Massachusetts to hold public hearing for tax regulation proposal in fantasy sports operators

Massachusetts

Mass. (WWLP) – A public hearing is set for a proposal that would regulate and tax daily fantasy sports operators in Massachusetts.

The bill would impose a 15 percent tax on the gross revenue and charge a $100,000 registration fee from companies such as Boston-based Draft Kings and FanDuel.

A legislative committee will hear testimony on the bill this Wednesday.

One South Hadley resident hopes companies like DraftKings will be able to stay in Massachusetts. “I always play fantasy sports with my friends but with Draft Kings and Fan Duel that created a whole new world”, Kyle Callahan told 22News. “They have to do what they have to do, I don’t think participation will be cut down, but until they see that they have to do whatever they need to do to keep it interactive.”

Fantasy Sports is a billion dollar industry.

The legislature’s deadline for action is July 31st.

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