§ 165.151. State admission tax.
A corporation holding a thoroughbred horse race meeting shall collect, in addition to the admission price of tickets sold or otherwise disposed of, a tax equivalent to 15% of such admission price, or 15¢, whichever is greater. Failure to collect such tax shall result in a tax imposition thereof upon such corporation. The tax shall be paid to the Department of Revenue within ten days of collection. Before any corporation shall hold any racing meeting, it shall pay all taxes theretofore due and shall file a statement with the Department of Revenue, as well as with the Commission, containing the name of the place and stating the time when such races are to be held. A penalty of 5% and interest at the rate of 1% per month from the due date to the date of payment of the tax shall be payable whenever the tax is not paid when due.
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