New York A 8527: Relates to the imposition of sales tax on the sale of race horses made through claiming races

Bill Text

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A08527 Summary:

BILL NOA08527 

&nbsp

SAME ASSAME AS S07907

&nbsp

SPONSORSimone

&nbsp

COSPNSR

&nbsp

MLTSPNSR

&nbsp

Amd §1111, Tax L

&nbsp

Expands the imposition of sales tax on the sale of race horses made through claiming races to include the total sale price on each sale.

Go to top A08527 Actions:

BILL NOA08527 

&nbsp

05/20/2025referred to ways and means

01/07/2026referred to ways and means

Go to topA08527 Committee&nbspVotes:

Go to topA08527 Floor&nbspVotes:

There are no Assembly votes for this bill in this legislative session.

Go to topA08527 Text:

 STATE OF NEW YORK
 ________________________________________________________________________

 8527

 2025-2026 Regular Sessions

 IN ASSEMBLY

 May 20, 2025
 ___________

 Introduced by M. of A. SIMONE -- read once and referred to the Committee
 on Ways and Means

 AN ACT to amend the tax law, in relation to sales tax on the sale of
 race horses made through claiming races

 The People of the State of New York, represented in Senate and Assem-
 bly, do enact as follows:

 1 Section 1. Subdivision (g) of section 1111 of the tax law, as amended
 2 by chapter 287 of the laws of 1985, is amended to read as follows:
 3 (g) The sale of race horses made through claiming races within the
 4 state, shall be subject to sales tax [but only on such portions of the
 5 total purchase price that exceed the highest of any prior purchase pric-
 6 es paid for the same horse during the same calendar year within the
 7 state. Where no previous purchases have been made within a calendar
 8 year, the full purchase price shall be taxable]. Officials of all race
 9 tracks in the state shall maintain and make available, upon reasonable
 10 request, accurate and detailed lists of such sales.
 11 § 2. This act shall take effect on the first day of the sales tax
 12 quarterly period, as described in subdivision (b) of section 1136 of the
 13 tax law, beginning at least 90 days after the date this act shall have
 14 become a law and shall apply in accordance with the applicable transi-
 15 tional provisions of sections 1106 and 1217 of the tax law.

 EXPLANATION--Matter in italics (underscored) is new; matter in brackets
 [ ] is old law to be omitted.
 LBD11055-02-5

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