New York A08527 amends the tax law to impose sales tax on the total sale price of race horses sold through claiming races.

New York A08527 amends the state tax law to change the imposition of sales tax on the sale of race horses made through claiming races. The bill specifies that sales tax will now apply to the total sale price on each sale, rather than just the portion exceeding the highest prior purchase price within the same calendar year. Officials at all race tracks in the state must maintain and provide detailed lists of such sales upon request. The changes will take effect at the start of the next sales tax quarterly period, at least 90 days after the bill becomes law.

New York A08527 amends the tax law to impose sales tax on the total sale price of race horses sold through claiming races.

New York A08527 amends the state tax law to change the imposition of sales tax on the sale of race horses made through claiming races. The bill specifies that sales tax will now apply to the total sale price on each sale, rather than just the portion exceeding the highest prior purchase price within the same calendar year. Officials at all race tracks in the state must maintain and provide detailed lists of such sales upon request. The changes will take effect at the start of the next sales tax quarterly period, at least 90 days after the bill becomes law.