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
- Dalakhani Pensioned from Stud Duty
- Bradley Reflects on Big Day at Saratoga
- Gun Runner Arrives at Monmouth for Haskell
- Songbird All Heart at Saratoga
- Elliston Named Keeneland VP of Racing, Sales
- Pacific Overtures
- Songbird Fine After Sharp CCA Oaks Victory
- Old Friends Reports Death of Futural
- 'Chrome' Edges Dortmund in Del Mar Battle
- Stonestreet: Rachel's Valentina Retired