§ 4-35-8-5 — Deductions for qualified wagering

Indiana § 4-35-8-5

• Jurisdiction: Indiana
• Art. 35: GAMBLING GAMES AT RACETRACKS
• Ch. 8: Taxation of Slot Machine Wagering

Text

(a) This section applies to adjusted gross
receipts from wagering on gambling games that occurs after the
effective date of this section, as added by SEA 528-2013.
(b) As used in this section, "qualified wagering" refers to wagers
made by patrons using noncashable vouchers, coupons, electronic
credits, or electronic promotions provided by the licensee.
(c) Subject to subsection (d), a licensee may at any time during the
state fiscal year deduct from the adjusted gross receipts reported by the
licensee the adjusted gross receipts attributable to qualified wagering.
A licensee must take a deduction under this section on a form and in
the manner prescribed by the department.
(d) A licensee may not deduct more than the following amounts in
a particular state fiscal year:
(1) Two million five hundred thousand dollars ($2,500,000) in a
state fiscal year ending before July 1, 2013.
(2) Five million dollars ($5,000,000) in a state fiscal year
beginning after June 30, 2013, and ending before July 1, 2015.
(3) Seven million dollars ($7,000,000) in a state fiscal year
beginning after June 30, 2015, and ending before July 1, 2021.
(4) Nine million dollars ($9,000,000) in a state fiscal year
beginning after June 30, 2021.
(e) Deductions under this section also apply to a licensee's adjusted
gross receipts for purposes of the following statutes:
(1) IC 4-35-7-12.
(2) IC 4-35-8.5.
(3) IC 4-35-8.9.
(f) A licensee may for a state fiscal year assign all or part of the
amount of the deduction under this section that is not claimed by the
licensee for the state fiscal year to another licensee, a licensed owner
as defined by IC 4-33-2-13, or an operating agent as defined by IC 4-33-2-14.5. An assignment under this subsection must be in writing
and both the licensee assigning the deduction and the licensee, licensed
owner as defined by IC 4-33-2-13, or operating agent as defined by IC 4-33-2-14.5, to which the deduction is assigned shall report the
assignment to the commission and to the department. The maximum
amount that may be assigned under this subsection by a licensee for a
state fiscal year is equal to the result of:
(1) seven million dollars ($7,000,000); minus
(2) the amount deducted under this subsection by the licensee for
the state fiscal year.

Legislative History

As added by P.L.229-2013, SEC.36. Amended by P.L.255-2015, SEC.44; P.L.293-2019, SEC.39.