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
- Mine That Bird Still Flies in Kentucky
- Sisterly Love Scores Doubledogdare Upset
- TimeformUS Saturday Stakes Plays
- Speightstown Colt Works Quick Quarter at OBS
- Samraat, Uncle Sigh Work at Belmont
- Mike Mitchell to Step Down as Head Trainer
- Churchill Derby, Oaks Security Plan Released
- Indiana Grand Racing & Casino Begins New Era
- A Case for Full Siblings
- Key Owners, Trainers to Publicize Vet Records