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As used in this subsection, "annual combined Tier 1 and Tier 2 wagers" means the total number of individual wagers placed with the licensee, regardless of outcome or payout in a given fiscal year. (d-10) The accrual method of accounting shall be used for purposes of calculating the amount of the tax owed by the licensee. (d-15) The taxes levied and collected pursuant to subsections (d) (d-5), and (d-7) are due and payable to the Board no later than the last day of the month following the calendar month in which the adjusted gross sports wagering receipts were received and the tax obligation was accrued. (d-20) In addition to all other taxes and payments owed under this Act, any wagers offered under this Act shall be subject to incur a transaction tax equal to the 1.75% of each exchange wager. After the first five million exchange wagers conducted by a licensee during a fiscal year, the transaction tax imposed under this subsection shall increase to 3.5% of each exchange wager. The tax levied under this subsection shall be deposited monthly into the Sports Wagering Fund. The Board shall certify all amounts deposited into the Sports Wagering Fund under this subsection to the State Comptroller. The State Comptroller shall direct and the State Treasurer shall transfer that certified amount from the Sports Wagering Fund to the General Revenue Fund. SB3019 Enrolled LRB104 20255 HLH 33706 b Public Act 104-0468