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137.170 Tentative state license tax on race meetings.
(1)
(2)
(3)
Every person engaged in the business of conducting a race meeting at which
live horse races are run for stakes, purses, or prizes, under the jurisdiction of
the Kentucky Horse Racing Commission, shall pay a tentative license tax to the
state, as provided in subsection (2) of this section.
Any race track for any year commencing December 1 and ending the following
November 30 for the days upon which races are actually conducted for any
stake, purse, or prize, shall pay a license tax based on the average daily
mutuel handle for the preceding year as follows:
Average Daily Mutuel Handle
License Tax
$0 - $25,000
$
0
$25,000 - $250,000
$ 175
$250,001 - $450,000
$ 500
$450,001 - $700,000
$1,000
$700,001 - $800,000
$1,500
$800,001 - $900,000
$2,000
$900,001 and above
$2,500
As used in subsection (2) of this section the term "daily mutuel handle" shall
mean the total gross amount of money bet or wagered by a race track's
patrons by means of pari-mutuel, combination, or French pools on live races
conducted by the track.
Effective:July 15, 2010
History: Amended 2010 Ky. Acts ch. 24, sec. 104, effective July 15, 2010. -Amended 2004 Ky. Acts ch. 191, sec. 46, effective July 13, 2004. -- Amended
1994 Ky. Acts ch. 65, sec. 6, effective July 15, 1994; and ch. 272, sec. 1,
effective July 15, 1994.
Amended 1992 Ky. Acts ch. 109, sec. 4, effective
March 30, 1992. -- Amended 1984 Ky. Acts ch. 240, sec. 1, effective July 13,
1984. -- Amended 1958 Ky. Acts ch. 33, secs. 1 and 2, effective June 19, 1958.
-- Amended 1942 Ky. Acts ch. 90, secs. 1 and 2. -- Recodified 1942 Ky. Acts
ch. 208, sec. 1, effective October 1, 1942, from Ky. Stat. secs. 4223b-6,
4223b-7.
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