Jim Bunning

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Horse Investment Bill Initiated in U.S. Senate

  • News

A bill designed to promote investment in the horse industry by removing provisions of federal law that favor other investments was introduced by U.S. Senator Mitch McConnell July 28.

Senate Passes Tax Bill Favorable to Horse Industry

The U.S. Senate passed an international tax bill that includes two provisions that are favorable for the horse industry. The first is the clarification that the 30% alien withholding provision does not apply to nonresident aliens wagering in foreign countries; the second is a reduction in the holding period for horses to qualify for capitol gains treatment from 24 months to 12 months.

Industry Pitch

By Ray Paulick -- Good things happened to the horse industry in Washington the same year it spent more on lobbying.

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