W. Va. Code R. § 179-5-27

Current through Register Vol. XLI, No. 36, September 6, 2024

Section 179-5-27 - Accounting for the state's share of gross terminal income

27.1. The gross terminal income from all operating video lottery terminals of a permittee shall be calculated monthly by the commission based on the calendar month.

27.2. The commission shall send a statement to each permittee of the following information for each machine covered by the permittee's permit that was in service for any portion of the calendar month covered by the calculations:

27.2.a. Credits played;

27.2.b. Credits won;

27.2.c. Gross terminal income;

27.2.d. Two percent of gross terminal income for the commission's administrative expenses;

27.2.e. Gross profits;

27.2.f. The commission's share rate applicable to gross profits for the current quarter; and

27.2.g. The commission's two percent of gross terminal income plus the commission's net terminal income to be swept from the permittee's account by electronic fund transfer.

27.3. Each licensed permittee shall maintain in its bank account an amount equal to or greater than the commission's two percent of gross terminal income plus the commission's net terminal income from its operation of video lottery machines, to be electronically transferred by the lottery commission on the tenth day of the month that follows the month for which the report is made. If the tenth day of the month falls on a Saturday, Sunday or legal holiday, as that term is defined in W. Va. Code § 2-2-1, the due date shall be the next day that is not a Saturday, Sunday or legal holiday.

27.4. If a permittee fails to maintain the bank account balance required in W.Va. Code § 29-22B-1401(b), the commission may disable all of a permittee's video lottery terminals until full payment of all amounts due is made;

27.4.a. If the commission receives a non-sufficient funds message from the permittee's depository bank:

27.4.a.1. The director shall suspend the permittee's license until the permittee has paid the full amount owed to the Lottery by cashier's check, or certified check, or money order, or cash, and also has paid the one hundred percent civil penalty provided for in W.Va. Code § 29-22B-1407(a); and

27.4.a.2. The director shall issue a warning letter containing an explanation the consequences of a future non-sufficient funds message; and

27.4.b. If the permittee does not settle for all moneys and penalties due to the commission within thirty days after the commission's demand for payment of non-sufficient funds amounts, the director shall recommend to the commission that the permittee's license and ten-year permit be revoked; and

27.4.c. If the commission receives three non-sufficient funds messages within any twelve consecutive month period, the director shall recommend to the commission that the permittee's license and ten-year permit be revoked.

27.5. Interest shall accrue on any unpaid balance due the commission at the rates charged for state tax delinquency under W.Va. Code § 11-10-17a;

27.5.a. The interest shall begin to accrue on the date payment is due to the commission and shall continue to accrue until the amount due, including applicable interest, is paid; and

27.5.b. Payments shall be applied first to interest and then to the balance of the amount due the commission.

27.6. The statement required in this section may be transmitted to the permittee by United States mail, facsimile or Internet e-mail.

W. Va. Code R. § 179-5-27