N.Y. Racing, Pari-Mutuel Wagering and Breeding Law § 136: Pari-mutuel wagering tax

§ 136. Pari-mutuel wagering tax. 1. Notwithstanding any law to the

contrary, the excise tax imposed on any racing association or

corporation or regional off-track betting corporation, authorized to

conduct pari-mutuel wagering shall be seven-tenths of one percent (0.7%)

of all money wagered through such association or corporation.

2. Beginning with state fiscal year two thousand twenty-six, the

aggregate amount of the pari-mutuel wagering tax paid by a harness track

pursuant to subdivision one of this section in a state fiscal year shall

not exceed the pari-mutuel wagering tax attributable to live racing

handle paid by such harness track in state fiscal year two thousand

twenty-four.

3. All pari-mutuel wagering taxes shall be collected and remitted in

the same manner as such taxes were collected and remitted prior to the

enactment of this section.

4. Breaks are not permitted, unless required by another jurisdiction

pursuant to section nine hundred five of this chapter. All distributions

to the holders of winning tickets shall be calculated to the nearest

penny.

5. Notwithstanding subdivision four of this section, a racetrack may

round to the nearest nickel for bets made at the facility only if such

breaks are directed to the retired and rescued thoroughbred horse

aftercare fund pursuant to section two hundred nine-n of the tax law if

the bet was made on a thoroughbred race, and to the retired and rescued

standardbred horse aftercare fund pursuant to section two hundred nine-o

of the tax law if the bet was made on a harness race.