Chapter 2 - Imposition of Tax

California Revenue and Taxation Code — §§ 5721-5722

Sections (2)

Amended by Stats. 1972, Ch. 665.

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.

Amended by Stats. 1972, Ch. 665.

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