South Carolina Code of Laws — Title 12 (Taxation)

S.C. Code Ann. § 12-21-4100

Record keeping and reporting requirements

Official textscstatehouse.gov12 subsections

# (A)

Each licensed nonprofit organization conducting bingo games shall submit quarterly to the department on the last day of the month following the close of the calendar quarter a report under oath containing the following information:

# (1)

the amount of the gross proceeds derived from the games;

# (2)

each item of expense incurred or paid;

# (3)

each item of an expenditure made or to be made, with a detailed description of the merchandise purchased or the services rendered;

# (4)

the net proceeds derived from the games;

# (5)

the use to which the proceeds have been or are to be applied;

# (6)

a list of prizes offered and given, with their respective values;

# (7)

excess proceeds as provided in Section 12-21-4000(12)(b);

# (8)

number of players at each session;

# (9)

other information considered necessary by the department.

# (B)

Each licensed nonprofit organization shall maintain records to substantiate the contents of each report.

# (C)

The department may revoke the license of an organization that fails to file the reports and information required in this article.

Last amended: 1996 Act No. 449, SECTION 1.

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