New Jersey on Thursday became the 16th state to expressly legalize daily fantasy sports (DFS) after Republican Governor Chris Christie signed a bill imposing a 10.5 percent tax rate on operators.
The bill — A 3532 — classifies DFS as a game of skill subject to oversight by the state’s Division of Consumer Affairs in the Department of Law and Public Safety.
In New Jersey, DFS companies will pay a tax rate of 10.5 percent on gross revenue. The law also sets a minimum age for players at 18 years of age, with operators having to apply for a permit in and pay a fee at an amount to be determined by regulators.
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