§ 1400. Legislative findings and purpose. 1. The legislature hereby finds and declares that: (a) Interactive fantasy sports are not games of chance because they consist of fantasy or simulation sports games or contests in which the fantasy or simulation sports teams are selected based upon the skill and knowledge of the participants and not […]
§ 1401. Definitions. As used in this article, the following terms shall have the following meanings: 1. “Authorized player” shall mean an individual located in New York state, who is not a prohibited player, that participates in an interactive fantasy sports contest offered by a registrant. 2. “Collegiate sport or athletic event” shall mean a […]
§ 1402. Registration. 1. (a) No operator shall administer, manage, or otherwise make available an interactive fantasy sports platform to persons located in New York state unless registered with the commission pursuant to section fourteen hundred three of this article. A registrant may use multiple interactive fantasy sports platforms and offer multiple types of contests, […]
§ 1403. Scope of registration review. 1. The commission shall prescribe the initial form of the application for registration which shall require, but not be limited to: (a) the full name and principal address of the operator; (b) if a corporation, the name of the state in which incorporated and the full names and addresses […]
§ 1404. Required safeguards, minimum standards. 1. As a condition of registration in New York state, each operator and registrant shall implement the following measures: (a) limit each authorized player to one active and continuously used account, and prevent prohibited players from maintaining accounts or participating in any contest offered by such operator or registrant; […]
§ 1405. Powers and duties of the commission. 1. The commission shall promulgate regulations to implement the provisions of and effectuate the policy and objectives of this article as the commission may deem necessary or advisable, including the development of the initial form of the application for registration. Such regulations shall provide for the registration […]
§ 1406. Annual report. 1. Each registrant shall annually submit a report to the commission no later than the thirtieth of June of each year, which shall include the following information as it shall apply to accounts held by authorized players located in New York state: (a) the number of accounts held by authorized players […]
§ 1407. State tax. For the privilege of conducting interactive fantasy sports contests in the state, registrants shall pay a tax equivalent to fifteen percent of their interactive fantasy sports gross revenue generated within the state; in addition, registrants shall pay a tax equal to one-half of one percent, but not to exceed fifty thousand […]
§ 1408. Additional regulatory costs. The commission may assess annually, in arrears, on each registrant proportional to the interactive fantasy sports gross revenue of such registrant in the preceding year compared to the aggregate interactive fantasy sports gross revenue of all registrants in the preceding year actual costs necessary to regulate in accordance with the […]
§ 1409. Disposition of taxes. 1. The commission shall pay into the state lottery fund all taxes imposed by this article; any interest and penalties imposed by the commission relating to those taxes; all penalties levied and collected by the commission; and the appropriate funds, cash or prizes forfeited from interactive fantasy sports. 2. The […]
§ 1410. Determination of tax liability. The commission may perform audits of the books and records of an interactive fantasy sports operator with a permit or registrant, at such times and intervals as it deems appropriate, for the purpose of determining the sufficiency of tax payments. If a return required with regard to obligations imposed […]
§ 1411. Contests authorized. Interactive fantasy sports contests registered and conducted pursuant to the provisions of this chapter are hereby authorized.
§ 1412. Contests prohibited. The conduct of unregistered interactive fantasy sports contests is prohibited.
