Bill Text: IN SB0130 | 2010 | Regular Session | Introduced
Bill Title: Slot machine wagering tax.
Spectrum: Partisan Bill (Republican 1-0)
Status: (Introduced - Dead) 2010-01-05 - First reading: referred to Committee on Appropriations [SB0130 Detail]
Download: Indiana-2010-SB0130-Introduced.html
Citations Affected: IC 4-35-2; IC 4-35-8-1.
Synopsis: Slot machine wagering tax. Provides that the slot machine
wagering tax imposed on the racetrack casinos is calculated using
taxable receipts. Defines taxable receipts as adjusted gross receipts
minus amounts paid to support the horse racing industry, the county in
which the casino is located, and the French Lick casino.
Effective: July 1, 2010.
January 5, 2010, read first time and referred to Committee on Appropriations.
PRINTING CODE. Amendments: Whenever an existing statute (or a section of the Indiana Constitution) is being amended, the text of the existing provision will appear in this style type, additions will appear in this style type, and deletions will appear in
Additions: Whenever a new statutory provision is being enacted (or a new constitutional provision adopted), the text of the new provision will appear in this style type. Also, the word NEW will appear in that style type in the introductory clause of each SECTION that adds a new provision to the Indiana Code or the Indiana Constitution.
Conflict reconciliation: Text in a statute in this style type or
A BILL FOR AN ACT to amend the Indiana Code concerning
gaming.
(1) the total of a licensee's adjusted gross receipts; minus
(2) the total of the amount of money paid by the licensee under:
(A) IC 4-35-7-12;
(B) IC 4-35-8.5; and
(C) IC 4-35-8.9.
(1) Twenty-five percent (25%) of the first one hundred million dollars ($100,000,000) of
30 of the following year.
(2) Thirty percent (30%) of the adjusted gross taxable receipts in
excess of one hundred million dollars ($100,000,000) but not
exceeding two hundred million dollars ($200,000,000) received
during the period beginning July 1 of each year and ending June
30 of the following year.
(3) Thirty-five percent (35%) of the adjusted gross taxable
receipts in excess of two hundred million dollars ($200,000,000)
received during the period beginning July 1 of each year and
ending June 30 of the following year.
(b) A licensee shall remit the tax imposed by this section to the
department before the close of the business day following the day the
wagers are made. Except as provided in subsection (c), a licensee
shall calculate the amount of taxable receipts received for a
particular day by determining the product of:
(1) the adjusted gross receipts received during the day;
multiplied by
(2) either of the following:
(A) Eighty-one hundredths (0.81) during a state fiscal year
ending before July 1, 2012.
(B) Eighty-two hundredths (0.82) during a state fiscal year
beginning after June 30, 2012.
(c) This subsection applies to taxes remitted after a licensee pays
the maximum amount of county slot machine wagering fees
required by IC 4-35-8.5-1 for a particular state fiscal year. For
purposes of remitting taxes under this subsection, a licensee shall
calculate the amount of taxable receipts received for a particular
day by determining the product of:
(1) the adjusted gross receipts received during the day;
multiplied by
(2) either of the following:
(A) Eighty-four hundredths (0.84) during a state fiscal year
ending before July 1, 2012.
(B) Eighty-five hundredths (0.85) during a state fiscal year
beginning after June 30, 2012.
(c) (d) The department may require payment under this section to
be made by electronic funds transfer (as defined in IC 4-8.1-2-7(f)).
(d) (e) If the department requires taxes to be remitted under this
chapter through electronic funds transfer, the department may allow the
licensee to file a monthly report to reconcile the amounts remitted to
the department.
(e) (f) The payment of the tax under this section must be on a form
prescribed by the department.
(b) This SECTION expires January 1, 2012.