NYGC Releases Tax Criteria for Bidders + Statement
October 21, 2021
This week, the NYGC released a tax matrix that provides tax rates (ranging from 35% to 64%) depending on number of operators in the market. Bidders are expected to revise their bids to meet this tax criteria. A statement from the NYGC can be accessed here.
We understand that decisions about winning bids could be made in the coming weeks, ahead of the December statutory deadline.
Still many outstanding regulatory issues (such as server locations, operations requirements, etc.) that have yet to be resolved. So even if awards are given soon, we anticipate several months before operations could be live in New York.