Virginia law § 18.2-340.31 mandates that reports related to charitable and electronic gaming are subject to audits by the Department of Virginia, which may hire independent auditors. The law also establishes a reasonable audit and administration fee, capped at 0.5% of gross receipts or electronic gaming adjusted gross receipts, payable quarterly. Additional fees of 0.25% of gross receipts may also be imposed on organizations.
The Virginia Department of Gaming is responsible for auditing reports related to charitable and electronic gaming, possibly engaging independent auditors.
The Department prescribes a fee not exceeding 0.5% of gross receipts or electronic gaming adjusted gross receipts, payable quarterly.
Yes, an additional fee of 0.25% of gross receipts or electronic gaming receipts may be imposed on organizations.
Fees are paid to the Treasurer of Virginia and are used solely for auditing and regulating charitable gaming activities.