Tennessee is a vote away from sending to the Governor a bill to significantly change the way sports wagering companies are taxed in the state. Under the bill, sports wagering companies would no longer be taxed on gross gaming revenues and instead would be taxed on handle. The House approved a 1.85% tax rate on handle, while the Senate approved a 2% rate; these will need to be reconciled.
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Just Steps Away from Tennessee Adopting a Different Taxing Methodology for Sports Wagering
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A bill to change Tennessee’s sports betting effective tax rate has passed through the Senate and the House, but it will need to stop back through the Senate before heading to Gov. Bill Lee’s desk for signature.
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