New Federal Legislation Defining Games Of Chance Also Seeks To Abolish The IRSKansas Congressman Aims To Define And Tax Games |
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A Republican Senator from Kansas has introduced a new bill that would define games of chance and impose a 23-percent tax on companies offering them.
ESPN reported that the legislation in its preliminary form, which comes from Sen. Jerry Moran, is being called the “Fair Tax Act of 2017.” The broad 132 page bill includes “abolishing” the Internal Revenue Service and establishing special tax treatment for gaming operators.
Under the bill, chance games would be defined as “an event over which neither the gaming sponsor nor the person purchasing the chance has control over the outcome.”
Tax paid to the federal government would be on the money retained after paying out winning wagers and after paying applicable gaming taxes to state or local governments.
It’s unclear if the bill would affect daily fantasy sports or regulated online poker sites, as well as brick-and-mortar sports betting in Nevada. Poker is widely considered a game of skill, and a federal court found that to be the case in 2012.
Moran’s legislation is apparently separate from forthcoming sports betting legislation from New Jersey Congressman Frank Pallone, a Democrat. Pallone’s bill would also address the Wire Act and UIGEA, two laws affecting gaming over the internet.
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