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Proposed Tax Hike Would Hurt Riverside Casino

Posted: Saturday, February 5th, 2011 at 6:26 am
Author: KCII News - Bill Gatchel

Governor Terry Branstad released a budget proposal last week to increase casino taxes from 22 percent to 36 percent.  Riverside Casino and Golf Resort General Manager Dan Franz says this proposed tax increase would significantly impact their revenues.  He says this increase would mean they would have an additional $12 million a year in taxes they would have to pay.  Franz says they currently pay approximately $19 million a year.  He says this proposal would mean about $600,000 less would be given to the Washington County Riverboat Foundation.  Franz says there are many possibilities they would have to explore to make up for the loss.  Franz adds they currently have around 750 employees and this proposed tax increase would make it difficult to keep all of them working.