Louisiana doing Louisiana things…MOAR taxes

I have zero sympathy for out of state gambling corporations that provide nothing for the state aside from taking stupid people's money.

We should have sympathy for the gambling industry?

I think you should be more worried about the tax increases he's putting on small businesses

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In addition, the bill aims to put a halt to operators offering promotional credits to players. Currently promotional play is permitted and credits can be deducted from Louisiana licensees’ tax calculations. Operators handed out $44.4 million in promo credits during the state’s 2023-24 fiscal year, ending 30 June 2024.

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I read an article about online sports gambling last week as it related to the vote in Missouri. Evidently the gambling companies have used the the promo credits to reduce their tax liabilities. When this is partnered with some bag of goods being sold to pass online sports gambling (funding education/tourism/whatever it is) then the actual tax income vs budgeted income for the state is much lower.

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We should have sympathy for the gambling industry?

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Sympathy? No

The state's answer to its budget issues is always "uhh lets tax the shite out of something else, spend it horribly (line our pockets), and then find something else the next go around."

Maybe just maybe get your house in order (reduce government bloat) before chasing away yet another industry from this state because your answer to the problem is tax the shite out of it until we bleed it dry.

I normally am sympathetic to the “don’t chase an industry away with high taxes” argument but is this industry actually giving anything to the people of Louisiana at all?

I assume there are minimal jobs, no new physical presence, and so on since this just an app being operated from elsewhere. All Louisiana stands to get is the tax revenue. Nevermind all the negative societal impacts of more gambling addicts

Louisiana tax reform is coming, there’s a pretty good draft bill out there right now. Who knows if it passes, but it would be a very good step for the state’s tax code.

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This election cycle said stop making it hard for a family to put milk, bread, and eggs on the table.

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A greedy billionaire will certainly fix these issues.

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wilceaux

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There's a board for those discussions. This board and thread is about sports/sports betting and taxes being increased on online betting platforms within the state. My comment was directed to the OP in regards to why taxing billion dollar non-essential platforms is not the same as people wanting reprieve from their everyday expenses.

If you want to get political with the discussion then proceed to the PT board or even OT as to why you believe the tax plans set forth from one party of millionaires is better than the tax plans by another set of millionaires. I would advise to provide more substance than "he's just a greedy billionaire" though because the posters on those boards will hurt your feelings by providing actual rhetoric and substance of their own to provide their own counterpoints to your argument. If you don't have the ability to meet that rhetoric with rebuttals more than "greedy billionaire" or don't have anything to add on Louisiana taxing online gambling platforms who operate within the state more because they are using "gifted bets" to circumvent the current tax code, then maybe just let your thoughts echo around that hat rack on your shoulders instead of posting it.

Essentially just a SIN tax

I'd take that over an across the board tax any day