SB 130 - Slot Machine Wagering Tax

• Defines "taxable receipts" for racetrack casinos as adjusted gross receipts minus amounts paid under IC 4-35-7-12, IC 4-35-8.5, and IC 4-35-8.9 (supporting horse racing industry, county, and French Lick casino).

• Changes slot machine wagering tax calculation from adjusted gross receipts to taxable receipts, maintaining graduated rates of 25% on first $100 million, 30% on $100-200 million, and 35% on amounts exceeding $200 million.

• Implements daily taxable receipts calculation using a multiplier of 0.81 (or 0.82 after July 1, 2012) before county fee maximums are reached, and 0.84 (or 0.85 after July 1, 2012) after maximums are reached.

• Effective July 1, 2010, with provisions applying to state fiscal years beginning after June 30, 2010.