General tax
125 General tax
General tax is payable on the noncommission-based profit derived in each month from the operation of the casino.
The noncommission-based profit derived in a month from the operation of the casino is—
if the value of unredeemed chips at the end of the month is greater than the value of unredeemed chips at the beginning of the month:
if the value of unredeemed chips at the end of the month is less than the value of unredeemed chips at the beginning of the month:
The rate at which general tax is payable is 10.9% of the noncommission-based profit derived in the month from the operation of the casino.
In this section:
chips means chips supplied by the casino licensee for noncommission-based gaming.
noncommission-based gaming means gaming other than commission-based gaming.
T, for a month, means the total amount of revenue the casino licensee receives from noncommission-based gaming in the casino in the month.
UC1, for a month, means the value of unredeemed chips at the beginning of the month.
UC2, for a month, means the value of the unredeemed chips at the end of the month.
W, for a month, means the total amount paid as winnings in relation to non-commission based gaming in the month.
This Act’s bill:Explanatory statementSecond reading speech
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