North Carolina Senate Republicans propose doubling sports betting tax to 36%
North Carolina Senate Republicans proposed raising the sports betting tax from 18% to 36% in their two-year budget, with the change due to take effect on 1 October if Senate Bill 257 is approved. The state collected about $128 million in tax revenue during its first year of sports betting, according to the report. The proposal would also change how some proceeds are distributed to universities.
Operators could face a higher tax rate, while the proposal would also alter distributions from sports betting revenue.