Kentucky Statutes 138.513 – Tax on advance deposit account wagering licensees
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(1) (a) Beginning August 1, 2014, but before August 1, 2022, an excise tax is imposed on all advance deposit account wagering licensees licensed under KRS § 230.260 at a rate of one-half of one percent (0.5%) of all amounts wagered through the licensee by Kentucky residents; and
(b) Beginning August 1, 2022, an excise tax is imposed on all advance deposit account wagering licensees licensed under KRS § 138.675 at a rate of one and one-half percent (1.5%) of all amounts wagered through the licensee by Kentucky residents.
(2) The tax imposed by this section shall be paid, collected, administered, and distributed as provided in KRS § 138.530.
Effective: July 14, 2022
History: Amended 2022 Ky. Acts ch. 124, sec. 5, effective July 14, 2022. — Created
2014 Ky. Acts ch. 102, sec. 8, effective July 15, 2014.
Legislative Research Commission Note (7/15/2014). In codification, the Reviser of Statutes has corrected an inadvertent drafting error in subsection (1) of this statute by changing a reference to “KRS § 236.260” as it appeared in 2014 Ky. Acts ch. 102, sec.
8, to “KRS § 230.260.” KRS Chapter 230 is titled “Horse Racing and Showing” while KRS Chapter 236 is titled “Boiler and Pressure Vessel Safety.” It is obvious that the bill drafter knew which statute (KRS § 230.260) within KRS Chapter 230 relating to advance deposit account wagering licensing to refer to, but because of a typographical error mistakenly cited to KRS § 236.260 instead. This correction has been made under the authority of KRS § 7.136(1)(h).
(b) Beginning August 1, 2022, an excise tax is imposed on all advance deposit account wagering licensees licensed under KRS § 138.675 at a rate of one and one-half percent (1.5%) of all amounts wagered through the licensee by Kentucky residents.
Terms Used In Kentucky Statutes 138.513
- Statute: A law passed by a legislature.
(2) The tax imposed by this section shall be paid, collected, administered, and distributed as provided in KRS § 138.530.
Effective: July 14, 2022
History: Amended 2022 Ky. Acts ch. 124, sec. 5, effective July 14, 2022. — Created
2014 Ky. Acts ch. 102, sec. 8, effective July 15, 2014.
Legislative Research Commission Note (7/15/2014). In codification, the Reviser of Statutes has corrected an inadvertent drafting error in subsection (1) of this statute by changing a reference to “KRS § 236.260” as it appeared in 2014 Ky. Acts ch. 102, sec.
8, to “KRS § 230.260.” KRS Chapter 230 is titled “Horse Racing and Showing” while KRS Chapter 236 is titled “Boiler and Pressure Vessel Safety.” It is obvious that the bill drafter knew which statute (KRS § 230.260) within KRS Chapter 230 relating to advance deposit account wagering licensing to refer to, but because of a typographical error mistakenly cited to KRS § 236.260 instead. This correction has been made under the authority of KRS § 7.136(1)(h).