Iowa Admin. Code r. 491-12.11 - Attendant and ticket payout accounting
(1)
Attendant payouts. Under
this rule, unless otherwise subject to Iowa Code chapter 556, jackpots and
accumulated credits paid by a slip that are unpaid or unclaimed at the close of
a facility's fiscal year shall be disallowed as a deduction from gross receipts
for the calculation of adjusted gross revenue for the wagering tax. A facility
shall make this adjustment to revenue within 90 days of the close of the
facility's fiscal year.
(2)
Ticket payouts. Payouts dispensed by a ticket issued directly
from a gaming device must have a minimum payout redemption period of 90 days
from the date of issuance.
a. Notwithstanding
491-subrule 5.4(14), an issued ticket redeemed for cash or deposited in a slot
machine for machine credits shall be retained for a minimum of 90 days from the
redemption date. The ticket may be subsequently destroyed if record of the
transaction is retrievable by other means.
b. At the close of the facility's fiscal
year, tickets issued in previous fiscal years and tickets with expired
redemption periods that remain outstanding and unredeemed are subject to the
requirements of subrule 12.11(1).
Notes
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