(a) Imposition.--Each licensed operator shall report to the department and pay from its monthly fantasy contest adjusted revenues, on a form and in the manner prescribed by the department, a tax of 15% of its monthly fantasy contest adjusted revenues.
(b) Deposits and distributions.--
(1) The tax imposed under subsection (a) shall be payable to the department on a monthly basis and shall be based upon monthly fantasy contest adjusted revenue derived during the previous month.
(2) All funds owed to the Commonwealth under this section shall be held in trust for the Commonwealth by the licensed operator until the funds are paid to the department.
(3) The tax imposed and collected by the department under subsection (a) shall be deposited into the General Fund.
(c) Penalty.--
(1) A licensed operator who fails to timely remit to the department the tax imposed under this section shall be liable, in addition to any sanction or penalty imposed under this chapter, for the payment of a penalty of 5% per month up to a maximum of 25% of the amounts ultimately found to be due, to be recovered by the department.
(2) Penalties imposed and collected by the department or the board under this subsection shall be deposited into the General Fund.
Cross References. Section 331 is referred to in sections 324, 325, 326, 333, 334 of this title.