(A) A local gambling tax of 3% of the gross receipts from lawful gambling, lawful gambling less prizes actually paid by the organization, shall be paid to the city for the purpose of regulating such gambling. Such payment shall be made on a monthly basis, accompanied by a monthly report containing the following information upon such form as may be required:
(1) The total amount of receipts from lawful gambling activities during the reporting period.
(2) The total amount of prizes actually paid out by the organization during the reporting period.
(3) The signature of the person filing the return.
(4) The period covered by the return.
(B) All tax proceeds not utilized in conjunction with regulating such gambling shall be returned to the contributing organizations annually on a pro rata basis.
(Ord. 725, passed 8-8-88; Am. Ord. 924, passed 8-27-01) Penalty, see § 116.99