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Can you summarize 038-0002-3 WYAR?
Online Sports Wagering > Taxes and Payments
Short Summary
This section of the Wyoming Administrative Rules, under the Wyoming Gaming Commission, governs taxes and payments related to online sports wagering. It applies to sports wagering operators. According to the rules, operators must remit ten percent (10%) of their online sports wagering revenue to the Commission by the fifteenth (15th) day of each month. Operators must establish and maintain an operating account at a designated financial institution capable of handling electronic fund transfers. The tax or payment must be remitted electronically, along with a tax return, by the fifteenth (15th) day of the month following the calendar month in which the revenue was received. If the online sports wagering revenue for a month is negative, no tax or payment is required, and the negative amount is carried over as a deduction on subsequent tax or payment forms until it reaches zero balance. The sports wagering operator can receive deductions from online sports wagering revenue with written approval from the Commission for amounts returned to a patron due to game, platform, or system malfunction or concerns regarding the integrity of the wager or game. Uncollectible markers or successfully disputed credit or debit card charges can also be deducted with prior approval. The operator must submit a written request, including supporting documentation, for any deductions it wishes to take against online sports wagering revenue, which must be reviewed and approved by the Commission.
Whom does it apply to?
Sports wagering operators
What does it govern?
Taxes and payments related to online sports wagering
What are exemptions?
The sports wagering operator can receive deductions from online sports wagering revenue with written approval from the Commission for amounts returned to a patron due to game, platform, or system malfunction or concerns regarding the integrity of the wager or game. Uncollectible markers or successfully disputed credit or debit card charges can also be deducted with prior approval.
What are the Penalties?
No specific penalties are mentioned.
Jurisdiction
Wyoming