Are gross receipts from a bingo game taxable?
No. Section 12-21-4030(c) states that “the entrance fees collected pursuant to Subsection (b) are not required to be remitted as taxes and are not included in gross proceeds for purposes of the prize limitations provided in Section 12-21-4000 (12)(a). Section 12-21-4270 states, “the sale of bingo cards and entrance fees provided by Section 12-21-4030 are not subject to the admissions tax provided by Section 12-21-2420.
Related Questions
- I am registered as a CAT taxpayer and my taxable gross receipts will be below $150,000 for the calendar year. Do I have to pay the minimum tax for that calendar year?
- I am unable to determine actual taxable gross receipts in order to timely file my returns. May I make estimated quarterly payments?
- Are gross receipts from a bingo game taxable?
