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.
- By Tom LaMarra
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
- Pensioned Top Maryland Sire Not For Love Dies
- Santa Anita Pick 6 Pays Over $1.47 Million
- Ride On Curlin to Florida's Pleasant Acres
- Purses Enhanced for 2016 Ellis Park Meet
- Swipe at Belmont Preparing for His Return
- Illuminant Upsets Wekeela in Gamely Stakes
- PA-Bred Stakes Schedule Begins in Earnest
- Creator Works, Set for Trip to New York
- Suddenbreakingnews Now 'Official Ridgling'
- Cyrus Alexander Wins Lone Star Handicap