Have you ever wagered on sports or participated in daily fantasy sports? If you answer yes, you may have paid an obscure and little-known federal excise tax on sports betting. This month, Rep. Dina Titus (D-NV) and Rep. Guy Reschenthaler (R-PA) have reintroduced legislation, H.R. 2350, to repeal this tax. When the tax was introduced […]
Table of Contents Key Points: In 2019, excise taxes accounted for less than 3 percent of total federal tax collections while state excise taxes on tobacco, alcohol, and motor fuel accounted for about 7 percent of total state tax revenue Taxes levied on a transaction or good that creates a negative externality or additional costs […]
We’re about to launch a free six-week course in state taxation, and we’d like you to join us. This coming Tuesday, February 16th, the Tax Foundation will kick off its “State Tax Policy Boot Camp,” designed with lawmakers and legislative staff in mind, but ideal for anyone interested in gaining a better understanding of state […]
The potential override of Gov. Larry Hogan’s (R) veto of a digital advertising tax (HB732) looms large over the current legislative session in Maryland, though it is only one of many tax proposals under consideration in the state. House Bill 732 passed with a veto-proof majority in 2020, and, if lawmakers override the governor’s veto, […]
Although this week’s Super Bowl festivities may be muted, with far fewer parties and celebrations, states with legalized sports betting may have something to cheer: a tax revenue bump thanks to the accompanying excise taxes. The American Gaming Association estimates that Americans will wager a total of $4.3 billion on the highly anticipated matchup of […]
Was this page helpful to you? Thank You! The Tax Foundation works hard to provide insightful tax policy analysis. Our work depends on support from members of the public like you. Would you consider contributing to our work? Contribute to the Tax Foundation Share This Article! Let us know how we can better serve you! […]