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This entry was published on 2014-09-22
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Non-refundable tax credit
Racing, Pari-Mutuel Wagering and Breeding Law (PML) CHAPTER 47-A, ARTICLE 9
§ 908. Non-refundable tax credit. Each regional off-track betting
corporation shall be entitled to a monthly non-refundable tax credit to
be applied against the pari-mutuel tax on all pools on races conducted
within New York state. Such credit shall be equal to fifty-four percent
of the pari-mutuel tax attributable to such corporation's daily increase
in wagers on races at each respective track authorized by this chapter
on races conducted within New York state compared to such corporation's
average daily wagers on races conducted within New York state during the
year ending December thirty-first, two thousand four.