Pennsylvania to Receive Tax Cuts from Slots Profits
On April 18th, 2008, the legislators in the state of Pennsylvania knew that when they approved slot machines gaming to be offered in the state back in 2004 that it would help the finances of the state and answer the needs of the residents. That promised relief is now a reality.
A tax relief cut has been made possible by the profits from slot machine gaming in the state of Pennsylvania that will help owners of farm lands and home owners. The amount of the tax relief cut will differ but the average tax cut will be at $169. Over the period of time since the year 2006 when slot machines were first offered in the state, a total of $905 million has been produced.
That figure has given the state the option to predict that $612 million will be given to the residents in the form of tax cuts. Slot machines are just beginning to be offered in some states.
The state of Florida started offering Class III slot machines and is now considering expanding gaming not only all over the state but has signed a gambling compact with the Seminole Tribe to offer blackjack and baccarat. The profit that is made from gaming has been a major source of profit in a lot of states.
More states are using legalized gaming to help balance their budgets in the face of a weakening economy.