The American Horse Council reported more than 60 tax provisions expired; some applied to all businesses, including the horse industry, and one was specifically applicable to owners of racehorses.
The United States House of Representatives and Senate have passed the Farm Bill, and it appears there will be enough votes to override an expected veto by President Bush.
The Equine Equity Act, which would reduce the capital gains holding period for horses and allow horse owners to depreciate all racehorses over the same period, has been introduced in the United States Senate.
Most Popular Stories
- Arrogate Works Toward Seasonal Bow
- BC Juvenile Winner Texas Red Retired
- American Gal, Union Strike Meet in Starlet
- Resilient Humor Debut Winner for Sassy Image
- Retired Valet Ward Dies in Kentucky
- Trainer Brown Gearing Up for Gulfstream
- A Look Back at A.P. Indy's Hollywood Futurity
- Aqueduct Announcers Bring Youth, Experience
- Promising Mastery Heads Los Al Futurity Field
- Lukas Drops by to See Old Friend Charismatic