Missouri Code of State Regulations › Title 11 - DEPARTMENT OF PUBLIC SAFETY › Division 45 - Missouri Gaming Commission › Chapter 11 - Taxation Regulation › Section 11 CSR 45-11.020 - Deposit Account-Taxes and Fees

Current through Register Vol. 49, No. 14, July 15, 2024
PURPOSE: This amendment corrects a typographical
				  error and removes the requirement to file a Claim for Refund or Credit Form for
				  overpayments of less than one hundred dollars ($100).
(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 moneys 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, P O Box 1847, Jefferson
				City, MO 65102-1847.
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