
Michigan.gov/mgcb MILLIONAIRE PARTY FINANCIAL STATEMENT All game records must be submitted to the Board by the 10th day of the month following the licensed gaming event.
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How to fill out the Michigan Millionaire Party online
Filling out the Michigan Millionaire Party financial statement is an essential part of ensuring compliance with state regulations for licensed gaming events. This guide will provide you with detailed instructions to help you accurately complete the form online.
Follow the steps to successfully complete the online form
- Press the ‘Get Form’ button to access the financial statement. This will allow you to open the document in the editor for online completion.
- Begin by entering the organization name and mailing address in the designated fields. Ensure that the city, state, and ZIP code are correct to maintain accurate records.
- Fill in the event date(s) where the gaming activities occurred. Provide all relevant event dates in the specified format.
- Enter your Organization ID number and License number. These identifiers are crucial for proper tracking and compliance with the Michigan Gaming Control Board.
- Document revenue from your gaming event by recording chip sales, buy-ins, and rebuys for each day of the event. Calculate total revenue from all days and input it accordingly.
- Report the retail value of donated prizes and calculate your total revenue by adding the total chip sales and donated prizes together.
- In the payout section, record all cash payouts and prizes from the event. Include merchandise prizes and total cash chip value to table for accurate calculations.
- After noting down all payout, prize, and seed amounts, calculate the total and determine the gross profit or loss by subtracting total payouts from total revenue.
- Fill out the expenses section by detailing all worker compensation, advertising costs, location rental fees, equipment rental, and any other expenses incurred during the event.
- Ensure that the total expenses do not exceed the maximum allowable amount as specified. Then calculate the net profit or loss for the event.
- Lastly, confirm whether charity game tickets or raffle tickets were sold. If yes, follow the instructions provided to obtain additional documentation.
- As the principal officer, certify that all information provided is accurate by signing, dating, and stating your title where indicated. Finally, save your completed form for submission.
Complete your Michigan Millionaire Party financial statement online today to ensure compliance and proper record-keeping.
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How much does a gaming license cost in Michigan?
Registration Renewal Agency:Michigan State Lottery - Charitable Gaming DivisionForm:Annual Charity Game Ticket License (Renewal)Agency Fee:$200Due:Annually by July 31.
How do I get a gaming license in Michigan?
You must first apply to the 's or the supplier's Human Resources Department. The MGCB will not process an occupational license application without a written statement that the /supplier has or intends to hire you.
What is a Millionaire Party Michigan?
ing to MCLS § 432.103a, Millionaire Party means "an event at which wagers are placed upon games of chance customarily associated with a gambling through the use of imitation money or chips that have a nominal value equal to or greater than the value of the currency for which they can be exchanged."
How much does a gambling license cost in Michigan?
Employees/Occupational License Fees and Information Type of LicenseNon-Refundable Application FeeLicense FeeLevel 1$500$250Level 2$100$100Level 3$50$50
What is a Michigan gaming license?
The Michigan Gaming Control Board provides for the licensing, regulation and control of gaming operations at the Detroit commercial s. It also licenses and regulates the s' gaming equipment manufacturers and distributors, suppliers and employees.
How do I get a Level 2 gaming license in Michigan?
An application along with a $100 application fee must be submitted to the Michigan Gaming and Control Board. Finally, a background examination must be completed and a $100 license fee submitted.
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