Bill to tax gambling winnings filed in legislature
LITTLE ROCK, Ark. (KAIT) - It may cost a little more to visit Arkansas casinos, especially if you win, under a bill filed Thursday in the legislature.
The bill, HB1703, would require that casinos report gambling winnings to the Secretary of the Department of Finance and Administration and withhold Arkansas state income tax on the winnings.
Under the bill, sponsored by Rep. Jack Fortner (R-Yellville) and Sen. Bill Sample (R-Hot Springs), the winnings would be taxed at 5.9% or “the highest income tax rate imposed on individual taxpayers” under the state’s income tax law.
Also, DFA would be required to provide a method for casinos to report and pay the taxes to the state treasury.
The bill has been assigned to the House Rules Committee.
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