(a) Each licensee conducting racing events under the pari-mutuel system shall pay to the state, and there is hereby imposed:
(1) A tax at the rate of three percent (3%) of the total money wagered on so-called straight (win, place, or show) wagering on the events; and
(2) A tax at the rate of six percent (6%) of the total money wagered on so-called exotic or multiple forms of wagering on the events; and
(3) A tax equal to one-half (½) of the breakage to the dime resulting from the wagering.
(b) Each licensee conducting harness horse racing events under the pari-mutuel system shall pay to the state, and there is hereby imposed:
(1) A tax at the rate of five and one-half percent (5.5%) of so much of the total amount of money wagered daily on the events as does not exceed four hundred thousand dollars ($400,000); six and three quarters percent (6.75%) of so much thereof as exceeds four hundred thousand dollars ($400,000), but does not exceed four hundred and fifty thousand dollars ($450,000); seven and one quarter percent (7.25%) of so much thereof as exceeds four hundred and fifty thousand dollars ($450,000), but does not exceed five hundred thousand dollars ($500,000); and ten percent (10%) of so much of the total amount of money wagered on the events as exceeds five hundred thousand dollars ($500,000);
(2) A tax equal to one-half (½) of the breakage to the dime resulting from the wagering.
(c) Each licensee conducting dog racing events under the pari-mutuel system shall pay to the state, and there is hereby imposed, a tax on such events at the rate of:
(1) Five and one-half percent (5.5%) of the first one hundred and fifty thousand dollars ($150,000) of money wagered daily; plus nine percent (9%) on amounts wagered from one hundred and fifty thousand dollars ($150,000) to two hundred and fifty thousand dollars ($250,000); plus ten and one quarter percent (10.25%) on amounts wagered from two hundred and fifty thousand dollars ($250,000) to three hundred and seventy-five thousand dollars ($375,000); plus ten and three quarters percent (10.75%) on amounts wagered over three hundred and seventy-five thousand dollars ($375,000); and
(2) One-half (½) of the breakage to the dime resulting from the wagering.