Pennsylvania Gambling Tax Revenue
July 2019 August 2019 September 2019 November 2019 December 2019 January 2020 February 2020 March 2020 May 2020 June 2020 FYTD Grand Total Wagers $206,721,546.20.
- According to the Pennsylvania Gaming Control Board, the casinos collectively employ more than 16,000 people and generate more than $1.4 billion in tax revenue from slot machines and table games play.
- Mar 31, 2020 In February, Pennsylvania received $67.9 million in taxes from $199.7 million in revenue the slots generated at the 12 land-based casinos. Local governments shared an additional $3.9 million.
Figures collected by PlayPennsylvania.com show that the legalization of sports betting and online gambling has already generated more than $395.8 million for the state.
That money hasn’t come from extra gaming taxes — at least not yet.
So far, only three casinos have launched sports betting and none have launched online gaming.
PA casinos licensing and other revenues
It is the total of all the upfront fees paid by licensed casinos under the new laws. The casinos have paid fees for:
- Permission to operate new mini-casinos — up to $50 million for a single license, $128 million in total
- Licensing fees for online gaming — $4 million per license or $10 million for a package of three, $94 million in total
- Licensing fees for live and online Pennsylvania sports betting— at $10 million per license, six licenses granted, $60 million total
- Casino licensing — a total of $78 million
On top of these license fees, the PA online lottery has offered new games and daily fantasy sports (DFS) has generated new revenues:
- $23 million in revenue from online lotto games ($19.6 million), keno ($3.6 million), and virtual sports ($87,000) to the end of October
- $1.4 million from DFS
Jessica Welman, an analyst for PlayPennsylvania.com, commented:
“If the point of the expansion was to fill short-term gaps in the state’s budget, then the expansion would have to be considered a success so far.
Above all, she cautioned that this early revenue boost might not indicate long-term success:
“We believe that the gambling expansion will eventually prove to be a winner for the state’s budget, but the long-term picture is less certain. More casinos and sportsbooks must open before we get a clear picture of whether Pennsylvania’s relatively steep tax rates and license fees will produce the desired outcome.”
Early success, but cautious optimism for the future
Pennsylvania passed its new gaming laws at the end of October 2017. In May 2018, the USSupreme Courtoverturned the Professional and Amateur Sports Protection Actto allow state-regulated sports betting.
Pennsylvania immediately jumped in to add sports betting to its legal gambling regime.
Most noteworthy, the two things Pennsylvania needs to get a significant long-term tax revenue stream are:
- Existing bettors to switch from black market offshore sites
- New customers to start wagering at casinos and online sites
Therefore, the new gambling laws must create successful casino business that has the revenues to pay a lot of taxes.
High tax rates are the biggest risk to this outcome. Pennsylvania charges 36 percent taxes on sports betting and 54 percent on online slots.
Such high rates might make the legal market non-competitive with the black market.
New Jersey is making better than expected revenues from its newly legalized sports betting market, but it has the benefit of much lower taxes.
New Jersey operators pay 9.75 percent on live sports betting revenues and 13 percent for online revenues.
Even more, at 17.5 percent, New Jersey online slots taxes are less than a third of Pennsylvania’s rates.
It is an open question as to whether Pennsylvania can match New Jersey’s success.
Dustin Gouker, the lead sports betting analyst for PlayPennsylvania, takes a positive view:
“The addition of retail sports betting should help buoy a slowing Pennsylvania casino industry. If New Jersey is any indication, though, the more significant revenue generator will be online sports betting. A successful rollout there should generate millions of dollars in tax revenue for the state.”
PlayPennsylvania produces detailed gaming revenue figures
PlayPennsylvania prepares revenue figures from a combination of official statistics and estimates based on iLottery, keno and virtual sports sales numbers.
The detailed numbers are available here.
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More about the Pennsylvania Form PA-40 TIndividual Income TaxTY 2019
We last updated the PA Schedule T - Gambling and Lottery Winnings in January 2020,so this is the latest version of Form PA-40 T, fully updated for tax year 2019. You can download or print current or past-year PDFs of Form PA-40 T directly from TaxFormFinder.You can print other Pennsylvania tax forms here.
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File Now with TurboTaxRelated Pennsylvania Individual Income Tax Forms:
TaxFormFinder has an additional 174 Pennsylvania income tax forms that you may need, plus all federal income tax forms.These related forms may also be needed with the Pennsylvania Form PA-40 T.
| Form Code | Form Name |
|---|---|
| Form PA-40 | Pennsylvania Income Tax ReturnTax Return |
| Form PA-40 PA-V | PA-40 Payment VoucherVoucher |
| Form PA-40 W-2S | PA Schedule W-2S - Wage Statement Summary |
| PA-40 | Income Tax Return Tax Return |
| Form PA-40 A | PA Schedule A - Interest Income |
| Form PA-40 SP | PA Schedule SP - Special Tax Forgiveness |
| Form PA-40 B | PA Schedule B - Dividend Income |
| Form PA-40 UE | PA Schedule UE - Allowable Employee Business Expenses |
| Form PA-40 C | PA Schedule C - Profit or Loss From Business or Profession |
| Form PA-40 ESR-I | Declaration of Estimated TaxEstimated |
Form Sources:
Pennsylvania usually releases forms for the current tax year between January and April.We last updated Pennsylvania Form PA-40 T from the Department of Revenue in January 2020.
- Original Form PDF is https://www.revenue.pa.gov/FormsandPublications/FormsforIndividuals/PIT/Documents/2019/2019_pa-40t.pdf
- Pennsylvania Income Tax Forms at http://www.revenue.pa.gov/FormsandPublications/FormsforIndividuals/PIT/Pages/default.aspx
- Pennsylvania Department of Revenue at http://www.revenue.state.pa.us/
About the Individual Income Tax
The IRS and most states collect a personal income tax, which is paid throughout the year via tax withholding or estimated income tax payments.
Most taxpayers are required to file a yearly income tax return in April to both the Internal Revenue Service and their state's revenue department, which will result in either a tax refund of excess withheld income or a tax payment if the withholding does not cover the taxpayer's entire liability. Every taxpayer's situation is different - please consult a CPA or licensed tax preparer to ensure that you are filing the correct tax forms!
Historical Past-Year Versions of Pennsylvania Form PA-40 T
We have a total of six past-year versions of Form PA-40 T in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:
2019 Form PA-40 T2019 PA Schedule T - Gambling and Lottery Winnings (PA-40 T)
2018 Form PA-40 T2018 PA Schedule T - Gambling and Lottery Winnings (PA-40 T)
2017 Form PA-40 TPennsylvania Gambling Tax Revenue Forms
2017 PA Schedule T - Gambling and Lottery Winnings (PA-40 T)
2016 Form PA-40 T2016 PA Schedule T - Gambling and Lottery Winnings (PA-40 T)
2015 Form PA-40 T2015 PA Schedule T - Gambling and Lottery Winnings (PA-40 T)
2014Pennsylvania Gambling Tax Revenue Statute Of Limitations
Form PA-40 TPennsylvania Gambling Tax Revenue Reporting
2014 PA Schedule T - Gambling and Lottery Winnings (PA-40 T)
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