Ask Reggi Your Question Now
Can you summarize 1 COCR 207-1 RULE 16 30-1616?
ACCOUNTING REGULATIONS > Procedure for reporting and paying gaming taxes and fees.
Short Summary
This legal document, part of the Code of Colorado Regulations, specifically the Department of Revenue’s Division of Gaming - Rules promulgated by Gaming Commission, pertains to the procedure for reporting and paying gaming taxes and fees. It states that taxes and fees required by Article 30, Title 44. C.R.S., and the rules and regulations thereunder, must be received by the Division on or before the specified due date. However, if the licensee can demonstrate that the taxes and fees were deposited in a United States post office or mailbox with first class postage prepaid and properly addressed to the Division within the allowed time, they will be considered timely filed. The responsibility for paying gaming taxes and fees lies with the licensed retailer. Additionally, all required reports related to paying gaming taxes and fees must be received by the Division on or before the specified due date. Reports will be considered timely filed if the licensee can demonstrate that they were filed and transmitted electronically or through another approved method within the allowed time. Furthermore, all monthly gaming tax returns filed with the Department must reflect all adjusted gross proceeds received by the licensee for the period covered by the return.
Whom does it apply to?
Licensed retailers
What does it govern?
Reporting and paying gaming taxes and fees
What are exemptions?
No exemptions are mentioned.
What are the Penalties?
Not specified.
Jurisdiction
Colorado