Charitable gambling combined net receipts tax rates and brackets modifications

This bill modifies tax rates for charitable organizations that operate gambling activities like bingo, raffles, and paddlewheels. It adjusts the tax brackets (e.g., raising the threshold from $87,500 to $100,000 for the lowest rate) and lowers some tax rates, such as reducing the rate on income between $122,500 and $200,000 from 25% to 20%. It also adds an exemption for revenue from sports-themed tipboards, where winning numbers are based on professional sports outcomes. The changes apply to charitable organizations' combined net gambling receipts and take effect July 1, 2025.