Sharing Slot Profits With The State
A new gambling agreement with an Indian tribe will funnel up to 5% of gambling revenue directly to the state.
"The Torres-Martinez tribe has federal approval to put slot machines in an Imperial County truck stop along Highway 86 and is seeking land for a casino along Interstate 10 in Riverside County. It agreed to initially pay the state 3% of the revenue... California tribes don't pay state or federal taxes on their casino revenue, estimated by many experts to be $5 billion a year. Some states require tribes to pay a portion of their revenue to the state treasury. Connecticut collects 25% from its two tribes, for example."
Thanks to Chris Steins
Full Story:
Published on Thursday, August 14, 2003 in
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