137.180 Report and payment of tentative state license tax -- Civil penalty for

290 words·~1 min read·/ky/137-180

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

nonpayment.

(1)Each person engaged in the business of conducting a race track shall, on or before

thirty

(30)days following the close of each duly licensed race meeting, furnish the

Department of Revenue a verified report of the number of days on which races were

conducted on that race track during the race meeting, together with a statement of

its daily mutuel handle for each day during the meeting, and at the same time pay to

the state the tentatively correct amount of the license tax apparently due it pursuant

to KRS 137.170.

(2)On or before December 31 in each year, each person engaged in the business of

conducting a race track shall file a final report with the Department of Revenue

giving in summary form a recapitulation of the information furnished by the

previous tentative reports filed during the year, computing the final license tax due

the state for the year ending November 30 and showing the amount of tentative

license tax actually paid during the year. Any balance of license tax due the state as

shown on the final report shall be paid at the same time as the filing. Any

overpayment in license tax disclosed by the final report shall, at the option of the

taxpayer, be promptly refunded by the state or credited against the license tax to be

due from the taxpayer in the following year.

(3)Any person who violates any provision of this section or KRS 137.170 shall be

subject to the uniform civil penalties imposed pursuant to KRS 131.180 and interest

at the tax interest rate as defined in KRS 131.010(6) upon the unpaid amount from

the date prescribed for its payment until payment is actually made to the

department.