July 16, 2020

Fantasy sports tax bill passed in Louisiana

Fantasy sports tax bill passed in Louisiana

The state of Louisiana finally passed a fantasy sports tax bill, over 18 months after 47 of the state’s parishes approved the game. Governor John Bel Edwards signed Representative John Stefanki’s bill which was introduced in a special session of the state’s legislature.

The bill, 8564, sets an 8% tax on revenue on paid fantasy sports, which must be paid monthly. The funds generated will go to the Louisiana Early Childhood Education Fund. The Legislative Office’s fiscal note for the bill predicts that the bill will generate around $375,000 in tax.

The bill passed the House by an 82-11 vote on June 17 before it gained unanimous approval in the Senate, sending it to Edward’s desk, where it became law on July 13.

The passage of the bill follows HB357—creating rules for paid fantasy sports games—which received Edward’s signature on June 9.

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