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Does a nonprofit have to pay taxes on the money it raises from gaming events?

April 26, 2017events gaming money nonprofit pay raises taxes

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Does a nonprofit have to pay taxes on the money it raises from gaming events?

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Yes, within 10 days after conducting a raffle, casino or Las Vegas night or poker tournament, the nonprofit organization must pay a five percent tax on the gross proceeds to the Lottery Commission. The Lottery Commission will send the required forms to the nonprofit after the permit is issued.