Virginia lawmakers propose tax and fees for paid fantasy sports
Virginia lawmakers introduced House Bill 145 and Senate Bill 129 to establish a proposed Fantasy Contests Act. The bills would impose a 10% monthly tax on proceeds from paid fantasy contests, alongside a three-year permit with a $50,000 application fee and a $50,000 payment to a gambling-treatment fund. Industry representatives warned the added costs could push some businesses to leave the state.
The proposal would add a tax, licensing costs and a treatment-fund payment for paid fantasy operators in Virginia.