75-76-177 - License fee based on gross revenues of licensee; penalty for failure to pay fee.
§ 75-76-177. License fee based on gross revenues of licensee; penalty for failure to pay fee.
(1) From and after August 1, 1990, there is hereby imposed and levied on each gaming licensee a license fee based upon all the gross revenue of the licensee as follows:
(a) Four percent (4%) of all the gross revenue of the licensee which does not exceed Fifty Thousand Dollars ($50,000.00) per calendar month;
(b) Six percent (6%) of all the gross revenue of the licensee which exceeds Fifty Thousand Dollars ($50,000.00) per calendar month and does not exceed One Hundred Thirty-four Thousand Dollars ($134,000.00) per calendar month; and
(c) Eight percent (8%) of all the gross revenue of the licensee which exceeds One Hundred Thirty-four Thousand Dollars ($134,000.00) per calendar month.
(2) All revenue received from any game or gaming device which is leased for operation on the premises of the licensee-owner to a person other than the owner thereof or which is located in an area or space on such premises which is leased by the licensee-owner to any such person, must be attributed to the owner for the purposes of this section and be counted as part of the gross revenue of the owner. The lessee is liable to the owner for his proportionate share of such license fees.
(3) If the amount of license fees required to be reported and paid pursuant to this section is later determined to be greater or less than the amount actually reported and paid by the licensee, the Chairman of the State Tax Commission shall:
(a) Assess and collect the additional license fees determined to be due, with interest thereon until paid; or
(b) Refund any overpayment, with interest thereon, to the licensee.
Interest must be computed, until paid, at the rate of one percent (1%) per month from the first day of the first month following either the due date of the additional license fees or the date of overpayment.
(4) Failure to pay the fees provided for in this section when they are due for continuation of a license shall be deemed a surrender of the license.
Sources: Laws, 1990 Ex Sess, ch. 45, § 90; Laws, 1997, ch. 562, § 4, eff from and after July 1, 1997.