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Missouri wants 21 Percent Tax on Daily Fantasy Sports
Wednesday, March 23, 2016 : MISSOURI BILL PROPOSES 21 PERCENT TAX ON DAILY FANTASY SPORTS
SB 1131 currently stalled at committee stage.
A daily fantasy sports regulatory bill currently stalled in the Missouri state Senate proposes a hefty 21 percent tax rate on revenues - the same rate applied to gambling operators in the state.
Senator Scott Sifton's SB 1131 is currently stalled in the Senate Progress and Development Committee after a hearing scheduled for March 9 was cancelled.
The bill imposes an age limit of 21 years for fantasy sports players.
In related news, Minnesota lawmakers debated a fantasy sports bill Tuesday during a House committee hearing on a proposal by Representative Tim Sanders that would declare fantasy games are not gambling and are therefore legal in Minnesota.
Currently, Minnesota law does not specifically address fantasy sports, a situation Sanders is seeking to remedy with a measure that declares fantasy sports games are contests predominantly of skill, allowing DFS operators to be active in the state without having to register or pay gambling taxes.
However, Sanders has encountered opposition, with some lawmakers claiming that his bill does not go far enough to protect consumers, and that operators should be required to register, be independently audited and undergo stringent background checks.
Whilst Sanders does not agree with these suggested amendments, he was prepared to insert a requirement that DFS players be at least 18 years old, that DFS employees should not take part in contests, and that contests involving high school or college sports are out of bounds.
Sanders said his bill makes no distinction between seasonal fantasy sites and daily fantasy sites and that, ultimately, there’s no difference between the two and neither are gambling.
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