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
- Rebel Rematch Expected in Arkansas Derby
- Likely Entrants for World Cup Card Released
- California Chrome 'Wait and See' for SA Derby
- Apprentice Courtney Hernandez Gets First Win
- KY-Bred Lideris Wins Latinoamericana in Peru
- Hoppertunity Stays Up in Roughshod Rebel
- Featured Horse Profile: Close Hatches
- Onlyforyou Euthanized After Training Accident
- Arkansas Derby Preview Day Preview Blog
- Let Faith Arise Puts Santa Margarita On Ice