Looking for a Kentucky Tax Forms And Templates? Download it for free!

PART IV—ADMISSIONS REPORT BY TRACKS CONDUCTING LIVE RACING

21. Admissions of track employees, owners or trainers of horses, jockeys or their employees ..................................

22. All other admissions (including admissions on rain checks) .................................................................................

23. Total persons entering track (add lines 19 and 20) ................................................................................................

24. Total admissions for meeting to date .....................................................................................................................

INSTRUCTIONS

General—Prepare this report in duplicate. The original report, with remittance of the tax due payable to the Kentucky State Treasurer, should be

mailed to the Kentucky Department of Revenue, Frankfort, Kentucky 40619. A copy of the report should also be submitted to the Kentucky Horse

Racing Commission. Simulcast facilities who complete only PART III, should file the original report with the Kentucky Department of Revenue

and send a copy of the return along with the total amount due from line 20, payable to the Kentucky Horse Racing Commission, 4063 Iron Works

Parkway, Lexington, Kentucky 40511. The report must be filed no later than the fifth business day (excluding Saturday and Sunday) following

the close of each week of racing. A race week will consist of races conducted beginning on Monday and ending on Sunday.

Daily average live handle is computed from the amount wagered at tracks conducting races, including historical racing, only and does not include

money wagered at a receiving track, at a simulcast facility, on telephone account wagering, through advance deposit account wagering, or at a track

participating as a receiving track or simulcast facility displaying simulcasts and conducting interstate wagering as permitted by KRS 230.3771

and 230.3773.

The tax rates for harness racing on line 2 and the rates for the Standardbred Development Fund and the Quarter Horse, Appaloosa and Arabian

Development Fund on lines 10 and 11 include an additional non-tax allocation of .0025 for these development funds as found in KRS 230.750.

Admissions Tax—Part IV of this report is required to be completed for all race meetings except county fairs conducting harness racing. Line 22

includes all persons, except those listed on line 21, entering the grounds or enclosure of any race track at which a race meeting is being conducted

for the purpose of attending the races or for any other purpose connected therewith. Race tracks conducting live horse races under the jurisdiction

of the Kentucky Horse Racing Commission must report and pay the tax at a rate of 15 cents for each admission listed on line 22. This report is

due within 30 days of the end of the meet.

License Tax—Race tracks conducting live horse races under the jurisdiction of the Kentucky Horse Racing Commission must, within 30 days of the

end of each race meet, report and pay a license tax for each day of racing based on the average daily mutuel handle of the preceding race year.

The license tax rate is as follows:

Average Daily Live Mutuel Handle

License Tax

0—$ 25,000

$ 25,001—$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

In addition, these tracks must file an annual report, due by December 31 of each year, giving a summary of the average daily handle of the race

year concluded on the immediate preceding November 30 and pay any additional license tax due.

Interest—The “tax interest rate,” provided by KRS 131.183, will be assessed from the original due date of the return until the date of payment.

Late Payment Penalty—If the amount of tax due as shown on lines 16 and 20 is not paid by the original due date of the return, a penalty of

2 percent of the tax computed due may be assessed for each 30 days or fraction thereof that the tax is past due, not to exceed 20 percent. The

minimum penalty is $10. However, if the amount timely paid is 75 percent of the tax determined due by the Department of Revenue, no late

payment penalty will be assessed.

Late Filing Penalty—If a return is not filed by the due date or the extended due date, a penalty of 2 percent of the total tax due for each 30 days

or fraction thereof that a return is not filed may be assessed, not to exceed 20 percent. The minimum penalty is $10.

Additional penalties for negligence, failure to file the report or return, fraud, etc., may be assessed in accordance with KRS 131.180 (Uniform

Civil Penalty Act).

Note: Penalties but not interest may be reduced or waived if reasonable cause for reduction or waiver can be shown.

For assistance or additional information, contact the Excise Tax Section, Station 62, Department of Revenue, Frankfort, Kentucky 40620, (502)

564-4409.

Form 73a100 - Race Track Pari-Mutuel And Admissions Report - Commonwealth Of Kentucky Department Of Revenue Page 2

Related Articles

Related forms

Related Categories