5.
(a)This subsection applies only to a
riverboat that received at least seventy-five million dollars
($75,000,000) of adjusted gross receipts during the preceding state
fiscal year. A graduated tax is imposed on the adjusted gross receipts
received from gambling games authorized under this article as follows:
(1)For state fiscal years ending before July 1, 2021, fifteen
percent (15%), and for state fiscal years beginning after June 30,
2021, ten percent (10%), of the first twenty-five million dollars
($25,000,000) of adjusted gross receipts received during the
period beginning July 1 of each year and ending June 30 of the
following year.
(2)Twenty percent (20%) of the adjusted gross receipts in excess
of twenty-five million dollars ($25,000,000) but not exceeding
fifty million dollars
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5. (a) This subsection applies only to a
riverboat that received at least seventy-five million dollars
($75,000,000) of adjusted gross receipts during the preceding state
fiscal year. A graduated tax is imposed on the adjusted gross receipts
received from gambling games authorized under this article as follows:
(1) For state fiscal years ending before July 1, 2021, fifteen
percent (15%), and for state fiscal years beginning after June 30,
2021, ten percent (10%), of the first twenty-five million dollars
($25,000,000) of adjusted gross receipts received during the
period beginning July 1 of each year and ending June 30 of the
following year.
(2) Twenty percent (20%) of the adjusted gross receipts in excess
of twenty-five million dollars ($25,000,000) but not exceeding
fifty million dollars ($50,000,000) received during the period
beginning July 1 of each year and ending June 30 of the following
year.
(3) Twenty-five percent (25%) of the adjusted gross receipts in
excess of fifty million dollars ($50,000,000) but not exceeding
seventy-five million dollars ($75,000,000) received during the
period beginning July 1 of each year and ending June 30 of the
following year.
(4) Thirty percent (30%) of the adjusted gross receipts in excess
of seventy-five million dollars ($75,000,000) but not exceeding
one hundred fifty million dollars ($150,000,000) received during
the period beginning July 1 of each year and ending June 30 of
the following year.
(5) Thirty-five percent (35%) of all adjusted gross receipts in
excess of one hundred fifty million dollars ($150,000,000) but not
exceeding six hundred million dollars ($600,000,000) received
during the period beginning July 1 of each year and ending June
30 of the following year.
(6) Forty percent (40%) of all adjusted gross receipts exceeding
six hundred million dollars ($600,000,000) received during the
period beginning July 1 of each year and ending June 30 of the
following year.
(b) This subsection applies only to a riverboat that received less than
seventy-five million dollars ($75,000,000) of adjusted gross receipts
during the preceding state fiscal year. A graduated tax is imposed on
the adjusted gross receipts received from gambling games authorized
under this article as follows:
(1) For state fiscal years ending before July 1, 2021, five percent
(5%), and for state fiscal years beginning after June 30, 2021, two
and one-half percent (2.5%), of the first twenty-five million
dollars ($25,000,000) of adjusted gross receipts received during
the period beginning July 1 of each year and ending June 30 of
the following year.
(2) For state fiscal years ending before July 1, 2021, twenty
percent (20%), and for state fiscal years beginning after June 30,
2021, ten percent (10%), of the adjusted gross receipts in excess
of twenty-five million dollars ($25,000,000) but not exceeding
fifty million dollars ($50,000,000) received during the period
beginning July 1 of each year and ending June 30 of the following
year.
(3) For state fiscal years ending before July 1, 2021, twenty-five
percent (25%), and for state fiscal years beginning after June 30,
2021, twenty percent (20%), of the adjusted gross receipts in
excess of fifty million dollars ($50,000,000) but not exceeding
seventy-five million dollars ($75,000,000) received during the
period beginning July 1 of each year and ending June 30 of the
following year.
(4) Thirty percent (30%) of the adjusted gross receipts in excess
of seventy-five million dollars ($75,000,000) but not exceeding
one hundred fifty million dollars ($150,000,000) received during
the period beginning July 1 of each year and ending June 30 of
the following year.
(5) Thirty-five percent (35%) of all adjusted gross receipts in
excess of one hundred fifty million dollars ($150,000,000) but not
exceeding six hundred million dollars ($600,000,000) received
during the period beginning July 1 of each year and ending June
30 of the following year.
(6) Forty percent (40%) of all adjusted gross receipts exceeding
six hundred million dollars ($600,000,000) received during the
period beginning July 1 of each year and ending June 30 of the
following year.
(c) The licensed owner or operating agent of a riverboat taxed under
subsection (b) shall pay an additional tax of two million five hundred
thousand dollars ($2,500,000) in any state fiscal year in which the
riverboat's adjusted gross receipts exceed seventy-five million dollars
($75,000,000). The additional tax imposed under this subsection is due
before July 1 of the following state fiscal year.
(d) The licensed owner or operating agent shall:
(1) remit the daily amount of tax imposed by this chapter to the
department on the twenty-fourth calendar day of each month for
the wagering taxes collected that month; and
(2) report gaming activity information to the commission daily on
forms prescribed by the commission.
Any taxes collected during the month but after the day on which the
taxes are required to be paid to the department shall be paid to the
department at the same time the following month's taxes are due.
(e) The payment of the tax under this section must be reported and
remitted electronically through the department's online tax filing
program.
(f) If the department requires taxes to be remitted under this chapter
through electronic funds transfer, the department may allow the
licensed owner or operating agent to file a monthly report to reconcile
the amounts remitted to the department.