Manual Pull Tabs

Manual Pull Tabs. (a) A bingo location is prohibited from selling a manual pull-tab for an amount different than the face value of the pull-tab. A bingo location may not give away or sell pull-tabs at a discounted price. (b) The proceeds from manual pull-tab bingo is subject to a fee of 2 ½ % to be paid by the licensed distributor. This fee is due on or before the 15th of each month along with the monthly report of purchases of bingo supplies and equipment by all bingo operations. Any fee received after the due date shall be subject to a penalty of 25%. 1. Proceeds are defined, for the purpose of this fee, to be the gross receipts from the sale of manual pull-tabs, less prizes awarded for manual pull-tabs. No other cost or expense shall be deducted. 2. The licensed distributor shall pay this fee on manual pull-tabs as a condition of its license, as well as collect and remit to Mississippi all applicable sales and/or use taxes. Failure to pay the fee or taxes shall result in the suspension and/or revocation of the license. (c) The revenue from bingo, electronic bingo or electronic pull-tab bingo is not subject to this fee, nor are the prizes awarded for bingo, electronic bingo or electronic pull-tab bingo allowed to be deducted in the calculation of net proceeds for pull-tabs. (d) Manual pull-tab revenue and prizes must be accounted for separately from bingo, electronic bingo or electronic pull-tabs. The bingo location is required to maintain records in such a way that the revenue prizes and costs may be easily identified upon review or audit. (e) A report shall be submitted monthly by the bingo location to the Commission that details the total number of pull-tabs sold, the price of each pull-tab (to the participant) and totals the prizes awarded. The report must be accompanied by an invoice(s) from the purchase of the pull-tabs to verify the cost deducted. Source: Miss. Code Ann. §§ 97-33-107(b), 97-33-65, and 97-33-107(g). (f) If the auditor is unable to identify because of the lack of proper records, it will be assumed that all bingo revenue is subject to a 5% penalty versus a 2 ½ % fee, due to substandard record keeping.