11 CSR 45-11.020 - Deposit Account-Taxes and Fees
(1) The gaming tax imposed and remitted by
the licensee to the commission shall be deposited in a special trust account
designated by the commission. Not less than once per month on a date to be
selected by the commission, the director of revenue shall disburse from the
account monies owed to the home dock city or county. Any shared revenue shall
be disbursed by the home dock city or county to such other city or county as a
shared revenue agreement may provide.
(2) As a condition of its license, each
licensee shall establish and, after that, maintain an operating account at a
designated financial institution capable of handling electronic fund transfers.
The licensee must notify the commission of the financial institution where
funds are deposited. No change of financial institution may be made without
prior commission approval.
(3) Each
Class B licensee, as a condition of licensure, shall deposit into one (1)
account an amount sufficient to cover its estimated liability for the gaming
tax and the admission fee imposed by section
313.820, RSMo, representing the
average liability for the gaming tax and the admission fee for two (2) days of
operation. This account shall be designated, in substance, by the following
language: "Name of licensee, for the benefit of the Missouri
Gaming Commission."
(4) Licensees.
Beginning in the first month, second day of operation, each licensee, as a
condition of its license, shall deposit daily into the operating account an
amount sufficient to cover the estimated tax and fee liabilities for the
previous day. The licensee then shall timely remit from the operating account
to the commission the gaming tax and admissions fee for each daily period that
is defined as the business day for the purpose of establishing the estimated
tax and fee liabilities.
(A) With approval by
the commission, the licensee may select a twenty-four- (24-) hour cycle that is
defined as the business day for the purpose of establishing the estimated tax
and fee liabilities.
(B) Deposits
will be deemed timely when made no later than 12:00 p.m. Central Standard Time
on the first day financial institutions are open for business after the close
of the business day on which the estimated liabilities were
established.
(C) The licensee, by
applicable agreement with the financial institution, shall provide for the
automatic withdrawal or transfer of funds for payment of the taxes and
fees.
(D) In the event an
overpayment of the licensee's adjusted gross receipts tax is made and
discovered within the same weekly period which, for purposes of this section,
means Wednesday of each week through the following Tuesday, the licensee may
adjust its payment by the overpaid amount on the next gaming day's payment if
it falls within that weekly period.
(E) In the event an overpayment of the
licensee's adjusted gross receipts tax is made and is discovered in a
subsequent weekly period, the licensee may reduce its payment by the overpaid
amount on the next gaming day's payment only if the amount of the overpayment
is under one hundred dollars ($100). If the amount of the overpayment is one
hundred dollars ($100) or more, the licensee shall file a Claim for Refund or
Credit Form, included herein, along with the tax return.
(F) If an overpayment is due to an error in
the tax remittal, an amended return must be filed with the
commission.
(G) In the event that
the licensee's adjusted gross receipts results in a negative tax due, whether
within the same weekly period or not, the licensee shall adjust its next gaming
day's payment by the negative tax due amount.
(H) Every Claim for Refund or Credit Form
must be in writing under oath and must state the specific grounds upon which
the claim is founded.
(I) The Claim
for Refund or Credit Form shall be made available on the commission's website
at www.mgc.dps.mo.gov and may be
requested by writing to: Missouri Gaming Commission, PO Box 1847, Jefferson
City, MO 65102-1847.
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Notes
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