§ 136 — Pari-mutuel wagering tax

§ 136. Pari-mutuel wagering tax. 1. Notwithstanding any law to the\ncontrary, the excise tax imposed on any racing association or\ncorporation or regional off-track betting corporation, authorized to\nconduct pari-mutuel wagering shall be seven-tenths of one percent (0.7%)\nof all money wagered through such association or corporation.\n 2. Beginning with state fiscal year two thousand twenty-six, the\naggregate amount of the pari-mutuel wagering tax paid by a harness track\npursuant to paragraph (b) of subdivision one of this section in a state\nfiscal year shall not exceed the pari-mutuel wagering tax attributable\nto live racing handle paid by such harness track in state fiscal year\ntwo thousand twenty-four.\n 3. All pari-mutuel wagering taxes shall be collected and remitted in\nthe same manner as such taxes were collected and remitted prior to the\nenactment of this section.\n 4. Breaks, as defined in sections two hundred thirty-six, two hundred\nthirty-eight, three hundred eighteen, and four hundred eighteen of this\nchapter are not permitted, unless required by another jurisdiction\npursuant to section nine hundred five of this chapter. All distributions\nto the holders of winning tickets shall be calculated to the nearest\npenny.\n 5. Notwithstanding subdivision four of this section, a racetrack may\nround to the nearest nickel for bets made at the facility, however the\nbreaks must be directed to the retired and rescued thoroughbred horse\naftercare fund pursuant to section two hundred nine-n of the tax law if\nthe bet was made on a thoroughbred race, and to the retired and rescued\nstandardbred horse aftercare fund pursuant to section two hundred nine-o\nof the tax law if the bet was made on a standardbred race.\n