New Jersey gambling houses will pay less taxes

The New Jersey Legislature passed a law on tax breaks for gambling operators after the coronavirus pandemic. According to the decision, casinos are partially exempt from tax on investments in advertising campaigns for two years. In addition, gambling houses will be provided with a tax rebate on gambling income in 2021. The law is needed because the catastrophic and unprecedented economic downturn caused by the COVID-19 pandemic has dealt a devastating blow to the economy of the Atlantic City gambling zone and nearby regions, led to massive layoffs and disruption in the gambling industry, the consequences of which will be long-lasting, New York lawmakers explained. Jersey. They stressed that the state must take steps to ensure the continued viability of Atlantic City and to help the population of the gambling zone solve economic and financial problems. The bill has been sent to Gov. Phil Murphy for signature. My Lucky Story wrote that New York State and New York City authorities have decided to freeze plans to build new casinos in the metropolis. As reported, thanks to the legalization of betting in Arizona, the first legal sports betting in this state will be possible in September 2021. Recall that mobile betting was legalized in the aforementioned state of New York.