Portal Forum General Other Sports Youth Hockey Reply To: Youth Hockey

#148636 Quote
  • Posts: 1201
  • GoldenHas donated $ to the upkeep of GPL

I was looking at the meeting minutes for our youth hockey program and specifically looking at the charitable gambling income.

I was shocked to see MN has 2 taxes for “Lawful gambling” (36% + 8.5%).

Our local government charges a 10% tax.

So our net receipts are taxed 54.5%. After you subtract cost of tickets, booth rental, paying for pull tab employees your net income is less than 20%! :lol:

I am not intending this to be political. I just thought it was interesting how little money actually makes it to the intended charity.