Deposit Account—Taxes and Fees

PURPOSE: This rule establishes the requirement of a deposit account for 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. AUTHORITY: sections 313.004, 313.800, 313.805, 313.807, 313.820, 313.822, and 313.835, RSMo 2016.* Emergency rule filed Sept. 1, 1993, effective Sept. 20, 1993, expired Jan. 17, 1994. Emergency rule filed Jan. 5, 1994, effective Jan. 18, 1994, expired Jan. 30, 1994. Original rule filed Sept. 1, 1993, effective Jan. 31, 1994. Emergency amendment filed June 14, 1994, effective June 24, 1994, expired Oct. 21, 1994. Amended: Filed May 4, 1994, effective Sept. 30, 1994. Emergency amendment filed March 2, 1995, effective March 12, 1995, expired July 9, 1995. Amended: Filed March 2, 1995, effective Aug. 30, 1995. Amended: Filed June 25, 1996, effective Feb. 28, 1997. Amended: Filed Nov. 10, 1997, effective June 30, 1998. Amended: Filed May 13, 1998, effective Oct. 30, 1998. Emergency amendment filed Oct. 29, 2008, effective Nov. 15, 2008, expired May 13, 2009. Amended: Filed Oct. 29, 2008, effective April 30, 2009. Emergency amendment filed Dec. 2, 2009, effective Jan. 6, 2010, expired July 4, 2010. Amended: Filed Dec. 2, 2009, effective June 30, 2010. Amended: Filed March 1, 2018, effective Oct. 30, 2018. Amended: Filed Dec. 5, 2019, effective Aug. 30, 2020. *Original authority: 313.004, RSMo 1993, amended 1994, 2014; 313.800, RSMo 1991, amended 1993, 1994, 2005, 2014, 2016; 313.805, RSMo 1991, amended 1993, 1994, 2000, 2008, 2010; 313.807, RSMo 1991, amended 1993, 2000, 2012; 313.820, RSMo 1991, amended 1993, 2000, 2005, 2006, 2008; 313.822, RSMo 1991, amended 1993, 2000, 2008, 2009; and 313.835, RSMo 1991, amended 1993, 1994, 1996, 1998, 2000, 2001, 2003, 2007, 2010, 2012.