks Make In Revenue To Taxing All Wagers Placed In The State.
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$54M Tennessee Child Care Program Would Be Funded By Sports Gambling
A Bill That Would Ultimately Take $54 Million Worth Of Annual Sports Gambling Taxes And Spend It On Child Care Scholarships Passed A Senate Committee Despite The Objection Of Two Republican Lawmakers Who Believe Funding Child Care Is Beyond The Scope Of Government.
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Tennessee Sees $327M In February Sports Wagers
Tennessee Saw $327 Million In Sports Wagers In February And Received $6.4 Million In Privilege Tax During A Month Highlighted By The Super Bowl, One Of The Largest Sports Betting Events Of The Year.
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Tennessee Earned $7.3M In Taxes On $410.8M In Sports Wagers In January
Tennessee’s Sportsbooks Collected $7.3 Million In Privilege Tax On $410.8 Million In Bets In January.
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