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
- Promising Mastery Heads Los Al Futurity Field
- Del Mar to Pay Out Consolations for Pick 6
- End of Road for ‘Claiming Rule’ Challenge
- Innovative Wagers Help Racetracks with Handle
- Woolf Award Finalists Announced
- Greatbullsoffire Tops Futurity
- Thoroughbred Makeover Accepting Applications
- Bowman Wins Hong Kong Jockey Championship
- Bode's Dream Makes Return in House Party
- Paulassilverlining Set for Garland of Roses