Sec. 0.7. (a) This section applies only to a licensed owner described in IC 4-33-6-1(a)(1).
(b) Adjusted gross receipts received by two (2) riverboats operated by the licensed owner in accordance with IC 4-33-6-1(d) must be taxed separately under this chapter regardless of the fact that the riverboats are operated under a single license.
(c) This subsection applies to a state fiscal year ending before July 1, 2025. Beginning on the day that the licensed owner begins gaming operations at a new riverboat sited at a location approved under IC 4-33-6-4.5, the adjusted gross receipts received by the riverboat must be taxed under this chapter as if the adjusted gross receipts were received from two (2) riverboats. The licensed owner shall allocate the adjusted gross receipts received by the riverboat into two (2) separate tax bases proportionally to the amount of adjusted gross receipts that each riverboat operating from a dock in Gary received in the state fiscal year ending June 30, 2018. The licensed owner's tax liability under this chapter is determined by applying:
(1) the tax rate determined under section 1.5(b) for the docked riverboat that had the greater amount of adjusted gross receipts in the state fiscal year ending June 30, 2018, to the larger of the two (2) tax base allocations; and
(2) the tax rate determined under section 1.5(b) for the docked riverboat that had the lesser amount of adjusted gross receipts in the state fiscal year ending June 30, 2018, to the smaller of the two (2) tax base allocations.
(d) For state fiscal years beginning after June 30, 2025, adjusted gross receipts received by a riverboat sited at a location approved under IC 4-33-6-4.5 are subject to taxation under this chapter as adjusted gross receipts received from a single riverboat.
As added by P.L.293-2019, SEC.23.