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Can you summarize KYRS 138.511?
EXCISE TAXES > Definitions for KRS 138.510 to 138.550.
Short Summary
KRS 138.510 to 138.550 is a set of Kentucky Revised Statutes that govern excise taxes related to advanced deposit account wagering, live racing, historical horse races, and various related terms and definitions. The definitions provided in this section clarify the meanings of terms such as ‘advanced deposit account wagering,’ ‘advanced deposit account wagering license,’ ‘association,’ ‘commission,’ ‘daily average live handle,’ ‘department,’ ‘fiscal year,’ ‘handle,’ ‘historical horse race,’ ‘host track,’ ‘interstate wagering,’ ‘intertrack wagering,’ ‘Kentucky resident,’ ‘receiving track,’ ‘simulcast facility,’ ’takeout,’ ’telephone account wagering,’ and ’track.’ These definitions are essential for understanding and interpreting the provisions of KRS 138.510 to 138.550. The section also includes information on the effective date of certain amendments made to the statute.
Whom does it apply to?
This applies to individuals and entities involved in advanced deposit account wagering, live racing, historical horse races, and related activities in Kentucky.
What does it govern?
KRS 138.510 to 138.550 governs excise taxes related to advanced deposit account wagering, live racing, historical horse races, and various related terms and definitions.
What are exemptions?
No exemptions are mentioned in this section.
What are the Penalties?
No penalties are mentioned in this section.
Jurisdiction
Kentucky