Indiana Code 4-33-12-0.7. Taxation of adjusted gross receipts of Gary riverboats
(b) Adjusted gross receipts received by two (2) riverboats operated by the licensed owner in accordance with IC 4-33-6-1(d) must be taxed separately under this chapter regardless of the fact that the riverboats are operated under a single license.
Terms Used In Indiana Code 4-33-12-0.7
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
- Year: means a calendar year, unless otherwise expressed. See Indiana Code 1-1-4-5
(1) the tax rate determined under section 1.5(b) for the docked riverboat that had the greater amount of adjusted gross receipts in the state fiscal year ending June 30, 2018, to the larger of the two (2) tax base allocations; and
(2) the tax rate determined under section 1.5(b) for the docked riverboat that had the lesser amount of adjusted gross receipts in the state fiscal year ending June 30, 2018, to the smaller of the two (2) tax base allocations.
(d) For state fiscal years beginning after June 30, 2025, adjusted gross receipts received by a riverboat sited at a location approved under IC 4-33-6-4.5 are subject to taxation under this chapter as adjusted gross receipts received from a single riverboat.
As added by P.L.293-2019, SEC.23.