The racetrack pays tax on the amount of money wagered on horse and greyhound racing (includes simulcast).
The tax rate for each race is … | When the total amount wagered for races in a calendar year is … |
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1 percent | More than $100 million but less than $200 million |
2 percent | More than $200 million but less than $300 million |
3 percent | More than $300 million but less than $400 million |
4 percent | More than $400 million but less than $500 million |
5 percent | More than $500 million |
The tax rate is … | If the simulcast is of … |
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1 percent | Horse races at horse racetracks OR greyhound races at greyhound racetracks |
1.25 percent | Horse races at greyhound racetracks OR greyhound races at horse racetracks |
The Comptroller's office must receive reports by the end of the next business day following a race.
No.