BloodHorse.com | Horse Racing News

Barr Seeks to Retain Horse Depreciation Scale

Congressman Andy Barr (R-Kentucky) has introduced a measure that would make permanent the three-year depreciation schedule for all race horses that is scheduled to expire with the 2008 Farm Bill at the end of the year.

Table Game Legislation Advances in Indiana

Senators voted 32-18 Monday to approve the bill that would allow Indiana's 10 riverboat casinos to move inland to adjacent property and permit live table games at the two horse track casinos.

What's Going On Here - Looking Like We Care

If racetracks look like they don't care, why should the new fan?

read blog

'Slot Money Will End' - By Gary Fenton

The solution is and has 
always been about building
 a better product to
 a new generation.

Read Blog

NTRA, Fasig-Tipton Host Equine Tax Seminar

The National Thoroughbred Racing Association and Fasig-Tipton Company, Inc., are hosting a free equine tax seminar in Saratoga Springs, N.Y., on Tuesday, Aug. 3, the second day of the Saratoga Selected Yearling sale.

Hickey: Industry Must Be Diligent in D.C.

There's a new president in town, and a Congress even more dominated by Democrats, but one of the nation's top lobbyists for equine interests said April 30 that the horse industry must be ever-diligent about protecting and advancing its positions in Washington, D.C.

NTRA to Host Tax Seminar at Keeneland

The National Thoroughbred Racing Association will host a free equine tax seminar at the Keeneland sale pavilion Sept. 12, a dark day during the Keeneland September yearling sale.

Bill to Bag Withholding Tax Introduced

Legislation that would eliminate the automatic 25% federal withholding on pari-mutuel winnings of $5,000 or more on wagers of at least 300-1 was introduced in the U.S. House of Representatives July 29.

NTRA to Host Equine Tax Seminar

The National Thoroughbred Racing Association will host an equine tax seminar at Keeneland near Lexington April 7. Opportunities created by changes in the tax code will be the focus.

New Tax Law Benefits Horse Owners

The new Economic Stimulus Act signed into law by President Bush on Feb. 13 should be an incentive for more investment in horses, according to the American Horse Council.

State Sales Tax on Claims Dropped in Louisiana

People who claim Thoroughbreds and Quarter Horses at any licensed racetrack in Louisiana are no longer required to pay a state sales tax under a new law, the Louisiana Horsemen's Benevolent and Protective Association has announced.

Law That Impacts Conservation Easements Discussed

A law that raises the deduction a landowner can take for donating a conservation easement was the subject of a press conference near Lexington.

American Horse Council Offers Tax Handbook

The American Horse Council's "2006 Horse Owners and Breeders Tax Handbook" is now available.

Bill Would Eliminate Horse Sales Tax in Kentucky

Two Kentucky lawmakers have introduced legislation that would eliminate the sales tax on horses purchased in Kentucky.

Hong Kong Seeks Tax Change to Boost Handle

The Hong Kong Jockey Club is negotiating with the government over the way racing wagers are taxed. The organization is confident a change from a per-bet tax to a flat tax on total handle could increase betting pools.

Rebound in Horse Auctions Attracts Attention of Wall Street Journal

Recent changes in federal tax laws and their positive effects on Thoroughbred auctions has attracted the attention of the Wall Street Journal, which focuses on the horse industry in an article in the Wednesday, Nov. 19 edition.

Tax Benefits to Horse Owners Increase Dramatically

The 2003 Tax Act, recently passed by Congress to stimulate the economy, has several very favorable provisions for the equine industry.

Ireland Continues Tax Exemption on Stallion Income

Ireland's tax exemption on stallion income remains unchanged, despite pressure from opposition parties.

Appreciating Depreciation

By Robert R. Hill -- On March 9, President Bush signed the Job Creation and Worker Assistance Act of 2002, which was a real income tax benefit for U.S. businesses. Fortunately, this tax act is also a significant boon to the horse industry, benefiting both racing and breeding operations.

Account Wagering, Tax Reduction Bill Introduced in Arkansas

"Recognizing Oaklawn's significant contributions to tourism and retirement in Arkansas and an increased challenge to compete with race tracks in surrounding states," state senator Terry Smith (D-Hot Springs) filed a two-pronged pari-mutuel bill Thursday in an effort to protect Oaklawn's economic contributions to Arkansas. If passed, Senate Bill 602 would amend the state privilege tax rate on pari-mutuel wagering on horse racing, while also authorizing Oaklawn Park in Hot Springs and Southland Greyhound Park in West Memphis to conduct account wagering.

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.

Betting Tax Reform on Table in Great Britain

British racing will gain a major funding boost if Chancellor of the Exchequer Gordon Brown announces a predicted reform of betting taxes in his March budget. Some estimate handle could double.