Colorado Gov. Polis Proposes Boosting Casino Taxes

In his final budget proposal, Gov. Jared Polis (D-CO) proposed lifting taxes on the state’s casinos in an effort to bolster funding for childcare and preschool programs. Polis, whose term ends in January, is proposing lifting the effective tax rate on Colorado’s land-based gaming venues to 23% from 16.1%. If approved, the new percentage would move the state closer to the national average of 26%. It’s estimated the new tax could raise $80.2 million per year from the gaming industry and nearly $129 million annually when combined with other “sin taxes” (alcohol and tobacco).