Fantasy Sports. 10.5% gross tax proposal in Garden State.

New Jersey is considering fantasy sports legislation which would:

• impose a 10.5% tax on gross receipts
• Regulation by the Division of Consumer Affairs
• Requiring fantasy sports to have permits to operate
• Age minimum of 18 years
• consumer protections to protect fantasy sports participants from “being gamed” by fantasy sports operators
• Annual Revenue Projectsions: $1 million to $5 million

NJTV | Move to Regulate Fantasy Sports in New Jersey