Cal. Code Regs. tit. 18 § 1047

Current through Register 2024 Notice Reg. No. 50, December 13, 2024
Section 1047 - Proper Classification of Racehorses
(a) If during the previous calendar year a racehorse subject to the tax imposed by section 5721 of the Revenue and Taxation Code falls into categories both as an animal used for breeding and as an active racehorse, the use producing the higher tax is controlling.
(b) If during the previous calendar year a stallion is used by the owner exclusively for purposes of servicing the owner's mares, the highest stud fee for such year shall be determined by reference to the highest stud fee charged by owners of comparable stallions on the open market.

Cal. Code Regs. Tit. 18, § 1047

1. New section filed 11-1-72; effective thirtieth day thereafter (Register 72, No. 45).
1. New section filed 11-1-72; effective thirtieth day thereafter (Register 72, No. 45).