The Nevada Gaming Commission is delaying a $3.1 million tax return to the owner of 41 casinos, including Dotty’s, so that they can think again about whether interest should be paid on the overpayment because the company took so long to ask for the refund.
Nevada Gaming Commission Delays $3.1M Casino Tax Refund to Debate Interest Payments
According to the Las Vegas Review Journal, the owner of 41 casinos in Nevada, including Dotty’s and Bourbon Street Sports, paid over $3 million too much in gaming taxes over 32 months starting in August 2021.
The company, Nevada Restaurant Services Inc. (NRSI), found out about this mistake because they didn’t properly deduct certain amounts from their earnings. Now, they want the state to give the money back, but the Nevada Gaming Commission is delaying the refund to discuss whether they should also pay interest on it.
Delayed Casino Tax Refund Could Increase as Nevada Gaming Commission Reconsiders Interest Payments
If a new deal is put forward in September, the commission might look at this again. Until then, though, the interest keeps adding up, which could make the end refund even bigger. This shows how important it is to move quickly on tax issues so that the state doesn’t have to pay more money.