Iowa Code 99B.16 – Records and reports — licensed qualified organization
Current as of: 2023 | Check for updates
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1. A qualified organization licensed pursuant to section 99B.12, unless otherwise provided, shall maintain proper books of account and records showing, in addition to any other information required by the department, the following:
a. Gross receipts and the amount of the gross receipts taxes collected or accrued with respect to gambling activities conducted by the licensed qualified organization.
b. All expenses, charges, fees, and other deductions.
c. The cash amounts, or the cost to the licensee of goods or other noncash valuables, distributed to participants in the licensed activity.
d. The amounts dedicated and the date and name and address of each person to whom distributed.
Attorney's Note
Under the Iowa Code, punishments for crimes depend on the classification. In the case of this section:| Class | Prison | Fine |
|---|---|---|
| Serious misdemeanor | up to 1 year | between $430 and $2,560 |
Terms Used In Iowa Code 99B.16
- Department: means the department of inspections and appeals. See Iowa Code 99B.1
- following: when used by way of reference to a chapter or other part of a statute mean the next preceding or next following chapter or other part. See Iowa Code 4.1
- Gambling: means any activity where a person risks something of value or other consideration for a chance to win a prize. See Iowa Code 99B.1
- Gross receipts: means the total revenue received from the sale of rights to participate in a game of skill, game of chance, bingo, or raffle and admission fees or charges. See Iowa Code 99B.1
- Licensed qualified organization: means a qualified organization that is issued a license under this chapter and that complies with the requirements for a qualified organization issued a license under this chapter. See Iowa Code 99B.1
- person: means individual, corporation, limited liability company, government or governmental subdivision or agency, business trust, estate, trust, partnership or association, or any other legal entity. See Iowa Code 4.1
- Qualified organization: means an organization that has an active membership of not less than twelve persons, does not have a self-perpetuating governing body and officers, and meets any of the following requirements:a. See Iowa Code 99B.1
- year: means twelve consecutive months. See Iowa Code 4.1
2. The books of account and records shall be made available to the department or a law enforcement agency for inspection at reasonable times, with or without notice. A failure to permit inspection is a serious misdemeanor.3. A licensed qualified organization required to maintain records shall submit an annual report to the department on forms furnished by the department. The annual report shall be submitted by January 31 of each year for the prior calendar year period of January 1 through December 31.