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Can I offer contests that involve entry fees in Mississippi? What are the requirements?

Yes, you can offer contests that involve entry fees in Mississippi. However, you will need to obtain a license and pay a fee equivalent to eight percent (8%) of the operator’s net Mississippi revenue to the Department of Revenue [2.1].

To calculate the fee, you will need to determine the “net Mississippi revenue,” which is the total of all fantasy contest entry fees that an operator collects from all players, less the total of all sums paid out as cash prizes to all fantasy contest players, multiplied by the location percentage for Mississippi [2.1].

The license fees levied by this chapter shall be due quarterly for the periods January through March, April through June, July through September and October through December, and payable on or before the twentieth day of the month next succeeding the month in which the fees accrue. The licensee shall make a return showing the net Mississippi revenue and compute the fee due for the period [2.1].

Note that this information applies specifically to fantasy sports contests. If you are offering a different type of contest, you should consult the relevant laws and regulations to determine the requirements [2.2][1.4].

Source(s):
Jurisdiction

Mississippi