SEARCH NEWS:

 

Indiana Lawmakers Eye Casino Taxes

INDIANAPOLIS, Indiana – As reported by the Kentucky Courier-Journal: "As lawmakers seemingly turn away from a plan that would take millions of dollars from riverboat communities to balance the state budget, fiscal leaders are eyeing increased taxes on casinos.

"Already, House Ways and Means Chairman Jeff Espich, R-Uniondale, has proposed a tax increase on the casinos that earn the most to fund a stadium for the Indianapolis Colts. That plan has since been supplanted by a different stadium package.

"…The state has 10 casinos -- five on the Ohio River and five in Lake Michigan -- plus another planned for Orange County.

"Together, they generate about $750 million annually in admissions and wagering tax revenue, with less than one-third of that going to local governments and the rest to the state. In fact, gambling is projected soon to become the state's third-largest source of revenue, displacing corporate income taxes.

"…Last week, Espich said lawmakers might again consider an increase in the top casino rate or in all the rates throughout the scale. The state could also change the categories within the graduated tax system so that casinos start paying higher rates sooner…"

< Gaming News