Discriminatory Gaming Tax Repeal Act of 2023
Source: Congress.gov ·
226 words in original text
What This Bill Does
This bill removes federal excise taxes on wagering. Excise taxes are special taxes placed on specific goods or activities. The bill would eliminate these taxes that currently apply to betting activities.
Who It Affects
Not specified in bill text
Key Provisions
• Chapter 35 of the Internal Revenue Code of 1986 (which contains taxes on wagering) is repealed, meaning it is completely removed and no longer applies (Sec. 2(a))
What Changes
Federal excise taxes on wagering would no longer exist if this bill becomes law.
Important Definitions
None defined
Effective Date
The changes apply to taxable years beginning after December 31, 2022 (Sec. 2(b))
Important: This plain English summary was generated by AI and is provided for informational purposes only.
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