Rule 109:1-4-15 | Net profit from the proceeds of the sale of instant bingo.
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:
(A) 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;
(B) 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;
(C) 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;
(D) The amount actually expended to purchase and/or update a program utilized to track the sale of instant bingo tickets.
Last updated December 23, 2021 at 12:36 AM
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