Tax

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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.

Illinois Tax to Benefit Equine Research, Education

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Illinois horse owners polled in a statewide referendum Oct. 7 approved an innovative new program that establishes a tax on horse feed products to benefit equine research and education in the state.

A Taxing Year Ahead

By Ray Paulick -- People in the Thoroughbred industry might see some similarities between 1986 and 2001. And for that reason, they've got a right to be a little nervous about things.

The Task at Hand

By Ray Paulick -- From New York to California and most places in between, state governments -- with few exceptions -- have not been very good friends or partners to racing.

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