RS 27:316: Taxation

A. There is hereby levied a tax of eight percent upon the net revenues of fantasy sports contests offered to consumers within this state, which shall be due and payable monthly.

B. The division shall collect all taxes imposed or assessed under the provisions of this Chapter. All taxes collected by the division shall be forwarded upon receipt to the state treasurer for immediate deposit into the state treasury. Funds so deposited shall be first credited to the Bond Security and Redemption Fund in accordance with Article VII, Section 9(B) of the Constitution of Louisiana. After complying with the provisions of the Bond Security and Redemption Fund, the state treasurer shall deposit the proceeds of the tax into the Louisiana Early Childhood Education Fund as established in R.S. 17:407.30.