Skip to main content
Find a Lawyer

Virginia Code Title 58.1. Taxation § 58.1-4124. Tax rate on adjusted gross receipts

Current as of January 01, 2025 | Updated by Findlaw Staff

A. A tax on the adjusted gross receipts of each licensed operator received from games authorized under this chapter shall be imposed as follows:

1. On the first $200 million of adjusted gross receipts of an operator each calendar year, a rate of 18 percent.

2. On the adjusted gross receipts of an operator that exceed $200 million but do not exceed $400 million each calendar year, a rate of 23 percent.

3. On the adjusted gross receipts of an operator that exceed $400 million each calendar year, a rate of 30 percent.

B. All tax revenues collected pursuant to the provisions of this section shall accrue to the Gaming Proceeds Fund and be allocated as provided in § 58.1-4125.

C. The taxes imposed by this section shall be paid by the licensed operator to the Department no later than the close of the fifth day of each month for the preceding month when the adjusted gross receipts were received and shall be accompanied by forms and returns prescribed by the Board. Revenues collected pursuant to this section shall be credited to the Gaming Proceeds Fund to be appropriated as set forth in § 58.1-4125. The Department may suspend or revoke the license of an operator for willful failure to submit the wagering tax payment or the return within the specified time.

D. The tax imposed under this section shall not apply to the receipts of a licensed operator from sports betting, whether such receipts were generated from a sports betting facility or sports betting platform; instead, such receipts shall be taxable under § 58.1-4037.

Previous Part of Code Next Part of Code
Back to Chapter List

Cite this article: FindLaw.com - Virginia Code Title 58.1. Taxation § 58.1-4124. Tax rate on adjusted gross receipts - last updated January 01, 2025 | https://codes.findlaw.com/va/title-58-1-taxation/va-code-sect-58-1-4124/

FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.

Was this helpful?

Welcome to FindLaw's Cases & Codes

A free source of state and federal court opinions, state laws, and the United States Code. For more information about the legal concepts addressed by these cases and statutes, visit FindLaw’s Learn About the Law.

Go to Learn About the Law

Latest Blog Posts

For Legal Professionals

Learn About The Law

Get help with your legal needs

FindLaw’s Learn About the Law features thousands of informational articles to help you understand your options. And if you’re ready to hire an attorney, find one in your area who can help.

Go to Learn About the Law

Need to Find an Attorney?

Search our directory by legal issue

Enter information in one or both fields (Required)

Copied to clipboard