§ 4-31-9-10 — Payment of breakage and outs; distribution

Indiana § 4-31-9-10

• Jurisdiction: Indiana
• Art. 31: PARI-MUTUEL WAGERING ON HORSE RACES
• Ch. 9: Taxation and Distribution of Pari-Mutuel Revenues

Text

(a) At the close of each day on which
pari-mutuel wagering is conducted at a racetrack or satellite facility,
the permit holder or satellite facility operator shall pay the breakage
from each of the races on which wagers were taken on that day to the
department of state revenue for deposit in the appropriate breed
development fund as determined by the rules of the commission.
(b) Not later than March 15 of each year, each permit holder or
satellite facility operator shall pay to the commission the balance of the
outs tickets from the previous calendar year. The commission shall
distribute money received under this subsection to the appropriate
breed development fund as determined by the rules of the commission.
(c) The payment of the breakage under this section must be reported
and remitted electronically through the department's online tax filing
program.

Legislative History

As added by P.L.24-1992, SEC.33. Amended by P.L.159-2021, SEC.1; P.L.137-2022, SEC.4.