Horse Racing

Kentucky Legislative Task Force Won’t Recommend Raising Taxes On Historical Horse Racing



Kentucky’s Pari-Mutuel Wagering Taxation Task Force will not recommend raising the tax rate on historical horse racing, according to an op-ed written by the Lexington Herald-Leader’s Linda Blackford.

Representative Adam Koenig (R), who oversaw the task force with Senate Floor Majority Leader Damon Thayer (R), plans to instead devise legislation that would standardize the many different tax rates on different types of wagering, including a potential raise in the taxes on advanced deposit wagering.

“I’m trying to thread the needle between those who want an increase and those who want to do nothing,” Koenig told the Herald-Leader. “But I’m trying to thread it so we can generate more income.”

Other task force recommendations include losing the admission tax, evaluating the legalization of sports wagering, and donating a portion of historical horse racing proceeds to college equine programs.

Read more at the Lexington Herald-Leader.





READ NEWS SOURCE

Leave a Reply

This website uses cookies. By continuing to use this site, you accept our use of cookies.