This bill proposes an amendment to the West Virginia Lottery Interactive Wagering Act, specifically modifying the percentage amount for the privilege tax imposed on licensees operating interactive wagering. The current tax rate of 15 percent on adjusted gross interactive wagering receipts will be increased to 25 percent. This change aims to enhance the state's revenue from interactive wagering activities.

Additionally, the bill outlines the procedures for tax reporting and payment, requiring licensed operators to submit weekly reports detailing their gross and adjusted gross receipts, along with the corresponding tax amount owed. It clarifies that the privilege tax is in lieu of other state and local taxes, with exceptions for ad valorem property tax. Furthermore, it establishes that investments in gaming equipment or improvements to real property used for interactive wagering will not qualify for tax credits against the privilege tax.

Statutes affected:
Introduced Version: 29-22E-16