Nebraska gaming taxes continue to climb

Gambling enthusiasts and Nebraska’s tax authority have something to celebrate as gaming tax revenues continue to rise. This year’s figures, which covered the period from July 2019 to June 2020, show a steady increase of 4.6% compared to the previous year. These taxes are paid by casinos and racetracks that offer electronic games of luck and skill that simulate traditional casino games.

Last year, Nebraska collected $23.5 million from gaming taxes, which is $1 million more than the previous year. The collected taxes go towards the state’s general fund, a fund that is allocated for various projects such as public safety, education, and infrastructure improvements.

According to the Nebraska Gaming Commission, the gains could be attributed to keeping the tax rate low and maintaining the same number of gaming establishments. The commission also noted that the state’s demographic shifts may have played a role in the increase, as more millennials and baby boomers seem to be involved in electronic gaming.

This increase in revenue is vital for the state’s finances, especially in the midst of a pandemic where resources are limited. In a time of economic uncertainty, it’s reassuring to see that this industry is thriving and contributing to the state’s future.

Overall, the growth in Nebraska gaming tax is an excellent indicator of a healthy industry and an improved financial outlook. It’s great to know that even in these tumultuous times, the tax revenue continues to provide much-needed funds for the state. As the state’s gaming industry continues to rise, we can expect to see even more significant gains in the years to come.