The elimination of a casino income tax in Pennsylvania is placing their state in a bind that is fiscal. With the 2017 session of the General Assembly closing this week, lawmakers must find at least a quick fix to the revenue woes they’ve understood about since last fall, whenever the state Supreme Court ruled elements of the present casino tax structure were unconstitutional.
Pennsylvania counties risk losing $120 million from the casino tax which has been announced unconstitutional. Gov. Tom Wolf wants a bill on his desk ASAP to treat budget troubles ensuing from the continuing state Supreme Court ruling.
As soon as the continuing state legalized some types of casino gambling in 2006, they did so utilizing the vow that each casino would pay 2 per cent of gross slot revenues towards the townships where they’re found.
That share was to encourage communities to welcome new casino construction, and assist offset additional costs associated with having a gambling venue inside their backyard. If any casinos did not satisfy a $10 million minimum, however, it ended up being on it to make the difference up. Which is where the slot machine minimum tax created problem for the courts.
In 2015, the Mount Airy Casino and Resort in the Poconos protested, when 2 % of these slot revenues amounted to just about $2.8 million, leaving them $7.2 million short.
The Supreme Court ruled in September 20 Continue reading “Pennsylvania Casino Tax Deadline Looms, as State Scrambles for Revenue Solution”