A. Gross proceeds derived from a raffle are the total receipts from the sale of all tickets certain among which entitle
holders to prizes, as determined by chance after the sale.
B. Gross proceeds derived from a bazaar
are the total receipts from the sale of all tickets, pr, other evidences of
chance for the disposal (by means of chance) of awards permitted under Section 7A of Chapter 271 of the General
Laws.
C. Any organizations conducting a raffle or bazaar MUST FILE a return and PAY a tax of FIVE PER CENT of the
GROSS PROCEEDS within TEN DAYS after each raffle or bazaar. See Section 7A of General Laws Chapter 271
as inserted by Chapter 810 of the Acts of 1968 and amended by Chapter 219 of the Acts of 1977.
D. INTEREST AND PENALTY
1. Interest
- Charged at 12% from date due to date paid.
2. Penalty for Late Filing of Return
- One percent of the tax due for each month or part thereof from date return due
to the date filed up to a maximum of 25% the tax due.
3. Penalty for Late Payment of Tax
- One-half of one percent of the tax due for each month or part thereof from the
date tax due to the date paid up to a maximum of 25% of the tax due.
E. Adequate books and records must be maintained and kept to substantiate compliance with the five per cent gross
proceeds tax. For tax auditing purposes, such books and records should preserved and available for a period of
three years after each return is filed.
I DECLARE UNDER THE PENALTIES OF PERJURY THAT THIS RETURN HAS BEEN EXAMINED BY ME AND TO
THE BEST OF MY KNOWLEDGE AND BELIEF IS A TRUE, CORRECT AND COMPLETE RETURN.
SIGNATURE OF AUTHORIZED OFFICIAL TITLE DATE
RESIDENCE ADDRESS
CITY OR TOWN ZIP
COMMENTS AND/OR COMPUTATION OF PENALTIES AND INTEREST
AREA HOME PHONE
AREA BUSINESS TELEPHONE NO.
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