The Iowa Supreme Court said Aug. 6 it would not revisit its ruling that the state's three racetrack casinos are unjustly taxed. The chance remains the state, in need of revenue, could appeal.
Prairie Meadows stands to save $17 million in gaming tax payments this year and $23 million by 2004 after the Iowa Supreme Court ruled June 12 that it was unconstitutional to charge a higher tax rate for slot machines at racetracks than those on riverboats.
The pari-mutuel industry in Iowa got a major boost June 12 when state Supreme Court justices ruled they could "find no rational reason for treating racetrack slot machines differently than riverboat slot machines." Racetracks currently pay a 32% tax, while the riverboats pay 20%.
Most Popular Stories
- Ken Ramsey on Kitten's Joy
- TimeformUS: The Hollywood Park Swan Song
- Santa Anita Reducing Takeout on Daily Double
- Stallion Monba Represented by First Winner
- Calder Releases 2014 Partial Stakes Schedule
- That Handicapping Show: Dania Beach Stakes
- De La Cruz Soars at Tampa Bay With 4-Bagger
- No Deal Yet on Will Take Charge, Horton Says
- Cibelli Wins Her First Race After 60-Day Ban
- King Kamehameha Son Dominates in Hong Kong