Legal Resources - Tax Rules

Tax Rules: Final: 5703-23

5703-23-01 - Payment of horseracing tax

(A) For each racing day, the permit holder shall prepare and transmit to the tax commissioner a daily report, on a form prescribed by the tax commissioner, showing for each race and simulcast the amount wagered on win, place, or show and the breakage thereon, the amount wagered on other than win, place, or show and the breakage thereon, the capital improvement allowance, if any, the amount of tax due, and any other information required by the commissioner relative to the levying of the tax. The daily report shall be signed by the permit holder or his authorized agent. The report shall be filed with the commissioner by United States mail or by personal delivery to an office of the department of taxation, unless the commissioner specifies a different method of filing. The report shall be mailed or personally delivered by twelve noon of the calendar day following the racing day.

(B) At the close of each racing day, the permit holder shall issue a check, draft, or money order, payable to the tax commissioner, for the sum of the tax due from all wagering on races and simulcasts conducted on that racing day. This payment shall be remitted to the commissioner with the daily report required by paragraph (A) of this rule for that racing day.

(C) With the report required by paragraph (A) of this rule, the permit holder shall enclose a copy of the computer printouts, worksheets, and any other documents which clearly show in detail the amounts wagered in the various wagering pools for each race and simulcast from which the tax was computed and a copy of the program for that racing day.

Effective: 1-1-83

Promulgated under: 5703.14

Amplifies: 5703.14, 3769.08, 3769.087, 3769.10