This bill proposes an amendment to the West Virginia Lottery Sports Wagering Act, specifically modifying the percentage amount for the privilege tax imposed on sports wagering operators. The current tax rate of ten is increased to 25 percent of the licensee's adjusted gross sports wagering receipts. 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. Additionally, the bill clarifies that the privilege tax is in lieu of other state and local taxes, with the exception of ad valorem property tax. It also stipulates that no credits can be applied against the privilege tax for investments in gaming equipment or improvements to real property used in sports wagering operations. The legislation aims to enhance the state's revenue from sports wagering by increasing the tax rate while maintaining a structured reporting and payment process for operators.

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