The respective laws authorizing the gaming established the transfer schedules.Įducation tax funding by type of gaming includes: This happens after other required allocations are made from the Internet Gaming, Internet Sports Betting, and Fantasy Contest funds.
For internet gaming, internet sports betting, and fantasy contests, taxes are transferred to the School Aid Fund at the end of the fiscal year.
Wagering taxes on the Detroit casinos for gaming and retail sports betting are collected and sent monthly to the School Aid Fund. “My MGCB colleagues and I are proud to play our role in helping Michigan schools by collecting wagering taxes on legal, regulated gaming.” “Dollars invested in education are critical to the development of Michigan’s future workforce,” said Henry Williams, MGCB executive director. The taxes paid through 2021 are based on revenues and receipts from casino slots, casino table games and, more recently, retail sports betting, internet gaming, internet sports betting and fantasy contests. Detroit, J– The Michigan Gaming Control Board has collected a lot of silver - $2.5 billion worth - from the Detroit casinos and internet gaming, internet sports betting, and fantasy contest operators for Michigan’s School Aid Fund in the agency’s 25 years of existence.
