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TOC News Article Archives

Jockey Mike Smith and Arrogate honored for their great achievements of Thoroughbred racing in California

On Monday April 17th the California Senate and Assembly recognized the incredible career of Hall of Fame Jockey Mike Smith and North America’s richest racehorse, Arrogate. Smith was invited on the floor of the Assembly by the Governmental Organization Chair, Adam Gray. Gray introduced Smith and spent a few minutes speaking about some of the … Read more

Proposed Regs to Modernize Pari-Mutuel Withholding & Reporting

Contact Keith Chamblin, NTRA, at (859) 621-1120 DEPARTMENT OF TREASURY AND IRS ISSUE PROPOSED REGS TO MODERNIZE PARI-MUTUEL WITHHOLDING AND REPORTING Lexington, Ky. (December 29, 2016) – The Department of Treasury and Internal Revenue Service (IRS) today issued newly proposed regulations relating to withholding and reporting with respect to pari-mutuel winnings. The 31-page Treasury document, … Read more

Action Needed to Protect H-2B Returning Worker Exemption

Employers in the horse racing industry who rely on the H-2B visa program are urged to contact their United States Senator and Representative immediately to help ensure that the returning worker exemption remains in place, as Congress drafts a continuing resolution to fund the federal government in the short term. Read more here.

State of the Industry Discussed at TOC Open Forum

Attendees at the Open Forum at Los Alamitos on Saturday, April 23 heard TOC President, Nick Coukos, speak about the current state of Stabling and Vanning, ADW, Offtrack Betting, Workers’ Compensation, Purses, Legislation, and the upcoming TOC board election. Following his presentation, there was a lively question and answer session. Representing the TOC board were … Read more

President Enacts Bills that Benefit Racing

President Obama this afternoon signed into law H.R. 2029, which includes the Protecting Americans from Tax Hikes (PATH) Act of 2015 and the related omnibus appropriations bill, both of which carry provisions backed by the National Thoroughbred Racing Association (NTRA) that will benefit horseracing for years to come. The new legislation includes three-year tax depreciation … Read more