Modifying rate of tax due on licensee's adjusted gross receipts

SB 760 modifies the tax rate applied to racetrack table game licensees' adjusted gross receipts exceeding $7,142,857.14 annually. Currently, a 35% tax applies to this threshold, but the bill's specific rate change isn't detailed in the provided text. The legislation would require weekly tax payments based on receipts, allow negative receipts to carry forward (but not backward), and establish this tax as the sole state tax for table game operations (replacing other sales, use, and local taxes). It directly affects racetrack operators licensed to run West Virginia Lottery table games.