Indiana § 4-38-2-2 - "Adjusted gross receipts"
Full text of Indiana Indiana Code § 4-38-2-2 — "Adjusted gross receipts", with citation guidance and answers to common questions.
§ 4-38-2-2. "Adjusted gross receipts"
Sec. 2. "Adjusted gross receipts" means:
(1) the total of all cash and property (including checks received by a certificate holder, whether collected or not) received from authorized sports wagering offered by a certificate holder; minus
(2) the total of:
(A) all cash paid out as winnings to sports wagering patrons, including the cash equivalent of any merchandise or thing of value awarded as a prize; and
(B) uncollectible gaming receivables, not to exceed the lesser of:
(i) a reasonable provision for uncollectible patron checks received from sports wagering; or
(ii) two percent (2%) of the total of all sums (including checks, whether collected or not) less the amount paid out as winnings to sports wagering patrons.
For purposes of this section, a counter or personal check that is invalid or unenforceable under this article is considered cash received by the certificate holder from sports wagering.
As added by P.L.293-2019, SEC.43. Amended by P.L.146-2020, SEC.1.
Frequently Asked Questions About Indiana § 4-38-2-2
What does Indiana Code § 4-38-2-2 cover?
Section 4-38-2-2 (""Adjusted gross receipts"") is part of the Indiana Code, the codified statutory law of Indiana. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Indiana § 4-38-2-2?
A common citation format is "Indiana Code § 4-38-2-2" (Indiana). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Indiana law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Indiana official source linked on this page or consult a licensed Indiana attorney.
How does Indiana § 4-38-2-2 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Indiana can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Indiana.