WV SB760

Modifies the tax structure for racetrack table games licensees by applying the 35% tax rate only to adjusted gross receipts exceeding $7,142,857.14 per license year, effectively creating a tax-free threshold

Weekly tax payments to the Lottery Commission are required only after the licensee's adjusted gross receipts first exceed the $7,142,857.14 threshold in a given license year

The tax remains in lieu of most other state and local taxes on table games operations, with the exception of ad valorem property taxes

Licensees continue to be exempt from state sales and use taxes on wagering receipts and purchases of gaming equipment, supplies, or services directly used in table games operations

No credits are permitted against the table games tax for investments in gaming equipment or real property improvements