New Jersey Administrative Code
Title 13 - LAW AND PUBLIC SAFETY
Chapter 69L - TAXES
Subchapter 1 - GROSS REVENUE TAX; INTERNET GAMING GROSS REVENUE TAX; TAXES ON SPORTS WAGERING
Section 13:69L-1.11 - Deduction for promotional gaming credits
Current through Register Vol. 56, No. 18, September 16, 2024
(a) A casino operator shall be entitled to a deduction from gross revenue in an amount equal to its proportionate share of the eligible promotional gaming credits wagered in the casinos of all casino operators or through the licensee's Internet gaming system during the tax year.
(b) On or before the third calendar day of each month, each casino operator shall report to the Division the value of the promotional gaming credits that were wagered in its casino or through the licensee's Internet gaming system during the preceding month. Upon timely receipt of this information, the Division shall, on or before the seventh calendar day after month-end, make available to all casino operators the industry promotional gaming credit information, including the value of promotional gaming credits wagered and the value of eligible promotional gaming credits allocable to each casino operator for deduction from gross revenue.
(c) In accordance with the information provided by the Division pursuant to (b) above, each casino operator shall be entitled, in its monthly gross revenue report and monthly gross revenue tax return, to deduct from its gross revenue the value of eligible promotional gaming credits allocated by the Division to such casino operator.
(d) Any increase or decrease in the value of eligible promotional gaming credits from the previous month shall be reported on the next weekly tax transfer made in accordance with 13:69L-1.5.
