Minnesota iGaming Bill Passed With Significant Tax Amendments
March 15, 2024
On March 14, SF 1949 had a hearing in the Senate Committee on Taxes. It passed the bill, with some amendments.
A couple of the key amendments include:
- Raising the tax rate from 10% to 20%
- A phase-out for promotional play deductions that begins with a 100% deductible before Jan. 1, 2028 and reduces it by 25% every year until no deductions are allowed after Dec. 31, 2030.
The bill now moves to the Senate Finance Committee. The Finance Committee chair has indicated that he is opposed to gaming expansion.