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
- Champion Wise Dan Back at the Track
- Two Share Fastest Furlong Time at F-T Show
- Hall Finalists Include Leatherbury, Lava Man
- The Great War No Longer Pursuing Derby
- New Social Media Rule for Australian Racing
- Wise Dan, Main Sequence Top Turf Classic Noms
- Daredevil Back to Work After Swale Washout
- The Jockey Club 2015 Fact Book Now Online
- Mountaineer Cancels; Parx Loses Most of Card
- Indiana Derby Moves to Mid-July This Year