Ky. Rev. Stat. Ann. § 137.170 - Tentative State License Tax on Race Meetings.
137.170 Tentative state license tax on race meetings.
- 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.
- 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:
- 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.
| 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 |
Effective: July 1, 2024
- History: Amended 2024 Ky. Acts ch. 171, sec. 42, effective July 1, 2024. -- 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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