Laws, Regulations & Annotations

Property Taxes Law Guide – Revision 2014
 

Revenue and Taxation Code

Property Taxation

Part 12. Taxation of Racehorses

CHAPTER 2. Imposition of Tax

5721. Imposition of tax. For the 1973 calendar year and each calendar year thereafter, on the privilege of breeding, training, caring for or racing a racehorse in this state, there is hereby imposed an annual tax on owners of racehorses for such racehorses domiciled in this state, which shall be in lieu of any property tax on racehorses subject to taxation pursuant to this part.

History.—Stats. 1972, p. 1228, in effect August 10, 1972, substituted "1973 calendar" for " 1972–73 tax", "calendar year" for "tax year" , "tax on owners of racehorses for such racehorses" for "fee on such horses to be paid by racehorse owners for such racehorses" in the first sentence.

5722. Annual tax. The annual tax is imposed on and shall be paid by the owner on the following basis:

Stallions
Stud fee classificationAge 12 and youngerAge 13 and older
$10,000 and up $1,000 $650
7,500 and up 750 500
5,000 and up 500 330
3,000 and up 300 200
1,500 and up 150 100
1,000 and up 100 65
Less than 1,000 75 50
Broodmares
Stud fee classificationAge 12 and youngerAge 13 and older
Stakes-winning producing broodmares $75 $50
Stakes-producing broodmares 75 50
Other producing broodmares 40 28
Stakes-winning nonproducing broodmares 35 25
Other nonproducing broodmares 20 12
Active Racehorses
Racehorses which in the previous calendar year earned:
$100,000 or more $150
Between 50,000 and 99,999 100
Between 25,000 and 49,999 60
Less than 25,000 40
Other Racehorses
Stakes yearlings, stakes two-year-olds, stakes three-year-olds $35
Other yearlings, two-year-olds, three-year-olds, and nonactive racehorses 20

History.—Stats. 1972, p. 1228, in effect August 10, 1972, revised the tax schedule.