The Illinois Senate passed a bill Sunday night that would revamp the state’s sports betting method of taxation to a progressive one based on operator revenue amounts starting with Fiscal Year 2025 beginning July 1.
HB 4951 passed 37-22, with one key amendment added from Saturday’s original proposal. While mobile and retail adjusted gross sports betting revenue would be taxed at the same progressive rates, they would be taxed as separate entities…
The first $30 million in AGR would be taxed at 20%; the next $20 million at 25%; revenue from $50 million to $100 million would be taxed at 30%; revenue from $100 million to $200 million at 35%; and all revenue above $200 million would be taxed at 40%.
