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138.530 Administration and collection of tax -- Remittances -- Reports -Books
Records -- Distribution of tax revenue generated under KRS
138.513.
(1)
(2)
(3)
The department shall enforce the provisions of and collect the tax and
penalties imposed and other payments required by KRS 138.510 to 138.550,
and in doing so it shall have the general powers and duties granted it in KRS
Chapters 131 and 135, including the power to enforce, by an action in the
Franklin Circuit Court, the collection of the tax, penalties and other payments
imposed or required by KRS 138.510 to 138.550.
(a) The remittance of the taxes imposed by KRS 138.510 shall be made
weekly to the department no later than the fifth business day, excluding
Saturday and Sunday, following the close of each week of racing, during
each race meeting, and following the close of each week when historical
horse races are conducted, and shall be accompanied by reports as
prescribed by the department.
(b) Except as otherwise provided in KRS 138.510 to 138.550, all funds
received by the department from the taxes imposed by KRS 138.510 shall
be paid into the State Treasury and shall be credited to the general fund.
(c) The supervisor of pari-mutuel betting appointed by the commission shall
weekly, during each race meeting, and during each week when historical
horse races are conducted, report to the department the total amount bet
or handled the preceding week and the amount of tax due the state
thereon, under the provisions of KRS 138.510 to 138.550.
(d) The supervisor of pari-mutuel betting appointed by the commission or his
or her duly authorized representatives shall, at all reasonable times, have
access to all books, records, issuing or vending machines, adding
machines, and all other pari-mutuel equipment for the purpose of
examining and checking the same and ascertaining whether or not the
proper amount or amounts due the state are being or have been paid.
(e) Every person, corporation, or association required to pay the tax imposed
by KRS 138.510 shall keep its books and records so as to clearly show by
a separate record the total amount of money contributed to every
pari-mutuel pool.
(a) The remittance of the tax imposed by KRS 138.513 shall be made weekly
to the department no later than the first business day of the week next
succeeding the week during which the wagers forming the base of the tax
were received.
(b) Along with the remittance of the tax, each advance deposit account
wagering licensee shall file a return that includes the information required
by the department.
(c) Every advance deposit account wagering licensee shall keep its books
and records in such a manner that:
1.
Kentucky residents having accounts with the advance deposit
account wagering licensee can be individually identified and their
identity and residence verified; and
2.
The amount wagered through each account held by a Kentucky
(d)
(e)
resident and the date of each wager can be determined and verified.
All books and records of the advance deposit account wagering licensee
required by paragraph (c) of this subsection and any books and records
that the department requires a licensee to maintain through promulgation
of an administrative regulation shall be open to inspection by the
department and the commission.
All revenue received by the department from the tax imposed by KRS
138.513 shall be distributed as follows:
1.
Fifteen percent (15%) shall be distributed to the Commonwealth and
credited to the general fund; and
2. a.
Eighty-five percent (85%) of revenue received from a wager
placed on a race conducted at a track in Kentucky shall be
distributed to the association that conducted the race;
b.
Eighty-five percent (85%) of revenue received from a wager
placed on a race conducted at a track outside Kentucky shall
be distributed to the Kentucky track that is recognized as the
host track by the commission at the time the wager is placed.
However, if a wager subject to the tax imposed by KRS
138.513 is placed on a race conducted at a track outside
Kentucky, and the individual placing the wager has registered
an address with the advance deposit account wagering
licensee that is within twenty-five (25) miles of a Kentucky
track, the association licensed by the commission to operate
that track shall receive the tax revenue derived from that
wager; and
c.
An association receiving distributions under subdivisions a.
and b. of this subparagraph shall allocate one-half (1/2) of the
amount distributed to its purse account.
Effective:April 10, 2014
History: Amended 2014 Ky. Acts ch. 102, sec. 9, effective April 10, 2014. -Amended 2010 Ky. Acts ch. 24, sec. 108, effective July 15, 2010. -- Amended
2009 (1st Extra. Sess.) Ky. Acts ch. 1, sec. 108, effective June 26, 2009. -Amended 2005 Ky. Acts ch. 85, sec. 391, effective June 20, 2005. -- Amended
2004 Ky. Acts ch. 191, sec. 49, effective July 13, 2004. -- Amended 1998 Ky.
Acts ch. 237, sec. 2, effective July 15, 1998. -- Amended 1992 Ky. Acts ch. 109,
sec. 9, effective March 30, 1992. -- Created 1948 Ky. Acts ch. 35, sec. 3.
Legislative Research Commission Note (4/10/2014). 2014 Ky. Acts ch. 102, sec.
39 provides that the amendments to this statute made in 2014 Ky. Acts ch. 102,
sec. 9, shall apply retroactively beginning September 1, 2011.
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