The 2003 Tax Act, recently passed by Congress to stimulate the economy, has several very favorable provisions for the equine industry.
Congress passed a $350-billion tax cut measure on May 23, but the bill did not include a clause eliminating an existing 30% withholding tax on winning pari-mutuel wagers placed by foreigners through U.S. betting pools.
The U.S. Senate Thursday passed a $350-billion tax-cut bill that includes a provision to remove the 30% withholding tax on winning pari-mutuel wagers placed by foreigners through U.S. pools.
Most Popular Stories
- Pensioned Top Maryland Sire Not For Love Dies
- Stay Thirsty's First Winner Comes in England
- Swipe at Belmont Preparing for His Return
- Ride On Curlin to Florida's Pleasant Acres
- Santa Anita Pick 6 Pays Over $1.47 Million
- Second Saratoga Group Sounds Off on NYRA Plan
- Suddenbreakingnews Now 'Official Ridgling'
- Creator Works, Set for Trip to New York
- Illuminant Upsets Wekeela in Gamely Stakes
- Purses Enhanced for 2016 Ellis Park Meet