Worksheet Ec Instructions - Lawful Gambling Expense Calculation

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Worksheet EC instructions
Completing Worksheet EC
Use Worksheet EC, Lawful
Allowable expenses at the
Each month, complete the line on
12th and 21st months
Gambling Expense Calculation,
Worksheet EC for the month you are
To be eligible to continue gambling at the
to determine if your lawful
reporting.
end of the first 12 months of your license
gambling expenses are within
period, or eligible to renew your license,
Column H
the limits allowed by law.
Column J at the end of the 12th and 21st
If Column F is more than Column G,
months must be a positive amount.
subtract Column G from Column F and
You are allowed to use receipts from lawful
enter the result as a positive number.
If it’s not, you must provide proof to the
gambling activities to pay for certain types
board that you have reimbursed your
If Column G is more than Column F,
of expenses called “allowable” expenses. The
gambling account from a nongambling
subtract Column F from Column G and
amount you may spend is a percentage of
source by the 20th day of the following
enter the result as a negative number.
your receipts from lawful gambling.
month. (The required reimbursement is the
negative amount in Column J.)
Column J
If you conduct only bingo, allowable
expenses can be no more than 70 percent of
If Columns H and I are positive, add the
You must also send a copy of the worksheet
amounts and enter the total in Column J.
your net receipts from bingo (Form G1,
to the Gambling Control Board. Mail the
line 1C) minus the bingo portion of the tax
worksheet and proof of reimbursement to
If Columns H and I are negative, add the
(Form G1, line 11).
the Gambling Control Board.
amounts and enter the total in parentheses
in Column J.
If you conduct only pulltabs, tipboards,
Report the reimbursed amount on
paddlewheels and raffles, allowable
Form G1, line 35. If you reimburse the
If one column is negative and the other is
expenses can be no more than 55 percent of
account in the month following the month
positive, subtract the smaller amount from
the gross profits on line 10C of Form G1.
you are reporting, report the reimburse-
the larger amount. If the smaller amount is
ment on line 11e of Schedule F.
If you conduct bingo and other games, you
negative, enter the result without parenthe-
ses in Column J.
will need to determine the limits separately.
If you cannot reimburse your gambling
account, you will be required to immedi-
If the larger amount is negative, enter the
ately stop all gambling activities until the
result with parentheses in Column J.
reimbursement is made.
Note: Do not adjust either Column I or J to
If you need assistance, contact the Gam-
zero.
bling Control Board. Do not attach the
worksheet to your monthly return or mail it
to the Department of Revenue.

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