Taxation

Three-Year Tax Depreciation For Horses

December 16, 2014

A provision that retroactively extends three-year tax depreciation for all racehorses was passed by the United States Senate on Tuesday, December 16 as part of bill H.R. 5771, the Tax Increase Prevent...

KY Governor Seeks Tax Clarification

October 28, 2014

In a recent letter to the United States Treasury, Kentucky Governor Steve Beshear urged the federal government to clarify guidelines relating to the calculation of pari-mutuel winnings for tax purpose...

Court Sides With Punter Over Taxes

October 20, 2014

According to a report, a court has determined that a punter’s consistent, heavy wagering on horse races over a five-year period constituted a ‘continuous action to make a profit.’ In turn, the handica...

Tax Reduction Allocations Revised

On Monday, July 28, the Ontario Racing Commission announced the approval of revised allocations of the Pari-Mutuel Tax Reduction (PMTR) to support and encourage the horse racing industry in Ontario.

USTA Endorses Congressional Request

On Friday, June 6, the United States Trotting Association announced that it has endorsed a bi-partisan Congressional request to change the manner in which the Internal Revenue Service (IRS) calculates...

Red Mile To Apply For Instant Racing

It has been reported that officials from the Red Mile are working on a proposal that would see Instant Racing terminals – also known as Historical Racing terminals – installed at the harness raceway i...

Tax Changes For Horse Owners

If you've yet to file your taxes for 2013, the following article penned by one of Canada's foremost experts on equine law and taxation could provide important information.

Kentucky Instant Racing News

It has been reported that on Tuesday (March 25) the Kentucky Senate approved a 1.5 per cent tax on ‘Instant Racing,’ also known as ‘Historical Racing.’

Ohio Track, County Reach Tax Deal

It has been reported that officials in Ohio’s Warren County have reached a tax deal with operators of the Miami Valley Raceway.

NJ Tax Repeal Effort Update

February 24, 2014

Attorney Dana R. Bowling, who is spearheading the repeal of New Jersey’s sales tax on horse boarding, is asking the horse racing community to write legislators to ask for support for Bill A-1301.

Tax Exemptions Proposed For Barns

January 17, 2014

Former Charlottetown city councilor Philip Brown has said that he believes that the city should be providing a 10-year property tax exemption on the new barns being constructed at the Charlottetown Dr...

Workshop On NJ Boarding Tax Bill

January 16, 2014

A horse boarding and New Jersey sales tax workshop will be taking place this Sunday (January 19).