The American Horse Council reported more than 60 tax provisions expired; some applied to all businesses, including the horse industry, and one was specifically applicable to owners of racehorses.
The United States House of Representatives and Senate have passed the Farm Bill, and it appears there will be enough votes to override an expected veto by President Bush.
The Equine Equity Act, which would reduce the capital gains holding period for horses and allow horse owners to depreciate all racehorses over the same period, has been introduced in the United States Senate.
Most Popular Stories
- Rachel's Valentina Returns in Mother Goose
- Borells Charged With Animal Cruelty
- As Borell Released, Cruelty Laws Questioned
- Top Caribbean Race to Be Held at Gulfstream
- Melmich Victorious in Dominion Day
- Wake Forest Heads United Nations
- The Paralyzed Jockey Who's Still in the Race
- Relief Comes to Abandoned Horses in Kentucky
- Probe Into Abandoned Horses Continues
- Tuttipaesi Chases Graded Repeat