S 7907: 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.

  
  STATE OF NEW YORK ________________________________________________________________________ 7907 2025-2026 Regular Sessions  IN SENATE May 13, 2025 ___________ Introduced by Sen. GOUNARDES -- read twice and ordered printed, and when printed to be committed to the Committee on Budget and Revenue 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