Senators Sam Singh and Jeremy Moss have proposed bills that slightly modifies how sports betting and igaming operators are taxed in Michigan. A separate bill for for each vertical introduced last week slightly increases taxes.
Michigan sportsbooks are allowed to deduct promo spend from gross revenue before taxes are applied. Michigan online casinos can do the same up to a certain point. Both verticals, but especially sports betting, makes the Great Lakes State a tax-friendly market.
The bills propose a hike of one percentage point to online casino revenue, while the increase for sports betting would be one-tenth as large. They also slightly adjust the allocation of the taxes, which goes to the Internet Gaming Fund, Detroit services and the agricultural fund.
