Bill Text: IN SB0214 | 2010 | Regular Session | Introduced
Bill Title: Slot machine wagering tax.
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Introduced - Dead) 2010-01-05 - First reading: referred to Committee on Appropriations [SB0214 Detail]
Download: Indiana-2010-SB0214-Introduced.html
Citations Affected: IC 4-33-2-17.5; IC 4-35.
Synopsis: Slot machine wagering tax. Provides that the slot machine
wagering tax imposed on racetrack casinos is calculated using taxable
receipts that are calculated excluding amounts paid to support horse
racing, for the county slot machine fee, and for the supplemental fee
paid to the French Lick casino. Phases in the exclusion over four years.
Repeals an obsolete definition.
Effective: July 1, 2010.
January 5, 2010, read first time and referred to Committee on Appropriations.
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A BILL FOR AN ACT to amend the Indiana Code concerning
gaming.
(1) Twenty-five percent (25%) of the first one hundred million dollars ($100,000,000) of
(2) Thirty percent (30%) of the
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) the appropriate percentage as follows:
(A) Ninety-five percent (95%) during a state fiscal year
ending before July 1, 2011.
(B) Ninety-one percent (91%) during a state fiscal year
beginning after June 30, 2011, and ending before July 1,
2012.
(C) Eighty-six and five-tenths percent (86.5%) during a
state fiscal year beginning after June 30, 2012, and ending
before July 1, 2013.
(D) Eighty-two percent (82%) during a state fiscal year
beginning after June 30, 2013.
(c) This subsection applies if the commission certifies to the
department that the licensee has paid the maximum amount of
county slot machine wagering fees required by IC 4-35-8.5-1 for
that particular state fiscal year. For the purpose of remitting taxes
during the remainder of a state fiscal year after a certification is
issued to the department, 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) the appropriate percentage as follows:
(A) Ninety-eight percent (98%) during a state fiscal year
ending before July 1, 2011.
(B) Ninety-four percent (94%) during a state fiscal year
beginning after June 30, 2011, and ending before July 1,
2012.
(C) Eighty-nine and five-tenths percent (89.5%) during a
state fiscal year beginning after June 30, 2012, and ending
before July 1, 2013.
(D) Eighty-five percent (85%) during a state fiscal year
beginning after June 30, 2013.
(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) The commission shall deposit the county slot machine wagering fee received by the commission into a separate account within the state general fund.
(c) The commission shall issue a certificate of compliance to a licensee upon determining that the licensee has paid the maximum amount of county slot machine wagering fees required by subsection (a). The commission shall submit a copy of the certificate to the department for the department's use in determining the taxable receipts of the licensee's slot machine operation for the remainder of the state fiscal year under IC 4-35-8-1(c).
(b) This SECTION expires January 1, 2012.
