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Indiana Code Title 4. State Offices and Administration § 4-31-9-3

Current as of January 02, 2024 | Updated by Findlaw Staff

Sec. 3. (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.

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Cite this article: FindLaw.com - Indiana Code Title 4. State Offices and Administration § 4-31-9-3 - last updated January 02, 2024 | https://codes.findlaw.com/in/title-4-state-offices-and-administration/in-code-sect-4-31-9-3/

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