Explanation
Am Sub HB 29, 134th General Assembly, legalizes and regulates sports gaming (betting) in Ohio, effective January 1, 2023.
Under continuing law, Columbus income tax is imposed on gambling winnings. Current law requires that municipal income tax is withheld from patron winnings at a casino facility or video lottery terminal and remitted to the municipality in which the casino facility or video lottery terminal is located whenever the amount of patron winnings must be reported to the Internal Revenue Service for federal income tax purposes (generally, if the winnings are $600 or more). Am Sub HB 29 extends the requirement to withhold and remit municipal income tax to sports gaming facilities, sports gaming businesses and lottery sports gaming offered by in video lottery terminal facilities as defined in the Act.
The purpose of this Ordinance is to amend existing sections 362.053 and 362.07 of Chapter 362 to include withholding and remitting of Columbus income tax on certain winnings from sports betting.
FISCAL IMPACT: No funding is required for this legislation.
Emergency Justification: The Act requires that city tax withheld on patron winnings from sports betting be remitted monthly-on the tenth day of each month the amount deducted and withheld during the preceding calendar month. Any amounts withheld in January 2023 are scheduled to be remitted on or before February 10, 2023. Emergency action is requested to ensure that amendments to Sections 362.053 and 362.07 are timely made to avoid delay in receiving income tax revenue.
Title
To amend Sections 362.053 and 362.07 of Chapter 362 of the Columbus City Codes to include provisions in Am Sub HB 29, 134th General Assembly, that authorize sports gaming (betting) in Ohio and require withholding and remitting of Columbus income tax on certain patron winnings; and to declare an emergency.
Body
WHEREAS, Am Sub HB 29, 134th General Assembly, legalized and regulates sports gaming (betting) in Ohio, ef...
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