§ 4-33-22-32 — Match or exhibition; gross receipts tax; report

(a) Every person, club, corporation, firm, or
association that may conduct any match or exhibition under this
chapter shall do the following within twenty-four (24) hours after the
end of the match or exhibition:
(1) Furnish to the commission, by mail, a written report duly
verified by that person or, if a club, corporation, firm, or
association, by one (1) of its officers, showing the amount of the
gross proceeds for the match or exhibition and other related
matters as the commission may prescribe.
(2) Pay a tax of five percent (5%) of the price from the sale of
each admission ticket to the match or exhibition, which price is a
separate and distinct charge and may not include any tax imposed
on and collected on account of the sale of the ticket. Money
derived from the tax shall be deposited in the fund.
(3) Pay all fees established by the commission necessary to cover
the administrative costs of its regulatory oversight function.
The commission may waive the tax on the price of admission for
complimentary admissions.
(b) Before any license is granted for any boxing, sparring, or
unarmed combat match or exhibition in Indiana, a bond or other
instrument that provides financial recourse must be provided to the
commission. The instrument must be:
(1) in an amount determined by the commission;
(2) approved as to form and sufficiency of the sureties by the
commission;
(3) payable to the state; and
(4) conditioned for the payment of the tax imposed, the officials
and contestants, and compliance with this chapter and the valid
rules of the commission.

Legislative History

As added by P.L.113-2010, SEC.11.