Montana Code 23-5-610. Video gambling machine gross income tax — records — distribution — payment
23-5-610. Video gambling machine gross income tax — records — distribution — payment. (1) A licensed machine owner shall pay to the department a video gambling machine tax of 15% of the aggregate gross income from all video gambling machines issued a permit under this part in the manner prescribed by the department. A licensed machine owner may deduct from the gross income amounts equal to amounts stolen from machines if the amounts stolen are not repaid by insurance or under a court order, if a law enforcement agency investigated the theft, and if the theft is the result of either unauthorized entry and physical removal of the money from the machines or of machine tampering and the amounts stolen are documented.
Terms Used In Montana Code 23-5-610
- Aggregate gross income: means the sum total of the gross income of all video gambling machines owned by a licensed machine owner. See Montana Code 23-5-602
- Gross income: means money put into a video gambling machine minus credits paid out in cash. See Montana Code 23-5-602
- Licensed machine owner: means a licensed operator or route operator who owns a video gambling machine for which a permit has been issued by the department. See Montana Code 23-5-602
- State: when applied to the different parts of the United States, includes the District of Columbia and the territories. See Montana Code 1-1-201
(2)A licensed machine owner shall keep a record of the gross income from each video gambling machine issued a permit under this part in the form the department requires. The records must at all times during the business hours of the licensee be subject to inspection by the department.
(3)The department shall, in accordance with the provisions of 17-2-124, forward the tax collected under subsection (1) of this section to the state treasurer for deposit in the general fund.