Louisiana Considers Sports Betting Tax Hike

This is a Louisiana news story, published by Yahoo Sports, that relates primarily to Jeff Landry news.

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college sports

Associated Press News

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Sports

Louisiana is poised to hike its sports betting tax to help colleges pay their athletes

Summary

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86% Informative

Legislation pending before Gov. Jeff Landry would make Louisiana the first state to raise taxes to fund college sports.

Arkansas this year became the first to waive state income taxes on NIL payments made to athletes by higher education institutions.

In the first year , each Division I school can share up to $20.5 million with its athletes.

Last week , University of Kentucky trustees approved a $31 million operating loan for the athletics department.

That came after trustees in April voted to convert the Kentucky athletics department into a limited-liability holding company.

Other schools also are taking actions because of deficits in their athletic departments.

Given the money involved in college athletics, it's not surprising that states are starting to provide tax money to athletic departments or tax relief to college athletes.

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semi-formal

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English

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not hateful