Indiana § 4-31-9-3 Taxation of amount wagered each day; computation; distribution

Indiana Statutes

§ 4-31-9-3 — Taxation of amount wagered each day; computation; distribution

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

(a)At the close of each day on which a permit holder or satellite facility operator conducts pari-mutuel wagering on live racing or simulcasts at a racetrack or satellite facility, the permit holder or satellite facility operator shall pay to the department of state revenue a tax on the total amount of money wagered on that day as follows:

(1)Two percent (2%) of the total amount of money wagered under IC 4-31-7 at a permit holder's racetrack.

(2)Two and one-half percent (2.5%) of the total amount of money wagered under IC 4-31-5.5-6 at a permit holder's satellite facility.

(b)The taxes collected under subsection (a) shall be paid from the amounts withheld under section 1 of this chapter and shall be distributed as follows:

(1)The first one hundred fifty thousand dollars ($150,000) of

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(a) At the close of each day on which a permit
holder or satellite facility operator conducts pari-mutuel wagering on
live racing or simulcasts at a racetrack or satellite facility, the permit
holder or satellite facility operator shall pay to the department of state
revenue a tax on the total amount of money wagered on that day as
follows:
(1) Two percent (2%) of the total amount of money wagered
under IC 4-31-7 at a permit holder's racetrack.
(2) Two and one-half percent (2.5%) of the total amount of money
wagered under IC 4-31-5.5-6 at a permit holder's satellite facility.
(b) The taxes collected under subsection (a) shall be paid from the
amounts withheld under section 1 of this chapter and shall be
distributed as follows:
(1) The first one hundred fifty thousand dollars ($150,000) of
taxes collected during each state fiscal year shall be deposited in
the veterinary school research account established by IC 4-31-12-22.
(2) The remainder of the taxes collected during each state fiscal
year shall be paid into the Indiana horse racing commission
operating fund (IC 4-31-10).
(c) The tax imposed by this section is a listed tax for purposes of IC 6-8.1-1.
(d) The payment of the tax under this section must be reported and
remitted electronically through the department's online tax filing
program.

Indiana § 4-31-9-3 (Taxation of amount wagered each day; computation; distribution) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

Legislative History

As added by P.L.341-1989(ss), SEC.2. Amended by P.L.24-1992, SEC.30; P.L.26-1996, SEC.1; P.L.186-2002, SEC.9; P.L.108-2019, SEC.70; P.L.165-2021, SEC.49; P.L.137-2022, SEC.3.