A key New Jersey lawmaker pushing for casinos in northern New Jersey says the state could impose a tax rate of 40 to 60 percent on their earnings.
Assemblyman Ralph Caputo, a northern New Jersey Democrat, says the exact tax rate will be negotiated and included in “enabling legislation.”
Lawmakers have not committed to deciding details of that legislation before a proposed statewide referendum on north Jersey casinos in November.
The second of two required public hearings for a referendum to expand casino gambling beyond Atlantic City was held Monday in the state Legislature.
All that remains for a referendum to happen is for a bill authorizing it to be approved by three-fifths majorities in both houses of the Legislature, something that could happen as early as next week.