(a) A game operator shall pay a tax for the privilege of conducting paid fantasy sports games under this chapter in an amount of eight percent (8%) of the game operator's gross paid fantasy sports game revenues from the previous state fiscal year.
(b) The special privilege tax levied in subsection (a) of this section shall be:
(1) Reported and remitted to the Department of Finance and Administration on a quarterly basis through the Arkansas Taxpayer Access Point or its successor on forms prescribed by the Secretary of the Department of Finance and Administration; and
(2) Subject to the Arkansas Tax Procedure Act, § 26-18-101 et seq.
(c) The secretary shall promulgate rules to administer the tax levied under this section.