NIGC Announces Notice of New Proposed Fee Rates

In mid-November 2017, the National Indian Gaming Commission (NIGC) announced a Notice of New Proposed Fee Rates regarding the frequency and timing of its announcement of fees pursuant to 25 CFR Part 514. In prior years, the NIGC set the preliminary fee rate by March 1st and the final fee rate by June 1st of each year. The new proposed rule […]

NIGC Announces Notice of Proposed Rulemaking

In late September 2017, the National Indian Gaming Commission (NIGC) announced a Notice of Proposed Rulemaking (NPRM). The proposed NPRM to part 547 technical standards amends the Class II technical standards to remove the sunset date for the operation of certain Class II gaming systems and permits the continued operation of “grandfathered gaming systems” with added safeguards to ensure the […]

2016 Indian Gaming Revenues Increased 4.4%

The National Indian Gaming Commission recently released the Fiscal Year 2016 Gross Gaming Revenue numbers. The revenues totaled $31.2 billion, an increase of 4.4%. NIGC Chair, Jonodev O. Chaudhuri, contributes the increase to the Indian Gaming Regulatory Act’s promotion of tribal self-determination principles. Revenues are calculated based on 484 audited financial statements, comprised of 244 federally recognized Tribes across 28 […]

NAFOA Policy Alert: Relief Given to Tribal Government Audits on FASB-Based Financial Statements

The AICPA released Technical Questions and Answers, which provides some relief to tribal governments that issue FASB-based financial statements and represents AICPA’s view of what a CPA should consider when preparing the financial statements of a tribal government entity.  NAFOA’s Financial Management Advisory Committee has been in the process of advocating a solution that would allow tribal governments to use FASB […]

NIGC 2017 Final Fee Rate and Fingerprint Fees

The National Indian Gaming Commission has adopted its 2017 annual fee rates, which remain the same as the 2017 preliminary fee rates. The Tier 2 fee maintains the lowest fee rate since 2010. These rates apply to all assessable gross revenues from each gaming operation under the jurisdiction of the NIGC. If a Tribe has a certificate of self-regulation under […]

NIGC Updates Civil Monetary Penalties

In compliance with the Federal Civil Penalties Inflation Adjustment Act Improvements Act of 2015 (the “Act”) and Office of Management and Budget (OMB) guidance, the National Indian Gaming Commission (NIGC) is amending its civil monetary penalty rule to reflect an annual adjustment for inflation in order to improve the penalty’s effectiveness and maintain its deterrent effect. The Act provides that […]

FinCEN: Sharing Suspicious Activity Reports with US Parents and Affiliations of Casinos

On January 4, 2017, FinCEN released guidance FIN-2017-G001, Sharing Suspicious Activity Reports with U.S. Parents and Affiliates of Casinos. This guidance was issued to confirm that a Casino that has filed a Suspicious Activity Report (SAR) may share the SAR, or any information that would reveal the existence of the SAR, with each office or place of business of either the […]

GASB Invitation to Comment: Financial Reporting Model Improvements – Governmental Funds

In early December, the Governmental Accounting Standards Board (GASB) released an Invitation to Comment on Financial Reporting Model Improvements – Governmental Funds. GASB hopes to obtain stakeholder feedback on the potential improvements to the existing financial reporting model for governmental funds. The current reporting model presents information using the current financial resources measurement focus and modified accrual basis of accounting, […]

IRS Officially Drops Burdensome Gaming Proposals, Marking Big Win for Casino Patrons

On December 30, 2016, the IRS released the final regulation on the 2015 proposal for tax reporting of slot winnings. After the proposal was announced, the American Gaming Association (AGA) convened experts from member companies for regular meetings to assess each aspect of the proposal, build consensus, and formulate an effective response. The AGA filed comments on the draft IRS […]

Judge Suspends the DOL’s Overtime Rule

The Department of Labor’s (DOL) Overtime Rule (29 CFR Part 541) was recently blocked from going into effect on December 1, 2016, by U.S. District Judge Amos L. Mazzant III, a federal judge from the Eastern District of Texas. The emergency motion was granted at the request of tribal governments, 21 states, the U.S. Chamber of Commerce, and other like-minded […]

