West Virginia Code of State Rules
Agency 110 - Tax
Title 110 - LEGISLATIVE RULE STATE TAX DEPARTMENT
Series 110-37 - Charitable Raffles
Section 110-37-15 - Records
Current through Register Vol. XLI, No. 38, September 20, 2024
15.1. Separate accounting and bookkeeping procedures for raffle operations shall be maintained by each licensee. This means, at a minimum, that a separate bank account shall be maintained for raffle proceeds and only the preprinted serially numbered checks used in conjunction with this account may be used for the payment of expenses. The checks shall be payable to a specific person, firm or corporation and at no time may a check be made payable to cash. Detailed books of receipts and disbursements shall also be maintained.
15.2. All records shall be maintained for at least three (3) years or for a longer time period as the Tax Commissioner shall, in writing, order. The records shall be held open for reasonable inspection by the Commissioner. Results of these inspections may be used as grounds for performing an audit of the licensee's books.
15.3. Audits of the licensee's books may be performed by the Tax Commissioner if he or she has reasonable cause to believe that the licensee has violated W. Va. Code '47-21-1 et seq.
15.4. The Tax Commissioner shall perform, or cause to be performed, an audit of the books and records of any licensee that has awarded total prizes in excess of one hundred seventy-five thousand dollars ($175,000) during the previous license year. The Tax Commissioner shall file a copy of the completed audit with the county commission of the county in which the licensee holds raffle occasions.
