Congress has passed a tax extender bill called the Protecting Americans from Tax Hikes Act of 2015 that includes several provisions important to the horse industry and supported by the American Horse Council.
At the end of 2014, a number of favorable tax provisions for horse owners, breeders and businesses expired. In all, over sixty tax provisions expired; some applied to all businesses, including the horse industry, and one was specifically applicable to owners of race horses. All of the provisions extended are retroactive for all of 2015.
This bill has been signed into law.