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Can you summarize NJAC 13:69L-1.1?
GROSS REVENUE TAX; INTERNET GAMING GROSS REVENUE TAX; TAXES ON SPORTS WAGERING > Description of taxes
Short Summary
This legal document governs the taxation of various types of gross revenue in New Jersey. It imposes an annual tax of 8% on gross revenue, as defined in section 24 of the Act. Additionally, it imposes an annual tax of 15% on gross revenue from Internet gaming, as defined in section 28.2 of the Act. Gross revenue from casino sports pool operations, including mobile operations, is subject to an 8.5% annual tax, with an additional 1.25% tax remitted for marketing and promotion of the City of Atlantic City. Similarly, gross revenue from casino online sports pool operations is subject to a 13% annual tax, with an additional 1.25% tax for marketing and promotion. Gross revenue from racetrack sports wagering operations, including mobile operations, is subject to an 8.5% annual tax, with an additional 1.25% tax paid to the Department of the Treasury. Finally, gross revenue from racetrack online sports wagering operations is subject to a 13% annual tax, with an additional 1.25% tax paid to the Department of the Treasury. No exemptions or penalties are mentioned in this document.
Whom does it apply to?
Entities involved in gross revenue activities, including casinos, racetracks, and online gaming platforms
What does it govern?
Taxes on gross revenue, including gross revenue from Internet gaming, casino sports pool operations, casino online sports pool operations, racetrack sports wagering operations, and racetrack online sports wagering operations
What are exemptions?
No exemptions are mentioned.
What are the Penalties?
No penalties are mentioned.
Jurisdiction
New Jersey