Jamaica Horsemen Pay New York City Use Tax: One per Cent Assessment Placed on Value of All Horses Startling, Daily Racing Form, 1944-04-08


view raw text

Jamaica Horsemen Pay New York City Use Tax One Per Cent Assessment Placed On Value of All Horses Starting JAMAICA, L. I., N. Y., April 7.— The application of the compensating use tax, on the statute books of the City of New York since 1940 and which struck Jamaica with unexpected fury on Thursday, was accepted in stride by horsemen today. With the exception of complaints from several horsemen following the explanation and use of the tax by William F. Florich, administrative assistant to the comptroller, horsemen paid the one per cent tax on the original value of the horse entered without a murmur. They accepted the tax as a form of the sales tax in use in New York City since 1934. The tax is applicable only to Jamaica and Aqueduct, which are in the limits of the City of New York. The tax will not be applicable to Belmont Park or Empire City. Florich, in his explanation, pointed out that the assessment value is placed on the original purchase price, whether it be from the yearling sales rings or private purchase or via the claiming route. For example, should a man purchase a yearling at Saratoga or other yearling vendues for the sum of 00, the sales tax in force will be .00, payable the first time the purchase starts at either Jamaica or Aqueduct. This sum, should the colt remain in the possession of the original purchaser whether he develops into a champion or descends to the lowly plater ranks, shall constitute the full tax. However, should he be entered in a claiming race and pass into the hands of a new owner, the latter, upon entering him, shall pay the sales tax of one per cent of his purchase price. The tax shall apply on every sale consummated at Jamaica or Aqueduct. The tax on horses bred by their respective owners shall be based on a valuation fixed by the owner or their insured values. Mr. Florich in his summing up pointed out that every assistance will be given to horsemen and trainers in their problems. He also pointed out that should a horseman have in his possession a horse that was claimed in New Orleans or other centers where the sales tax is in vogue should produce receipts to that effect and the matter will be quickly straightened out.

Persistent Link: https://drf.uky.edu/catalog/1940s/drf1944040801/drf1944040801_3_3
Local Identifier: drf1944040801_3_3
Library of Congress Record: https://lccn.loc.gov/unk82075800