The United States Senate voted June 26 to revive broad legislation to overhaul the country's immigration system. The measure was thought to be dead earlier in the month.
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.
Most Popular Stories
- Final Call for Taylors of Seattle Slew Fame
- Untapable, Tapiture Drill for Asmussen
- Five Tie for Fastest 3 Furlongs at OBS Show
- Main Sequence Works at Palm Meadows
- NY Investigation of Asmussen Case Completed
- NZ Premier Sale Off to Solid Start at Karaka
- NYRA Unveils 10-Race Claiming Series
- New York Sanctions Mott for Drug Overages
- 'Chrome' Set for San Antonio, Bayern Doubtful
- Racing Investigators to Meet in NJ in March