Illinois General Assembly Approves Tax Increase
The Illinois General Assembly has passed a bill raising the State Tax split of the Illinois Video Gaming revenue by 1%. Starting 7/1/2024, the state will automatically increase the Tax split to 35%. Your split of the Net Terminal Income, after taxes, will remain 50/50.
| Administrative Share | State Tax (Local) | State Tax | Establishment Share | Terminal Operator Share | |
|---|---|---|---|---|---|
| Before 7/1/19 | 0.8513% | 5% | 25% | 34.57435% | 34.57435% |
| 7/1/19 – 6/30/20 | 0.8513% | 5% | 28% | 33.07435% | 33.07435% |
| 7/1/20 | 0.8513% | 5% | 29% | 32.57435% | 32.57435% |
| Current Split | 0.92% | 5% | 29% | 32.54% | 32.54% |
| Split as of 7/1/24 | 0.92% | 5% | 30% | 32.04% | 32.04% |
The Video Gaming Tax increase comes as a surprise to the industry, as well as J&J Gaming, as of last Thursday, May 23rd. The Illinois Gaming Machine Operators Association (IGMOA) attempted negotiations to compromise with the possibility of additional machines in establishments and the max wager increases to offset the tax increase. Governor Pritzker refused the proposal.
The IGMOA plans to advance legislation in the October veto session to attempt to secure concessions to assist the industry and reduce the impact of this surprise tax increase.
To show your continued support for small businesses and the gaming industry in Illinois, we strongly encourage our partnered J&J Gaming establishments to increase their participation in Support Main Street and the IGMOA to ensure our objections are heard in Springfield, as well as your State Representatives and Senator.
J&J Gaming strives to protect the future success of our partnered establishments, all while pushing the industry forward with integrity. Our commitment to maximizing your revenue through 24/7 service and marketing initiatives will continue to provide small businesses with the tools for success. J&J Gaming shows continued support for small businesses across North America, as well as Support Main Street and the IGMOA in their efforts.
At J&J Gaming, we strive to protect the future of our business and those of our partnered establishments, all while pushing the industry forward.
We appreciate your continued hard work and dedication to J&J. For more information on the tax increase, please contact your Manager.
With iGaming expansion still in discussion within the Illinois General Assembly, your support in voicing opposition is necessary for success!
Support the future of your Business when you click below to support the IGMOA and Support Main Street.
Comments are closed.
