Tennessee Conservative
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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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 Has Now Collected $1.3 Billion More In Taxes And Fees Than Were Budgeted For The Fiscal Year, Which Just Completed Its Seventh Month.
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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’s Sportsbooks Collected $7.3 Million In Privilege Tax On $410.8 Million In Bets In January.
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A Bill That Would Eliminate Tennessee’s Business Tax Moved Out Of Senate Subcommittee With A Negative Recommendation On Tuesday.
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Tennessee Has Collected $1.2 Billion More In Taxes And Fees Than Budgeted During The First Six Months Of The Fiscal Year. The Overages Are Then Able To Be Used By Lawmakers The Next Year.
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Tennessee Brought In More Than $68 Million In Sports Betting Privilege Tax In 2022, A 67% Increase From The $40.7 Million Collected In 2021.
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While The Growth Rate Has Dropped From The Large Increases Of Last Fiscal Year, Tennessee’s Tax And Fee Collections Continued To Exceed The Budgeted Expectations In December.
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Tennessee Set Records Again For Sports Wagering In December With $440.4 Million In Bets Placed.
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