WV HB3458

Exempts the first $7,142,857.14 of annual adjusted gross receipts from the 35% privilege tax on West Virginia Lottery racetrack table games operations

Applies to licensed racetrack table games operators, who would only pay the 35% tax on adjusted gross receipts exceeding the $7,142,857.14 threshold

Weekly tax payments to the Lottery Commission begin only after the licensee's cumulative adjusted gross receipts exceed the exemption threshold in a given license year

Maintains existing provisions for handling negative adjusted gross receipts (when patron winnings exceed gross receipts), allowing carryover to subsequent weeks

Tax remains in lieu of most other state and local taxes on table game operations, including sales tax, use tax, and municipal business and occupation taxes (property tax still applies)