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Can you summarize CORS 44-30-1508?
SPORTS BETTING > Sports betting tax - rules.
Short Summary
This legal document imposes a tax on sports betting activity at a rate of ten percent of net sports betting proceeds. The tax is collected in a form and manner established by the commission. All proceeds of the sports betting tax are forwarded to the state treasurer and credited to the sports betting fund. This document was added to the Colorado Revised Statutes through HB 19-1327 and took effect on May 1, 2020, following the approval of proposition DD by voters in the November 2019 statewide election.
Whom does it apply to?
Entities engaged in sports betting activity
What does it govern?
Sports betting tax
What are exemptions?
No exemptions are mentioned.
What are the Penalties?
Not specified.
Jurisdiction
Colorado