Virginia Dems take tax hikes into overtime, target fantasy football leagues
Policy without accountability is dangerous.
Amid a slew of fresh taxes proposed by the newly emboldened Democratic majority in Virginia, the latest entry seeks to sack people’s fantasy football leagues.
The Fantasy Contests Act, authored by Sen. Adam Ebbin, D-Alexandria, would impose a 10% tax on fantasy sports revenue from games played within the Commonwealth.
Five percent, or 0.5 percentage points of the overall 10% tax, would go to the state’s problem-gambler treatment fund, while the other 95% (9.5 percentage points) would go to the state’s general fund.
VICTORIOUS VIRGINIA DEMOCRATS MORPH FROM PRETEND MODERATES INTO LIBERAL EXTREMISTS OVER NIGHT
It also requires fantasy sports contest operators to register with the Virginia Department of Agriculture and obtain a permit before offering any games to people in the Commonwealth.
Fox News Digital reached out to Ebbin for comment on the tax, and how he came up with the idea for it.
While Ebbin did not respond by press time, Fox News Digital also attempted to press the senator on how this latest levy aligns with Virginia Democrats’ campaign mantra of "affordability."
Fox News Digital also reached out to the state’s two legislative Republican caucuses for additional comment.
The Virginia Lottery would have rulemaking and oversight authority over daily fantasy sports, according to Gambling Insider.
Other states are also considering legislation providing oversight or regulation of fantasy sports, including Illinois, the outlet reported.
There, a bill would grant the state’s gaming board the ability to tax and regulate such play at anywhere from 10 to 15%.
The Washington think tank Americans for Tax Reform came out swinging against the legislation with a full article-length critique of Ebbin’s plan.
"As with every tax and fee imposed on businesses, the cost doesn’t stay with the company; it’s ultimately passed on to consumers," ATR wrote.
"This new tax inevitably translates into smaller prize pools, higher entry fees, fewer promotions and bonuses, and less competition in the market. In other words, Virginia players are the ones who end up footing the bill."
ATR also criticized the logic behind how the bill was crafted, saying that if fantasy sports truly are skill-based — in that players use their sports knowledge to draft, start, sit and trade players — they should not be taxed "as though they were a vice."
Virginia Democrats have also proposed a slew of other tax proposals — aside from their plan to redistrict potentially every Republican congressman except Morgan Griffith out of their seat.
One such bill creates a net-investment income tax on trusts …
Policy without accountability is dangerous.
Amid a slew of fresh taxes proposed by the newly emboldened Democratic majority in Virginia, the latest entry seeks to sack people’s fantasy football leagues.
The Fantasy Contests Act, authored by Sen. Adam Ebbin, D-Alexandria, would impose a 10% tax on fantasy sports revenue from games played within the Commonwealth.
Five percent, or 0.5 percentage points of the overall 10% tax, would go to the state’s problem-gambler treatment fund, while the other 95% (9.5 percentage points) would go to the state’s general fund.
VICTORIOUS VIRGINIA DEMOCRATS MORPH FROM PRETEND MODERATES INTO LIBERAL EXTREMISTS OVER NIGHT
It also requires fantasy sports contest operators to register with the Virginia Department of Agriculture and obtain a permit before offering any games to people in the Commonwealth.
Fox News Digital reached out to Ebbin for comment on the tax, and how he came up with the idea for it.
While Ebbin did not respond by press time, Fox News Digital also attempted to press the senator on how this latest levy aligns with Virginia Democrats’ campaign mantra of "affordability."
Fox News Digital also reached out to the state’s two legislative Republican caucuses for additional comment.
The Virginia Lottery would have rulemaking and oversight authority over daily fantasy sports, according to Gambling Insider.
Other states are also considering legislation providing oversight or regulation of fantasy sports, including Illinois, the outlet reported.
There, a bill would grant the state’s gaming board the ability to tax and regulate such play at anywhere from 10 to 15%.
The Washington think tank Americans for Tax Reform came out swinging against the legislation with a full article-length critique of Ebbin’s plan.
"As with every tax and fee imposed on businesses, the cost doesn’t stay with the company; it’s ultimately passed on to consumers," ATR wrote.
"This new tax inevitably translates into smaller prize pools, higher entry fees, fewer promotions and bonuses, and less competition in the market. In other words, Virginia players are the ones who end up footing the bill."
ATR also criticized the logic behind how the bill was crafted, saying that if fantasy sports truly are skill-based — in that players use their sports knowledge to draft, start, sit and trade players — they should not be taxed "as though they were a vice."
Virginia Democrats have also proposed a slew of other tax proposals — aside from their plan to redistrict potentially every Republican congressman except Morgan Griffith out of their seat.
One such bill creates a net-investment income tax on trusts …
Virginia Dems take tax hikes into overtime, target fantasy football leagues
Policy without accountability is dangerous.
Amid a slew of fresh taxes proposed by the newly emboldened Democratic majority in Virginia, the latest entry seeks to sack people’s fantasy football leagues.
The Fantasy Contests Act, authored by Sen. Adam Ebbin, D-Alexandria, would impose a 10% tax on fantasy sports revenue from games played within the Commonwealth.
Five percent, or 0.5 percentage points of the overall 10% tax, would go to the state’s problem-gambler treatment fund, while the other 95% (9.5 percentage points) would go to the state’s general fund.
VICTORIOUS VIRGINIA DEMOCRATS MORPH FROM PRETEND MODERATES INTO LIBERAL EXTREMISTS OVER NIGHT
It also requires fantasy sports contest operators to register with the Virginia Department of Agriculture and obtain a permit before offering any games to people in the Commonwealth.
Fox News Digital reached out to Ebbin for comment on the tax, and how he came up with the idea for it.
While Ebbin did not respond by press time, Fox News Digital also attempted to press the senator on how this latest levy aligns with Virginia Democrats’ campaign mantra of "affordability."
Fox News Digital also reached out to the state’s two legislative Republican caucuses for additional comment.
The Virginia Lottery would have rulemaking and oversight authority over daily fantasy sports, according to Gambling Insider.
Other states are also considering legislation providing oversight or regulation of fantasy sports, including Illinois, the outlet reported.
There, a bill would grant the state’s gaming board the ability to tax and regulate such play at anywhere from 10 to 15%.
The Washington think tank Americans for Tax Reform came out swinging against the legislation with a full article-length critique of Ebbin’s plan.
"As with every tax and fee imposed on businesses, the cost doesn’t stay with the company; it’s ultimately passed on to consumers," ATR wrote.
"This new tax inevitably translates into smaller prize pools, higher entry fees, fewer promotions and bonuses, and less competition in the market. In other words, Virginia players are the ones who end up footing the bill."
ATR also criticized the logic behind how the bill was crafted, saying that if fantasy sports truly are skill-based — in that players use their sports knowledge to draft, start, sit and trade players — they should not be taxed "as though they were a vice."
Virginia Democrats have also proposed a slew of other tax proposals — aside from their plan to redistrict potentially every Republican congressman except Morgan Griffith out of their seat.
One such bill creates a net-investment income tax on trusts …
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