The Department of Revenue administers the horse racing taxes imposed on all tracks conducting pari-mutuel wagering under the jurisdiction of the Kentucky Horse Racing Commission. (KRS 138.510 – 138.550).
Effective July 14, 2022, the admissions tax imposed under KRS 138.480 - 138.490 is repealed.
Effective August 1, 2022, the pari-mutuel excise tax rate for live wagering, simulcast wagering, and advance deposit wagers is set at 1.5% due to the passage of
HB 607.
Updated forms 73A100, 73A101 and 73A102 are now posted. The revised Racetrack Pari-Mutuel Tax Report (Form 73A100) reflects the new 1.5% excise tax rate, incentive fund rates, and includes the newly established incentive funds for Equine Industry Programs for the University of Kentucky (UK) and Bluegrass Community and Technical College (BCTC). Also, the admissions tax has been removed from Form 73A100. The revised Historical Pari-Mutuel Report (Form 73A101) includes an additional incentive fund for the Equine Industry Program and Breeders Incentive Fund with a cap of $2,000,000. The revised Advanced Deposit Wagering Excise Tax Report (Form 73A102) is updated to reflect the new 1.5% excise tax rate.
Live Racing – (KRS 138.510)
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Tax Rate – 1.5% of all money wagered on live races at the track.
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Due Date – The report must be filed no later than the fifth business day (excluding Saturday and Sunday) following the close of each race week. A race week will begin on Monday and end on Sunday.
Simulcast Wagering – (KRS 138.510)
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Tax Rate – 1.5% of all money wagered at receiving tracks or telephone account wagers or whole card simulcast if total anticipated annual live racing handle is more than $250,000.
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Due Date – The report must be filed no later than the fifth business day (excluding Saturday and Sunday) following the close of each race week. A race week will begin on Monday and end on Sunday.
License Tax – (KRS 137.170 – 137.190)
Racetracks conducting live horse races must report and pay a license tax for each day of racing based on the average daily handle of the preceding race year.
Due Date – The report and payment due within 30 days at the close of each race meet.