May KENA Meeting to Focus on Horse Industry Tax Issues
Edited Press Release
May 6, 2018
The event will take place May 15 at The Red Mile Clubhouse, in Lexington, Kentucky.
The event will take place May 15 at The Red Mile Clubhouse, in Lexington, Kentucky.
The tax package includes changes to depreciation and expensing of yearlings, breeding stock, farm equipment, and more.
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Some researchers and equestrians predict a rebound is coming, but not all horse industry members share the enthusiasm.
Congressman Andy Barr introduced three pieces of legislation aimed at benefiting the breeding and racing industries.
The conference will cover legal issues affecting breeding, buying, selling, and other horse industry businesses.
Congress adjourned without taking action on a tax extender bill, allowing three-year racehorse depreciation to expire.
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In December Congress passed three bills that include provisions favorable to the horse industry.
Congress passed important tax incentives for horse owners as part of comprehensive budget and tax legislation.
The meeting will be held Nov. 17 at Fasig-Tipton and is open to both equine professionals and horse owners.
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Discussion topics ranged from medications in racing and sport horse fields to equine insurance provisions, and more.
A provision that retroactively extends three-year tax depreciation for all racehorses was passed Dec. 16.
Several favorable tax provisions the horse industry enjoyed in 2013 have reverted to lower levels or expired.
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