STEP ONE-TAX
PAYMENTS |
| Calculate your
gross revenues. Gross revenues equal all amounts wagered on
your gaming machines: |
115.00 |
| |
|
| Subtract from gross revenues
the amount you paid out for winnings, non-cash prizes, and
annuity payments, if any: |
- 15.00 |
| |
|
| The amount remaining is net
take: |
100.00 |
| |
|
| Subtract the gaming tax and
any applicable federal income taxes. The state gaming tax
for nonprofit gaming operator licensees is 10% of net take: |
- 10.00 |
| |
|
| This after-tax amount is available
for Step Two calculations: |
90.00 |
| |
|
STEP TWO—DISTRIBUTOR AND GAMING EXPENSE PAYMENTS
|
| You may use up to a total of
65% of the after-tax amount to pay distributors for furnishing
your gaming machines and to pay your allowable gaming expenses.
The maximum amount you can pay to a distributor is 40% of
the after-tax amount. |
|
| |
| Subtract the distributor's
percentage (40% or less, depending on your contract with the
distributor): |
- 36.00 |
| |
|
| Subtract the amount available
for gaming expenses, which is 65% minus the percentage paid
to the distributor (in our example, 65% - 40% = 25%): |
- 22.50 |
| |
|
| The amount remaining is the
balance of net take. This is the amount that is subject to
the 60/40 split for charitable or educational purposes in
Step Three. |
31.50 |
| |
STEP THREE-CHARITABLE
AND EDUCATIONAL PAYMENTS |
| Subtract the amount that must
be used for charitable or educational purposes. According
to the Gaming Control Act, the amount must be at least 60%
of the balance of net take: |
- 18.90 |
| |
|
| The nonprofit operator licensee
may use this remaining amount for any purpose: |
12.60 |
