Arkansas state Rep. Jack Fortner and state Senator Bill Sample recently filed a bill that would increase the tax on casino winnings. The bill, HB1703, would require casinos to report gambling winnings to the Secretary of the Department of Finance and Administration, and withhold Arkansas state income tax on those winnings.
The winnings would be taxed at 5.9 percent, which would be “the highest income tax rate imposed on individual taxpayers” under the state’s income tax law.
Also under the proposed law, DFA would be required to provide a method for casinos to report and pay the taxes to the state treasury.
The bill has been assigned to the House Rules Committee.
