(a) The provisions of this section shall not be effective unless the conditions set forth in subsection (b) of section 12-578aa have been met.
(b) A tax is hereby imposed on the gross receipts of each fantasy contest operator, as both terms are defined in section 12-578aa, at the rate of ten and one-half per cent. Each fantasy contest operator shall report and remit such tax to the Commissioner of Revenue Services in the form and manner prescribed by the commissioner.
(c) Any tax due and unpaid under this section shall be subject to the penalties and interest established in section 12-547 and the amount of such tax, penalty or interest, due and unpaid, may be collected under the provisions of section 12-35.
(d) The provisions of sections 12-548 and 12-550 to 12-555b, inclusive, shall apply to the provisions of this section in the same manner and with the same force and effect as if the language of said sections had been incorporated in full into this section and had expressly referred to the tax imposed under this section, except to the extent that any such provision is inconsistent with a provision of this section.
(June Sp. Sess. P.A. 17-2, S. 652.)
History: June Sp. Sess. P.A. 17-2 effective July 1, 2019, and applicable to income and taxable years commencing on or after that date.
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