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2012 Indiana Attorney General Reports and Opinions 1 (2012)

handle is hein.sag/sagin0029 and id is 1 raw text is: STATE OF INDIANA OFFICE OF THE ATTORNEY GENERAL INDIANA GOVERNMENT CENTER SOUTH, FlIHE FLOOR GREG ZOELLER 302 W. WASHINGTON STREET * INDIANAPOLIS, IN 46204-2770 TELEPHONE: 317.232.6201 INDIANA ATIORNEY GENERAL www.AttorneyGeneral.INgov FAX: 317.232.7979 March 7, 2012 OFFICIAL OPINION 2012-1 Honorable Luke Kenley State House 200 West Washington Street Indianapolis, Indiana 46204 RE: Taxation of Set Aside Amounts under Slot Machine Wagering Tax Law Dear Senator Kenley, By letter of February 1, 2012, you posed a question with respect to the Racino Law, which was passed by the General Assembly in 2007 and authorizes additional gambling in the form of electronic gaming devices, including slot machines, at horse race tracks (also known as racinos). The Racino Law requires racinos to set aside an amount equal to 15% of each prior month's adjusted gross receipts received from slot machine wagering (hereinafter set aside or set aside amounts). Ind. Code § 4-35-7-12. The set aside amounts are deposited into fhnds managed by the Indiana Horse Racing Commission, Id. Indiana's slot machine wagering tax, Ind. Code § 4-35-8-1, imposes a graduated tax on the adjusted gross receipts a racino receives from slot machine wagering. Your question is: Whether set aside amounts under Ind. Code § 4-35-7-12 are subject to the graduated wagering tax (i.e., the slot machine wagering tax) under Ind. Code § 4- 35-8-1?