137.170 Tentative state license tax on race meetings.

183 words·~1 min read·/ky/chapter-137/137-170

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

(1)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 and Gaming Corporation, shall pay a tentative license tax

to the state, as provided in subsection

(2)of this section.

(2)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

(3)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.