109:1-4-13. Net profit from the proceeds of the sale of instant bingo

(A) For the purposes of division ( RR) of section 2915.01 of the Revised Code, the term "ordinary, necessary, and reasonable expense expended for the purchase of instant bingo supplies" includes:

(1) The purchase price of instant bingo tickets purchased by a veterans, fraternal or sporting organization for instant bingo as defined in division ( GG) of section 2915.01 of the Revised Code;

(2) Bank fees and interest actually expended to a financial institution that is a member of the federal deposit insurance corporation for the maintenance of a depository account devoted exclusively to bingo as defined in division ( GG) of section 2915.01 of the Revised Code;

(3) The amount actually expended to the Ohio attorney general's office for a license to conduct instant bingo as defined in division ( GG) of section 2915.01 of the Revised Code;

(4) The amount actually expended to purchase and/or update a program utilized to track the sale of instant bingo tickets.

Effective: 5/20/2019
Five Year Review (FYR) Dates: 10/24/2018 and 05/20/2024
Promulgated Under: 119.03
Statutory Authority: 2915.08(B)(1)
Rule Amplifies: 2915.101(A), 2915.01(RR)
Prior Effective Dates: 11/01/2008