LG100 Monthly Activity Summary

Select the red LG100 tab at the bottom of your screen.

The LG100 is an informational form intended for your organization’s internal use. With the exception of lines 35 and 37, all of the information completes automatically based on the amounts entered on the LG100A(s), LG100C, and LG100F.

The amounts shown combine the amounts reported for each site into a monthly summary for the gambling operation as a whole.

MULTIPLE SITES? DOUBLE CHECK ALLOCATED EXPENSES
For expenditures that were allocated among multiple sites, check the amount shown for that expense on the LG100. The LG100 total should match the actual payments as shown in your check register.

Lines 1 through 10
The LG100, Lawful Gambling Activity Summary, lists lawful gambling gross receipts, prizes, and net receipts for each activity in the same order, and using the same line numbers, as these totals are reported on the Department of Revenue’s G1, Lawful Gambling Monthly Tax Return. All paddlewheel income is included on the same line on both the LG100 and the G1. This is done so that the sum of the income amounts reported on the LG100 can more easily be transferred, when applicable, to the G1.

Line 29
Your organization’s net profit after state taxes on lawful gambling is computed by:

• subtracting prizes paid from gross receipts to get net receipts; then
• subtracting allowable expenses from net receipts to get net profit; then
• subtracting the state gambling tax and regulatory fee paid to the Dept. of Revenue.

Note that the combined net receipts tax rates increase once an organization’s net receipts from pull-tabs, linked bingo, and tipboards (excluding sports tipboards) total over $87,500 per year (July – June). As a result, the monthly profit shown on line 29 could be considerably larger in July when the tax rate is low than in June when the tax rate is higher—even though income and allowable expenses were the same in both months.

Line 30
Statute defines lawful purpose expenditures coded A1 – A7, A10 – A15, and A19 as “charitable contributions."

Line 31
“Taxes and fees” includes all expenditures listed on the LG100C that are coded A8 and A18 including local, state, and federal taxes on gambling, and licensing fees paid to the Gambling Control Board.

Line 32
“Other lawful purpose expenditures” includes expenditures listed on the LG100C that are coded A9, A16 – A17, and A20 – A26.

Line 34
This line shows the percentage of net receipts spent on lawful purpose expenditures for the current month.

Lines 35 and 37 - Lawful Purpose Percentage (Star Rating)
Lines 35 and 37 are used to bring the year-to-date (July through June) totals forward to the current month. When completing the LG100 for July, enter $0 on both lines. For all other months, enter the amounts from the previous month’s LG100, lines 36 and 38.

Line 39
Line 39 helps your organization monitor compliance with the minimum lawful purpose percentage requirement. Organizations are required to spend at least 30% (20% for organizations that only conduct gambling at a site where the primary business is bingo) of their net receipts on lawful purpose expenditures each year (July – June).

Line 40
The profit carryover figure represents the cumulative (starting with the very first monthly report filed by the organization) total value of the organization’s gambling assets less liabilities.

Line 41
Any amount on this line other than $0 indicates that your month-end bank balance does not reconcile with your profit carryover. Typically, this is the result of reporting errors made on the current or prior months’ GCBREPORTS. However, it could also indicate that money is missing from the gambling account or that money has been mistakenly deposited into the gambling account.

When finished with LG100, click on “File”, then “Save”.

Black “GCB USE” Tab
Do not attempt to enter any information or make any formatting changes to the “GCB USE” worksheet. It is formatted specifically to allow for the quick transfer of your data to the Gambling Control Board’s GCBREPORTS tables and to make the GCBREPORTS file function properly.