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Pari-Mutual Betting Tax

  1. What is the pari-mutual betting tax and what is the tax rate?
  2. When must the pari-mutual betting tax return be filed and the tax paid. Is there a late payment penalty?
  3. How do I register to file the pari-mutual betting tax return with the Finance Department Revenue Division?
  4. Where can I get information concerning the pari-mutual betting tax?

What is the pari-mutual betting tax and what is the tax rate?

This tax is charged on the amount of the pari-mutual betting pool retained by the operator of a live or off-track horse racing facility. For Henrico, the tax rate is 1/8 of 1 percent for win-place-show wagers and 1/4 of 1 percent for exotic wagers. For additional information, please visit visit the Finance Department website or call (804) 501-7329.

When must the pari-mutual betting tax return be filed and the tax paid. Is there a late payment penalty?
The tax is to be paid within five days from the date on which such wagers are received. There is no penalty associated with this tax. For additional information, please visit the Finance Department website or call (804) 501-7329.

How do I register to file the pari-mutual betting tax return with the Finance Department Revenue Division?
Any person desiring to hold a race meeting or operate a satellite facility must file with the Virginia Racing Commission an application for an operator’s license. For additional information, please call the Virginia Racing Commission at (804) 966-7400.

Where can I get information concerning the pari-mutual betting tax?
Please visit the Finance Department website or call (804) 501-7329.

 
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