§ 41-7-6 Tax on betting and licensee'scommission. – (a) The commission of a licensee on pari-mutuel pools and wagers shall betwenty and one half percent (201/2%) of the amount contributed thereto. Afterdeducting the commission and the "breaks," hereafter defined, a pari-mutuelpool shall be redistributed to the contributors. The licensee conducting eventspursuant to this chapter shall pay a tax to the state of three percent (3%) ofannual amounts contributed to mutuel pools up to eighteen million dollars($18,000,000) of total handle. The Rhode Island tax shall increase one half ofone percent (.5%) for the next incremental increase of two million dollars($2,000,000), and one half of one percent (.5%) for each incremental increaseof one million dollars ($1,000,000), thereafter, in the total annual pool up toa maximum of five percent (5%). The licensee shall pay a tax of one percent(1%) of the pool to the city of Newport and the tax administrator/collector orequivalent for the city of Newport shall assess and collect the taxes imposedby this section with respect to the city of Newport under such rules andregulations as he or she may prescribe. All taxes hereby imposed shall be dueand payable at the close of each day's activities, and any tax not paid upondemand of the tax administrator/collector shall bear interest at the rate ofsix percent (6%) per annum for the time of the demand. Failure to pay any taxupon demand shall be cause for revocation of a license.
(b) Redistributions of funds otherwise distributable to thecontributors to the pari-mutuel pools shall be a sum equal to the next lowestmultiple of ten (10).
(c) No distribution of a pari-mutuel pool shall be made ofthe odd cents of any sum otherwise distributable, which odd cents shall beknown as the "breaks."
(d) The "breaks" shall be known as the difference between theamount contributed to a pari-mutuel pool and the total of the commission of thelicensee and the sums actually redistributed to the contributors.
(e) No person or corporation shall directly or indirectlypurchase pari-mutuel tickets or participate in the purchase of any part of apari-mutuel pool for another for hire or for any gratuity and no person shallpurchase any part of a pari-mutuel pool through another, wherein he or shegives or pays directly or indirectly the other person anything of value, andany person violating this section shall be fined the sum of five hundreddollars ($500) for each violation.
§ 41-7-6 Tax on betting and licensee'scommission. – (a) The commission of a licensee on pari-mutuel pools and wagers shall betwenty and one half percent (201/2%) of the amount contributed thereto. Afterdeducting the commission and the "breaks," hereafter defined, a pari-mutuelpool shall be redistributed to the contributors. The licensee conducting eventspursuant to this chapter shall pay a tax to the state of three percent (3%) ofannual amounts contributed to mutuel pools up to eighteen million dollars($18,000,000) of total handle. The Rhode Island tax shall increase one half ofone percent (.5%) for the next incremental increase of two million dollars($2,000,000), and one half of one percent (.5%) for each incremental increaseof one million dollars ($1,000,000), thereafter, in the total annual pool up toa maximum of five percent (5%). The licensee shall pay a tax of one percent(1%) of the pool to the city of Newport and the tax administrator/collector orequivalent for the city of Newport shall assess and collect the taxes imposedby this section with respect to the city of Newport under such rules andregulations as he or she may prescribe. All taxes hereby imposed shall be dueand payable at the close of each day's activities, and any tax not paid upondemand of the tax administrator/collector shall bear interest at the rate ofsix percent (6%) per annum for the time of the demand. Failure to pay any taxupon demand shall be cause for revocation of a license.
(b) Redistributions of funds otherwise distributable to thecontributors to the pari-mutuel pools shall be a sum equal to the next lowestmultiple of ten (10).
(c) No distribution of a pari-mutuel pool shall be made ofthe odd cents of any sum otherwise distributable, which odd cents shall beknown as the "breaks."
(d) The "breaks" shall be known as the difference between theamount contributed to a pari-mutuel pool and the total of the commission of thelicensee and the sums actually redistributed to the contributors.
(e) No person or corporation shall directly or indirectlypurchase pari-mutuel tickets or participate in the purchase of any part of apari-mutuel pool for another for hire or for any gratuity and no person shallpurchase any part of a pari-mutuel pool through another, wherein he or shegives or pays directly or indirectly the other person anything of value, andany person violating this section shall be fined the sum of five hundreddollars ($500) for each violation.
§ 41-7-6 Tax on betting and licensee'scommission. – (a) The commission of a licensee on pari-mutuel pools and wagers shall betwenty and one half percent (201/2%) of the amount contributed thereto. Afterdeducting the commission and the "breaks," hereafter defined, a pari-mutuelpool shall be redistributed to the contributors. The licensee conducting eventspursuant to this chapter shall pay a tax to the state of three percent (3%) ofannual amounts contributed to mutuel pools up to eighteen million dollars($18,000,000) of total handle. The Rhode Island tax shall increase one half ofone percent (.5%) for the next incremental increase of two million dollars($2,000,000), and one half of one percent (.5%) for each incremental increaseof one million dollars ($1,000,000), thereafter, in the total annual pool up toa maximum of five percent (5%). The licensee shall pay a tax of one percent(1%) of the pool to the city of Newport and the tax administrator/collector orequivalent for the city of Newport shall assess and collect the taxes imposedby this section with respect to the city of Newport under such rules andregulations as he or she may prescribe. All taxes hereby imposed shall be dueand payable at the close of each day's activities, and any tax not paid upondemand of the tax administrator/collector shall bear interest at the rate ofsix percent (6%) per annum for the time of the demand. Failure to pay any taxupon demand shall be cause for revocation of a license.
(b) Redistributions of funds otherwise distributable to thecontributors to the pari-mutuel pools shall be a sum equal to the next lowestmultiple of ten (10).
(c) No distribution of a pari-mutuel pool shall be made ofthe odd cents of any sum otherwise distributable, which odd cents shall beknown as the "breaks."
(d) The "breaks" shall be known as the difference between theamount contributed to a pari-mutuel pool and the total of the commission of thelicensee and the sums actually redistributed to the contributors.
(e) No person or corporation shall directly or indirectlypurchase pari-mutuel tickets or participate in the purchase of any part of apari-mutuel pool for another for hire or for any gratuity and no person shallpurchase any part of a pari-mutuel pool through another, wherein he or shegives or pays directly or indirectly the other person anything of value, andany person violating this section shall be fined the sum of five hundreddollars ($500) for each violation.
