S.D. Admin. R. 20:18:20.02:01
Current through Register Vol. 50, page 159, June 17, 2024
A licensee who engages in promotions to increase business and gaming at the licensee's business may not deduct payouts made pursuant to the promotion from adjusted gross income except for money, prizes, or tokens paid at face value directly to a patron as the result of a specific wager. A specific wager requires two or more persons to stake something of value on an event, the outcome of which is uncertain. If only one party risks something of value, there is no wager.
S.D. Admin. R. 20:18:20.02:01
General Authority: SDCL 42-7B-7, 42-7B-11(11).
Law Implemented: SDCL 42-7B-4(2), 42-7B-7, 42-7B-11(11), 42-7B-28, 42-7B-29, 42-7B-30, 42-7B-41.