§ 13C62 — Sports wagering tax

Pennsylvania § 13C62

• Jurisdiction: Pennsylvania
• Title 4: AMUSEMENTS
• Part: PART II
• Ch. 13C: SPORTS WAGERING
• Subch.: SPORTS WAGERING TAXES AND FEES

Text

(a) Imposition.--Each sports wagering certificate holder shall report to the department and pay from its daily gross sports wagering revenue, on a form and in the manner prescribed by the department, a tax of 34% of its daily gross sports wagering revenue.

(b) Deposits and distributions.--

(1) The tax imposed under subsection (a) shall be payable to the department on a weekly basis and shall be based upon gross sports wagering revenue derived during the previous week.

(2) All funds owed to the Commonwealth under this section shall be held in trust for the Commonwealth by the sports wagering certificate holder until the funds are paid to the department. A sports wagering certificate holder shall establish a separate bank account into which gross sports wagering revenue shall be deposited and maintained until such time as the funds are paid to the department under this section or paid into the fund under section 13C63(a) (relating to local share assessment).

(3) The tax imposed under subsection (a) shall be deposited into the General Fund.

Legislative History

Cross References.Section 13C62 is referred to in sections 13C63, 13C64 of this title.