Bill > S04881

This bill amends the tax law in relation to taxes on gross receipts from ticket sales, broadcasting rights, and digital streaming over the internet of combative sport events. The key provisions include: 1) a 3% tax on gross receipts from ticket sales, with no cap; 2) a 3% tax on the sum of gross receipts from broadcasting rights and digital streaming, with a $50,000 cap per event; and 3) a reduction in the tax rate on gross receipts from ticket sales for authorized combative sports events (other than professional or amateur boxing, sparring, or wrestling) from 8.5% to 5%, and an increase in the tax rate on broadcasting rights and digital streaming from 3% to 5%, with a $50,000 cap per event.