The DOL’s Overtime Rule Goes into Effect December 1, 2016

On December 1, 2016, the Department of Labor’s (DOL) overtime rule will go into effect. This ruling will significantly change the requirements for overtime exemption by raising the salary threshold at which eligible workers qualify for overtime pay from $23,660 to $47,476 per year. The modified salary threshold is equal to the 40th percentile of earnings of full-time salaried workers in […]

NIGC Reports Strong Growth in Tribal Industry

On July 19th, the National Indian Gaming Commission released data showing revenues generated by the Indian gaming industry in 2015, which totaled $29.9 billion. This is a 5% increase from the revenues generated in 2014 and marks the strongest rate of growth Indian County has seen in 10 years. A change from prior years in which some areas experienced decline […]

NIGC: Civil Penalty Inflation Adjustment

In response to FinCen’s release of 31 CFR Part 1010, Civil Monetary Penalty Adjustment and Table, the National Indian Gaming Commission released 25 CFR Part 575, Civil Penalty Inflation Adjustment. This rule adjusts the level of the civil monetary penalty with an initial “catch-up” adjustment and subsequent annual adjustments for inflation. The Office of Management and Budget (OMB) has provided a table […]

FinCEN: Civil Monetary Penalty Adjustment

On June 30, 2016, FinCEN released 31 CFR Part 1010, Civil Monetary Penalty Adjustment and Table. This release amends Bank Secrecy Act regulations to adjust the maximum/minimum amount range of certain civil monetary penalties to account for inflation. This increase implements requirements of the Federal Civil Penalties Inflation Adjustments Act of 1990 (FCPIA Act), as further amended by the Federal Civil […]

IRS Issue: Gaming Industry Vigilance Helps Correct a Possible Mistake

Last summer, when the IRS suggested lowering jackpot reporting thresholds from $1,200 to $600 the entire casino industry spoke out in opposition. The gaming industry was concerned that lowering the reporting threshold would create more paperwork for customers and employees, which would cause more downtime for machines, resulting in lower revenues. Due to the vigilance of the gaming industry, the […]

Nevada Casino Fined for Willful Disregard of Anti-Money Laundering Laws

The Sparks Nugget, Inc., dba John Ascuaga’s Nugget, in Sparks, Nevada admitted to the willful violation of anti-money laundering (AML) provisions of the Bank Secrecy Act (BSA). These violations let to a penalty of $1 million. Sparks Nugget failed to establish and implement an effective AML program, failed to report suspicious activity, and failed to secure and retain certain required […]

The BlueBird Certified Public Accountants Scholarship for Native American Accounting Students 2016 Recipient

  Congratulations to this year’s scholarship recipient, Cecilia Bowsley.  Cecilia is an enrolled tribal member of the Navajo Nation and a fluent Dine speaker.  Growing up on the Navajo reservation, Cecilia led a very agrarian lifestyle, which taught her perseverance and how to be self-sufficient.  Cecilia is a junior at Northern Arizona University and is expecting to graduate in May […]

Tribal Gaming Protection Network Participates at Indian Gaming Tradeshow & Convention

The Tribal Gaming Protection Network (TGPN) held several speaking sessions at the Indian Gaming Tradeshow & Convention in Phoenix, Arizona regarding: Boxing and Mixed Martial Arts (MMA) at Your Casino Part 1-2, Indian Gaming and Fed OSHA Part 1-2, and Preparing Your Commission for an Effective Investigation. TGPN is NIGA Chairman Steven’s initiative to share intelligence information with Tribes to […]

NIGC Preliminary Rates for 2016

The NIGC has lowered the preliminary annual fee rate for Tier 2 to 0.062%; the lowest rate adopted by the NIGC in five years. The NIGC is funded by tribal nations through Indian gaming operation revenue pursuant to IGRA and its regulations. The agency bases fees on a percentage of assessable gross revenues, which are paid quarterly to the agency. […]

IRS Alerts Payroll and HR Professionals to Phishing Scheme Involving W-2s

The IRS reports an emerging phishing email scheme that purports to be from company executives and requests personal information on employees, specifically through requesting W-2s. They suggest double checking the source of any emails that request you to share personal information about employees. IRS News Alert Click for More Information on Tax Security

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