Authority: IC 4-33-4-1; IC 4-33-4-2; IC 4-33-4-3; IC 4-33-4-21; IC 4-33-13- 1.5

Affected: IC 4-1-1-1; IC 4-33

Sec. 1.5. When a controlling interest, as determined by the commission, in an existing owner's license or operating agent contract is purchased or otherwise acquired from a licensed owner or operating agent, the subsequent licensed owner or operating agent must pay a wagering tax in accordance with IC 4-33-13-1.5 at a graduated tax rate to be calculated based upon the cumulative adjusted gross receipts received by both the:

(1) previous licensed owner or operating agent; and

(2) subsequent licensed owner or operating agent; during the entire fiscal year, as defined in IC 4-1-1-1, in which the transaction occurred.

(Indiana Gaming Commission; 68 IAC 15-5-1.5; filed Jan 27, 2006, 3:05 p.m.: 29 IR 1876; readopted filed Nov 16, 2012, 10:51 a.m.: 20121212-IR- 068120413RFA; readopted filed Sep 19, 2018, 4:09 p.m.: 20181017-IR-068180283RFA; readopted filed Nov 22, 2023, 8:28 a.m.: 20231220-IR-068230610RFA)