This bill amends existing laws regarding the taxation of Internet gaming and fantasy sports activities in New Jersey. It establishes an annual tax of 19.75 percent on Internet gaming gross revenues, which will be directed to the Casino Revenue Fund. Additionally, it specifies that the 8 percent tax on casino gross revenues will not apply to Internet gaming revenues. The bill also modifies the taxation structure for sports wagering, imposing a 19.75 percent tax on sums received from Internet wagering on sports events, along with an additional 1.25 percent tax for marketing and promotion efforts in Atlantic City.

Furthermore, the bill outlines definitions and regulations for fantasy sports activities, including the requirement for operators to obtain a permit from the Division of Consumer Affairs. It mandates that fantasy sports operators pay a quarterly operations fee of 19.75 percent of their gross revenue to the state. The bill also includes provisions for penalties for unauthorized operation of fantasy sports activities and tampering with gaming equipment. The act is set to take effect on July 1, 2025.

Statutes affected:
Introduced: 5:12-95.19, 5:12A-16, 5:20-2
Advance Law: 5:12-95.19, 5:12A-16, 5:20-2
Pamphlet Law: 5:12-95.19, 5:12A-16, 5:20-2