Keyword: taxes

  • Changes Possible on Federal Tax Withholdings

    Two federal agencies have issued a notice that opens the door to the possible addition of pari-mutuel gambling winnings to updated reporting and withholding requirements being developed for bingo, keno, and slot machines.

  • 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.

  • 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.

  • 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.

  • Appreciating Depreciation

    <i>By Robert R. Hill</i> -- 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.

  • Ray Paulick&lt;br&gt;Editor in Chief

    A Taxing Year Ahead

    <i>By Ray Paulick</i> -- 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.