The proposed sports betting tax increase in Ohio has been dropped from the state budget.
Earlier this year Ohio Governor Mike DeWine included doubling the sports betting tax rate from 20% to 40% in his proposed budget. If passed this would have been the second time the tax rate was doubled following the tax rate going from 10% to 20% in 2023.
Lawmakers did not agree with DeWine’s second attempt to double the tax rate as they removed it from the budget before passing the amended budget by a vote of 60-39.
This was expected after Brian Stewart, chair of the House Finance Committee said last month, “It’s very unlikely we include tax increases in this budget.”
While Ohio has dropped the proposed tax rate increases, they remain on the docket in other states. Earlier this week North Carolina became the latest state to include a sports betting in their budget proposals.
The North Carolina Senate released their two-year budget proposal which included doubling the state’s sports betting tax rate from 18% to 36%. This isn’t set in stone however, as the House budget proposal has yet to be released.
A proposed tax rate increase in Maryland also failed to pass, while decisions on proposed tax rate increases are still undecided in New Jersey, Indiana, and Michigan.
