Indiana Administrative Code
Title 68 - INDIANA GAMING COMMISSION
Article 15 - ACCOUNTING RECORDS AND PROCEDURES
Rule 5 - Wagering Tax
Section 5-1.5 - Transfer of ownership

Universal Citation: 68 IN Admin Code 5-1.5

Current through September 18, 2024

Authority: IC 4-33-4-1; IC 4-33-4-2; IC 4-33-4-3; IC 4-33-4-21; IC 4-33-13-1.5

Affected: IC 4-1-1-1; IC 4-33

Sec. 1.5.

When a controlling interest, as determined by the commission, in an existing owner's license or operating agent contract is purchased or otherwise acquired from a licensed owner or operating agent, the subsequent licensed owner or operating agent must pay a wagering tax in accordance with IC 4-33-13-1.5 at a graduated tax rate to be calculated based upon the cumulative adjusted gross receipts received by both the:

(1) previous licensed owner or operating agent; and

(2) subsequent licensed owner or operating agent;

during the entire fiscal year, as defined in IC 4-1-1-1, in which the transaction occurred.

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