Lawmakers Debate Taxing Fantasy Sports In New England
BOSTON (AP) — A public hearing is set for a proposal that would regulate and tax daily fantasy sports operators in Massachusetts.
The bill would impose a 15 percent tax on the gross revenue of companies, such as Boston-based DraftKings, that offer the online contests. Players compete for cash prizes by picking teams of real-life athletes.
Another provision that would charge fantasy sports operators registration fees of up to $100,000 to enter the Massachusetts market has raised concerns with an industry trade group.
A legislative committee will hear testimony on the bill Wednesday.
The measure gives the Massachusetts Gaming Commission, an agency that oversees casino gambling, regulatory oversight of fantasy sports.
The Legislature needs to act by July 31. That's when temporary authority allowing daily fantasy sports to operate in the state expires.