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Can you summarize MGL Chapter 23N, Section 14?
AUTHORIZATION AND REGULATION OF SPORTS WAGERING > Excise imposed upon sports wagering operators
Short Summary
This section of the Massachusetts General Law imposes an excise on sports wagering operators in the commonwealth. The excise rates vary depending on the type of sports wagering operation. For in-person sports wagering, the excise is 15% of the operator’s adjusted gross sports wagering receipts. For sports wagering through mobile applications and other digital platforms approved by the commission, the excise is 20% of the operator’s adjusted gross sports wagering receipts. Additionally, a 15% excise is imposed on the adjusted gross fantasy wagering receipts of a person or entity that offers fantasy contests. The excise must be paid to the commission using the accrual method of accounting. The excise is due and payable in monthly installments, with returns filed electronically providing details of the gross sports wagering receipts, adjusted gross sports wagering receipts, gross fantasy wagering receipts, adjusted gross fantasy wagering receipts, and the tax amount owed. The excise amount is remitted by electronic funds transfer along with the filing of the return. Negative adjusted gross sports wagering receipts can be carried over to subsequent months, but not to earlier months, and refunds are only provided if the operator surrenders its license and the last return reported negative adjusted gross sports wagering receipts. The excise on adjusted gross sports wagering receipts is in lieu of all other state and local taxes and fees on sports wagering operations. The commission is required to publish an annual report on its website, stating the amount of fees, surcharges, civil penalties, and taxes received from operators and entities offering fantasy contests.
Whom does it apply to?
Sports wagering operators in the commonwealth
What does it govern?
Excise imposed upon sports wagering operators
What are exemptions?
No exemptions are mentioned.
What are the Penalties?
Not specified.
Jurisdiction
Massachusetts