Md. Code Regs. 36.10.12.03

Current through Register Vol. 51, No. 22, November 1, 2024

Section 36.10.12.03 - Obligation to Pay

A. A tax that is due and payable shall be paid by an applicant or licensee and collected in accordance with State and federal law.

B. A sports wagering licensee shall submit monthly sports wagering tax returns to the Commission by the 5th day of the following month.

C. If monthly sports wagering taxes are due, the licensee shall pay them to the Commission by wire transfer by the 5th day of the following month.

D. If, by the seventh calendar day of the month, a sports wagering licensee fails to submit a properly completed sports wagering tax return and all taxes due to the Commission, the sports wagering license shall be automatically suspended.

E. If a sports wagering license is suspended under of this regulation, the Commission may lift the license suspension after the licensee submits the tax return and the tax payment.

F. For a fee or penalty:

(1) The Commission shall issue an invoice or other order to pay; and

(2) An applicant or licensee shall remit payment to the Commission within 30 days after the date of the invoice or order to pay.

G. Reconciliation of Gross Sports Wagering Receipts.

(1) If a sports wagering licensee returns to successful bettors more than the amount of money wagered on a sporting event, the sports wagering licensee may subtract the difference between the amount wagered and the amount returned to bettors from its proceeds of up to 3 months.

(2) A sports wagering licensee may not subtract losses under §G(1) of this regulation for more than 3 consecutive months.

Md. Code Regs. 36.10.12.03

Amended effective 49:1 Md. R.16, eff. 1/13/2022; amended effective 49:15 Md. R. 740, eff. 7/25/2022