|Thursday, January 12, 2006
|Horse sales tax in Kentucky to dissappear
According to new legislative proposals, the 6% sales tax on horses acquired at Kentucky race tracks and auctions would disappear, whereas the 6% sales tax on stud fees would remain.
Non Kentucky residents are already exempt from paying tax on horse sales. The measure is meant to promote the state agricultural economy.
In the mean time, the Thoroughbred market is surging with record sales at the Keenland auction this week. Two auctions resulted in a sale of 496 horses for a total of US$46,999,500. Top sale this week was Girl Warrior, a grade II-winning mare, sold for $1 million.