Adjustment of Payment of Gambling Revenue Tax in Certain circumstances

Adjustment of Payment of Gambling Revenue Tax in Certain Circumstances. (a) If the total of all sums, including checks whether collected or not, actually received in any month by a casino operator from the conduct of gaming (hereinafter in this section referred to as “the total receipts”) is less than the total of all sums paid out as winnings during that month in respect of gaming (hereinafter in this section referred to as “the total payments”), the amount of the difference between the total payments and the total receipts shall for the purpose of assessment of the gambling revenue tax and casino community benefit levy payable in respect of the next succeeding month be first deducted, to the extent it may be, from the casino gross revenue for that month. (b) Where there is no casino gross revenue for that month or where the casino gross revenue for that month is less than the amount of the difference as aforesaid, the amount of the difference or that part thereof that is in excess of the casino gross revenue for that month, as the case may be, shall for the purpose of the assessment of gambling revenue tax and casino community benefit levy payable in respect of the next month thereafter be first deducted, to the extent it may be, from the casino gross revenue for such next month. (c) The operation of this section shall extend, in respect of the amount of the difference between the total payments and the total receipts as aforesaid in any month, only to the two months next succeeding that month. Source: Tinian Local Initiative 1, § 61; amended by TLL 21-9, § 4 (§ 2582) (Mar. 30, 2020).