LG820 Raffle Inventory and Sales Log |
The LG820 Raffle Inventory and Sales Log is used to help with recordkeeping and is completed for each raffle or set of raffle tickets to record:
The LG820 shows which tickets or certificates of participation have been given to sellers, the amount of cash received from their sales, which tickets or certificates are unsold, and where possible cash discrepancies, if any, have occurred. |
LG821 Physical Inventory/Raffles |
The LG821 Physical Inventory/Raffles is used to record the actual game cost of all raffle tickets or certificates of participation in inventory or in play but not yet completed. Once the raffle is conducted, the cost of the raffle tickets or certificates is no longer included in the inventory.
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LG830 Merchandise Prize Perpetual Inventory | Complete the LG830 to record the purchase and distribution of merchandise prizes and certificates for merchandise. |
Each month, an organization must report to the Gambling Control Board raffle gross receipts, prizes paid, net receipts, and cash variances. Organizations must submit this information in an electronic file which includes the LG100A Receipts and Expenses by Site.
In addition, each month, an organization must submit a G1 Lawful Gambling Monthly Tax Return to the Department of Revenue, reporting raffle gross receipts, prizes paid, and net receipts. G-1 forms and instructions are available from the Department of Revenue.
An organization must keep the following raffle records in a secured area not susceptible to flooding for 3½ years:
If a licensed organization conducts a raffle for which the net proceeds are used exclusively to help relieve the effects of poverty, homelessness, or disability for an individual or a family, refer to the Department of Rebenue's Minnesota Lawful Gambling Tax Forms and Instructions booklet for reporting instructions. Or, contact Revenue’s Lawful Gambling Tax Unit at 651-297-1772 for assistance.
Tax-exempt raffles are reported on the LG100A in the same manner as all other raffles.