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On Monday, the DFS bill sailed through a committee of the Assembly Tourism, Gaming and the Arts Committee by a majority of 7-0.
The bill established guidelines and a tax rate for companies that operate such games in the Garden State.
The proposed legislation sets out rules to charge DFS companies a fee of 10.5% on gross revenue in order to legally operate in the US state.
The previous legislation that began making movements last year was slightly different, imposing only a 9.25% tax rate on companies’ gross revenue.
New Jersey’s constitution does not allow the state Legislature to regulate “games of chance”. However, former Casino Control Commission Chairman,
Steven Perskie, argued that DFS contests are games of skill and thus should not be classed as gambling under the definition of the New Jersey Constitution.
SOURCE- FULL STORY
The bill established guidelines and a tax rate for companies that operate such games in the Garden State.
The proposed legislation sets out rules to charge DFS companies a fee of 10.5% on gross revenue in order to legally operate in the US state.
The previous legislation that began making movements last year was slightly different, imposing only a 9.25% tax rate on companies’ gross revenue.
New Jersey’s constitution does not allow the state Legislature to regulate “games of chance”. However, former Casino Control Commission Chairman,
Steven Perskie, argued that DFS contests are games of skill and thus should not be classed as gambling under the definition of the New Jersey Constitution.
SOURCE- FULL STORY
