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Can you summarize IC 4-33-12-1.5?
Admission Taxes > Supplemental wagering tax rate; supplemental wagering tax liability of a licensed owner operating an inland casino in Vigo County
Short Summary
This legal document, found in the Indiana Code under the section for Riverboat Gambling and Admission Taxes, pertains to the imposition of a supplemental wagering tax on licensed owners operating riverboats. The amount of supplemental wagering tax imposed is determined by multiplying the riverboat’s adjusted gross receipts for a particular day by a quotient. The quotient is calculated by dividing the total riverboat admissions tax paid by the licensed owner between July 1, 2016, and June 30, 2017, by the riverboat’s adjusted gross receipts during the same period. The supplemental wagering tax liability of a licensed owner subject to this calculation may not exceed 4% before July 1, 2019, and 3.5% after June 30, 2019. However, for licensed owners operating an inland casino in Vigo County, the supplemental wagering tax liability is fixed at 2.9% of the riverboat’s adjusted gross receipts for the day. No specific exemptions or penalties are mentioned in this document.
Whom does it apply to?
Licensed owners operating riverboats and inland casinos in Vigo County
What does it govern?
Supplemental wagering tax rate, supplemental wagering tax liability of a licensed owner operating an inland casino in Vigo County
What are exemptions?
No exemptions are mentioned.
What are the Penalties?
No penalties are mentioned.
Jurisdiction
Indiana