Michigan Tax Rate Increase On Online Sports Betting and iGaming Mentioned in Budget Talks
Ongoing budget negotiations regarding a road funding plan continues in Michigan. One of the options that is being mentioned to generate new revenue for funding is to raise the tax rate on online sports betting and iGaming.
The House Speaker (Republican) and the Governor (Democrat) want road funding included in the overall budget, while the Senate Majority Leader (Democrat) doesn’t entirely share this view.
For now tax rate increases on online gambling are just talk, and likely a result of this major push for road funding and eagerness to finalize the budget.
Michigan’s fiscal year starts October 1, so if a budget isn’t in place by that date, there will be a government shutdown. iDEA will continue to monitor and engage with lawmakers on the tax issue.