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Tuesday, nov 5
Tag:
Casino taxation
News
What Newly Signed Tax Bill Means For Atlantic City Casinos
State legislation giving tax breaks to Atlantic City casinos was signed into law by Gov. Phil Murphy on Tuesday night. The bill does not affect state taxes that casinos must pay on internet gambling, online sports betting revenue or in-person casino gambling. Those taxes range from 9 to 15 percent annually. Outgoing state Senate President Stephen Sweeney, a Democrat from Gloucester who sponsored the bill, said up to four of the city’s nine casinos might close without the new legislation, NJ Advance Media reported. But critics said the casinos have enjoyed higher revenues due to sport…
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