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Tax Plan Under Fire

Ohio is still trying to get the majority of residents on board with their slot machine plan, to no avail. Although residents in the state say that they would approve slot machines because they don’t want to tell someone else what they can’t do, they don’t really want them. The governor has been trying to get his residents to see the benefit of the slot machines instead of just the negative, but so far he has been unsuccessful with many of them are.

Ohio is currently proposing a 33% tax rate for their slot machine casino operators, which is in the middle range of tax rates for the Midwestern part of the US. However both supporters and opponents of the slot machine plan have been coming forward to complain or praise it depending on the side that they are on. Those that are for the slot machine plan say that the tax rate would make Ohio the “fourth highest for a pure casino jurisdiction.”

However opponents say that the tax rate is one of the lowest in the country in those states that offer slot machine casino gambling. The fact of the matter is that across the nation slot machine rates vary from 8% in Nevada to 74% in Rhode Island. Pennsylvania currently offers a 55% tax rate, but they only offer slot machines. In those states that offer full casinos, the rate is much lower.

Supporters say that the ballot issue would bring in roughly $651 million in annual revenue for the state, which would allow big cities and school districts to get a large portion of it. Ohio casinos are projected to generate almost $2 billion in gross revenues each year.

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