Nebraska Administrative Code › Topic - RACING COMMISSION, STATE › Title 296 - RULES FOR NEBRASKA RACETRACK GAMING ACT › Chapter 7 - ACCOUNTING AND RECORDS › Section 296-7.009 - TAX REPORTING AND PAYMENT

Current through June 17, 2024
7.009.01 Each
				Authorized Gaming Operator is subject to tax and fee liability assessment for
				each Gaming Day for the applicable gaming tax as imposed under the
				Act.
7.009.02 Gaming Taxes will be
				paid via an electronic funds transfer system employing an Automated
				Clearinghouse Debit method (ACH-Debit). Each Authorized Gaming Operator
				licensee and manager will maintain an account with sufficient funds to pay, in
				a timely fashion, all tax and fee liabilities due under the Act. The account
				will be maintained at a financial institution capable of making payments to the
				State under the electronic funds transfer requirements imposed by the
				State.
7.009.03 Gaming Tax
				liability will be established on the basis of a Gaming Day. Each Authorized
				Gaming Operator licensee will select, with the approval of the Executive
				Director, a 24-hour cycle to be defined as the uniform Gaming Day for that
				Authorized Gaming Operator licensee. A Gaming Day may begin on one calendar day
				and end the next calendar day, provided that the Gaming Day does not extend
				beyond the uniform 24-hour period selected in advance by the Authorized Gaming
				Operator licensee.
7.009.04 The
				Executive Director will prescribe and make available to each Authorized Gaming
				Operator licensee and manager forms, instructions and reporting requirements
				for gaming Taxes.
7.009.05 All
				moneys collected for and owed to the Commission or state of Nebraska under the
				Gaming Tax imposed by the Act will be accounted for and itemized on a weekly
				basis in a format approved by the Commission. Each day on the report will be an
				accurate representation of the day's gaming transactions and play. A week will
				begin on Monday and end on Sunday.
7.009.06 The reporting form must be received
				in the Commission office by noon on Wednesday following the week's end. The
				moneys owed, according to the reporting form, must be received in the
				treasurer's office by 11 a.m. on the Thursday following the week's
				end.
7.009.07 Tax and Fee Schedules
				will include all information necessary for adjustments and reconciliation of
				tax and fee liability and will be subject to audit by the Commission and its
				audit agents. Adjustments to previously reported tax and fee information will
				be made by the Authorized Gaming Operator, except that no adjustment of $25,000
				or more will be made to previously reported Gross receipts without the prior
				written approval of the Executive Director or the Executive Director's
				designee, which will be reported to the Commission in writing.
7.009.08 In the event that a Tax and Fee
				Schedule for a specific Gaming Day properly reflects a net wagering loss
				experienced by the Authorized Gaming Operator, an adjustment for the amount of
				any remaining net wagering loss (negative Gross receipts) will be carried
				forward on the subsequent Tax and Fee Schedules until such loss is offset by
				Gaming win (positive Gross receipts).
7.009.09 All Gaming Taxes paid pursuant to
				the requirements of the Act will be collected by the Commission and remitted to
				the State Treasurer or county treasurer as required by Nebraska law.
7.009.10 An Authorized Gaming Operator's
				failure to comply with the provisions of this Section may subject the owner
				licensee or manager to penalty and interest amounts pursuant to Section
				9-1206. The Authorized Gaming
				Operator will be notified by the Commission in writing of any penalty or
				interest payable because of a late tax schedule filing or late tax payment. The
				Authorized Gaming Operator may, within 10 business days after receiving the
				notice, file a written request for a waiver with the Commission. The Commission
				will act on the request for waiver and notify the Authorized Gaming Operator in
				writing of the decision within 15 calendar days after receiving the request. If
				the Commission fails to act within the 15-day period the waiver is deemed
				granted. If the Commission denies the request for waiver the Authorized Gaming
				Operator may ask the Commission for a hearing. The request for hearing must be
				in writing and filed not later than 15 calendar days after receipt of the
				notice of denial. A hearing under this Section is not a disciplinary
				hearing.