Dining Table game income at Pennsylvania casinos will be taxed two soon % higher, and the rise will most greatly affect the Sands Casino Resort in Bethlehem.
Pennsylvania casinos will begin paying higher soon taxes on revenues generated at their tables. Lawmakers in Harrisburg continue to look for new sources of income to bridge a $1 billion spending plan gap in the state’s spending plan for the upcoming year that is fiscal and gambling is enemy #1.
The Republican-controlled legislature recently approved increasing fees on casino table games from 14 to 16 per cent, a seemingly modest hike that in reality can pay significant dividends. Based on calculations, the state stands to receive an additional $17 million annually from the 2 % bump.
The 16 percent income tax rate switches into effect next week.
‘This one kind of came out of nowhere,’ Sands Casino Resort Bethlehem CEO Mark Juliano told The Morning get in touch with Allentown. ‘We’re not happy about. Pennsylvania is already the highest tax environment for casinos, but we’ll deal along with it.’
Feet in the Sands
The tax increase on Pennsylvania casinos will impact that is most the Sands Bethlehem resort. Owned by billionaire Sheldon Adelson, one of Donald Trump’s biggest financiers within the 2016 election that is presidential Adelson’s venue is the most profitable casino into the Keystone State.
Through June 30, 2016, Sand (more…)