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Form SIM-1 Simulcast Betting Facility Tax Return - Rhode Island
What Is Form SIM-1?
This is a legal form that was released by the Rhode Island Department of Revenue - Division of Taxation - a government authority operating within Rhode Island. As of today, no separate filing guidelines for the form are provided by the issuing department.
FAQ
Q: What is Form SIM-1?
A: Form SIM-1 is the Simulcast Betting Facility Tax Return.
Q: Who needs to file Form SIM-1?
A: Simulcast betting facilities in Rhode Island need to file Form SIM-1.
Q: What is a simulcast betting facility?
A: A simulcast betting facility is a location where people can watch and place bets on live horse races happening at other racetracks.
Q: What is the purpose of Form SIM-1?
A: The purpose of Form SIM-1 is to report and pay taxes on the wagers received at a simulcast betting facility.
Q: How often should Form SIM-1 be filed?
A: Form SIM-1 should be filed on a monthly basis.
Q: What information is required on Form SIM-1?
A: Form SIM-1 requires information such as total wagers received, total wagers paid out to bettors, and the amount of tax due.
Q: When is Form SIM-1 due?
A: Form SIM-1 is due on the 25th day of the following month.
Q: What happens if Form SIM-1 is filed late?
A: A penalty may be assessed for late filing of Form SIM-1.
Form Details:
- Released on April 1, 2021;
- The latest edition provided by the Rhode Island Department of Revenue - Division of Taxation;
- Easy to use and ready to print;
- Quick to customize;
- Compatible with most PDF-viewing applications;
- Fill out the form in our online filing application.
Download a fillable version of Form SIM-1 by clicking the link below or browse more documents and templates provided by the Rhode Island Department of Revenue - Division of Taxation.
