KRS 137.180 — Report and payment of tentative state license tax -- Civil penalty for nonpayment

(1) Each person engaged in the business of conducting a race track shall, on or before
thirty (30) days following the close of each duly licensed race meeting, fur nish the
Department of Revenue a verified report of the number of days on which races were
conducted on that race track during the race meeting, together with a statement of
its daily mutuel handle for each day during the meeting, and at the same time pay to
the state the tentatively correct amount of the license tax apparently due it pursuant
to KRS 137.170.
(2) On or before December 31 in each year, each person engaged in the business of
conducting a race track shall file a final report with the Departmen t of Revenue
giving in summary form a recapitulation of the information furnished by the
previous tentative reports filed during the year, computing the final license tax due
the state for the year ending November 30 and showing the amount of tentative
license tax actually paid during the year. Any balance of license tax due the state as
shown on the final report shall be paid at the same time as the filing. Any
overpayment in license tax disclosed by the final report shall, at the option of the
taxpayer, be promptly refunded by the state or credited against the license tax to be
due from the taxpayer in the following year.
(3) Any person who violates any provision of this section or KRS 137.170 shall be
subject to the uniform civil penalties imposed pursuant to KRS 131.180 and interest
at the tax interest rate as defined in KRS 131.010(6) upon the unpaid amount from
the date prescribed for its payment until payment is actually made to the
department.