Section 240.03 - Remittance(1) The excise taxes set out in 205 CMR 240.01 shall be due and payable to the Commission in monthly installments on or before 5:00 P.M. on the fifteenth calendar day following the calendar month in which the Adjusted Gross Sports Wagering Receipts or Adjusted Gross Fantasy Wagering Receipts were received by the Operator or person or entity offering fantasy contests, in accordance with 205 CMR 240.01.(2) On or before the fifteenth calendar day of each month a monthly remittance report shall be filed with the Commission in a form prescribed by the Commission setting forth the following: (a) the total gross sports wagering receipts and Adjusted Gross Sports Wagering Receipts from the operation of sports wagering during that month;(b) the tax amount for which an Operator is liable;(c) the total gross fantasy wagering receipts and Adjusted Gross Fantasy Wagering Receipts from the offering of fantasy contests, as defined in M.G.L. c. 12, § 11ML, during that month;(d) the tax amount for which a person or entity that offers fantasy contests, as defined in M.G.L. c. 12, § WA, is liable; and(e) any additional information necessary for the computation and collection of the tax on Adjusted Gross Sports Wagering Receipts and Adjusted Gross Fantasy Wagering receipts required by the Commission.(3) The tax shall be due and remitted by electronic funds transfer simultaneously with the filing of the remittance report.(4) When a monthly total for Adjusted Gross Sports Wagering or Adjusted Gross Fantasy Wagering Receipts is negative, the Operator or person or entity that offers fantasy contests may carry over the negative amounts to returns filed in subsequent months provided that sufficient documentation, as determined by the Commission, is submitted in support of the offset.Adopted by Mass Register Issue 1481, eff. 10/7/2022 (EMERGENCY).Amended by Mass Register Issue 1485, eff. 10/7/2022 (COMPLIANCE).