5044

VETOES

cents on all regular mutuel pools. Each licensee may deduct
and retain for its own account the following amounts on all
races conducted by it during each year: for all calendar
years, 15.50 percent of all money wagered in multiple mutuel
pools involving two horses, and 21.50 percent of all money
wagered in multiple mutuel pools involving three or more
horses; and one half of the breakage computed to the 10
cents on all multiple mutuel pools. Regular mutuel pool
means a separate wagering pool in which an interest is
represented by a single ticket evidencing a single wager on
one horse. Multiple mutuel pool means a separate wagering
pool in which an interest is represented by a single wager
on two or more horses. For the purpose of enforcing the
provisions of this section, the Commission shall have and
exercise all of the power conferred upon it by §§ 11 and 13
of this article.

(E) EACH LICENSSE UNDER § 15 SHALL PAY THE TAX DUE TO
THE STATE, FOR EACH DAY OF RACING FOR WHICH THE STATE TAX IS
DUE, BY DEPOSITING THE AMOUNT OF THE TAX IN A DEPOSITORY
DESIGNATED BY THE STATE TREASURER ON THE NEXT DAY ON WHICH
THE DEPOSITORY IS OPEN FOR BUSINESS. FOR EACH DEPOSIT, THE

LICENSEE SHALL SEND A STATEMENT, UNDER OATH, TO THE

COMMISSION, THE COMPTROLLER, AND THE TREASURER, SHOWING THE
AMOUNT OF MONEY WAGERED AND THE AMOUNT OF THE STATE TAX
DEPOSITED.

(E) EACH LICENSEE UNDER § 15 SHALL PAY THE TAX DUE TO
THE STATE BY DEPOSITING THE AMOUNT OF THE TAX AT THE TIMES
SPECIFIED IN SUBSECTION (A) IN A DEPOSITORY DESIGNATED BY
THE STATE TREASURER. THE LICENSEE SHALL SEND A STATEMENT TO
THE COMMISSION SHOWING THE AMOUNT OF MONEY WAGERED AND THE
AMOUNT OF THE STATE TAX DEPOSITED.

17.

(b) [(2) (i) Each licensee shall estimate the tax on
money wagered due the State each day. It shall pay to the
Commission the estimated tax to be credited against the
total tax due at the close of the meet. The first payment
of estimated tax shall be due 33 days after the start of any
meeting and shall include the estimated tax for the first 30
days of the meet. Thereafter the estimated tax for any day
shall be paid to the Commission no later than 72 hours after
the close of racing for that day. The total tax due for the
meeting shall be paid within 5 days of the close of the
meeting..

(ii) If the estimated tax paid by a track
is less than 75 percent of the total tax due at the end of
the meet, the Comptroller may assess a penalty of 25 percent
of any additional tax due at the end of the meet.]