HB 4398
Relating to privilege tax on holding a license to operate sports wagering
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- Passed House of Delegates
- Passed Senate
- To Governor
- Became Law
Bill overview
This bill modifies the privilege tax on sports wagering licenses in West Virginia. It increases the tax rate to 25% of a licensee’s adjusted gross sports wagering receipts. Licensed operators must submit weekly reports detailing their revenue and tax liability electronically. The tax is in lieu of other state and local taxes on sports wagering, with exceptions for certain sales and use taxes. The bill also clarifies rules regarding negative adjusted gross receipts and allows recoupment for facility modernization improvements.
Key provisions
- Increases the privilege tax rate to 25% of adjusted gross sports wagering receipts.
- Requires weekly electronic reporting of revenue and tax liability to the commission.
- States that the privilege tax replaces other state and local taxes on sports wagering, with exceptions.
- Allows for the carryover of negative adjusted gross receipts to subsequent weeks.
- Provides for recoupment of facility modernization improvements.
- Prohibits credits for investments in gaming equipment or property improvements.
Who is affected
- Sports wagering licensees in West Virginia
- The West Virginia Lottery Commission
- Gambling operators
- Taxpayers
Notable changes
- The privilege tax rate is increased from the previous rate.
- The requirement for weekly electronic reporting was added.
- The bill clarifies that the privilege tax is in lieu of other taxes, with specific exceptions.
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