'Equine Tax Parity Act' Would Reduce Capital Gains Holding Period

A tax provision that has been on the books for 44 years could finally be eliminated if Congressman Andy Barr of Kentucky has his way, as he introduced Equine Tax Parity Act (HR-998) which would cut the holding period for capital gains associated with horses from 24 months to 12 months.

Capital gains for the majority of other property, commodities, assets, stocks and bonds is normally reduced after holding them for a 12-month period. Horse owners have always had to hold them for 24 months before getting a more favorable tax rate.

“The legislation I have introduced would finally eliminate a 44-year-old tax provision that discourages investment in the equine industry, bringing much needed relief to an economic sector that supports 1.4 million full-time jobs,” said Barr, a Republican. “This bill will bring parity to the tax code for the Commonwealth’s signature industry, ultimately helping put Kentuckians back to work.”

It is far past time for a bill like this to be passed to deal with the unfair treatment of horses under the tax code.

Kentucky Horse Breeders Now Eligible for Disaster Aid

Horse breeding farms in Kentucky will now be eligible for some federal aid when disasters hit the state.

The parameters associated with being eligible for relief include commercially operating horse breeding farms which also claim the breeders for tax purposes with the IRS.

Horse farms will now be able to seek technical assistance and emergency loans for restoration after natural disasters occur. The programs are administered under the auspices of the U.S. Department of Agriculture.

Other benefits are for relief during times of drought where emergency water measures may need to be taken.

Ky Equine Youth Festival on March 27, 2013

The Kentucky Equine Youth Festival has been scheduled for March 27, 2013, and will be hosted at the Kentucky Horse Park's Alltech Arena.

Those wanting to attend the event will need to register ahead of time for the activities beginning at 9AM and going on until 2:30. Registration begins at 8AM.

There will be demonstrations to show some of the things horses can do, including the always exciting jumping, along with work like working and driving cattle, among other demonstrations. Other activities include art and essay contests for students attending.

Costs to attend the event

Schools - $25 (up to 35 students) or

$50 (over 35 students), Youth Groups - $25., Individuals - $5.

Checks will be made out to Kentucky 4H Foundation.

For more information

For more information about this event contact Brigette Stacy, Kentucky Department of Education at brigette.stacy@educational.ky.gov

Kentucky Equine Youth Festival website

Kentucky Horse Park go to their website