Barr Introduces Equine Tax Bills

Congressman Andy Barr introduced three pieces of legislation aimed at benefiting the breeding and racing industries.
Share
Favorite
Close

No account yet? Register

ADVERTISEMENT

On March 30, Congressman Andy Barr (R-KY) re-introduced the Race Horse Cost Recovery Act (HR 1804) and the Equine Tax Parity Act (HR 1805).

The Race Horse Cost Recovery Act would permanently place all racehorses in the three-year category for tax depreciation purposes. A 2008 provision that temporarily put race horses in the three-year category expired at the end of 2016.

The Equine Tax Parity Act would make horses eligible for capital gains treatment after 12 months, rather than 24, similar to other business assets. The American Horse Council supports both of these bills.

Barr also introduced the Race Horse Expensing Certainty Act (HR 1806), which would provide extra clarity that racehorses are eligible for the Section 179 business expense deduction. All horses purchased and placed in service by a business are currently eligible for the Section 179 deduction and the bill would not change this

Create a free account with TheHorse.com to view this content.

TheHorse.com is home to thousands of free articles about horse health care. In order to access some of our exclusive free content, you must be signed into TheHorse.com.

Start your free account today!

Already have an account?
and continue reading.

Share

Written by:

The American Horse Council was organized in 1969 to represent the horse industry in Washington before Congress and the federal regulatory agencies. It is a nonprofit corporation that represents all segments of the equine industry.

Related Articles

Stay on top of the most recent Horse Health news with

FREE weekly newsletters from TheHorse.com

Sponsored Content

Weekly Poll

sponsored by:

How do you try to promote healthy joints in your horse? Select all that apply.
122 votes · 236 answers

Readers’ Most Popular

Sign In

Don’t have an account? Register for a FREE account here.

Need to update your account?

You need to be logged in to fill out this form

Create a free account with TheHorse.com!