NTRA

The National Thoroughbred Racing Association issued the following statement Friday from President and CEO Alex Waldrop: "The racing industry would not exist and could not function without the contributions of the black community and people of color. The systemic racism that has poisoned our country cannot be allowed to inflict its pain on one more generation. We must work individually and collectively to dismantle these prejudices for good and confront the injustice that devalues the lives of the very people who make sure our industry can endure. "We at the...

Breeders' Cup in conjunction with The Jockey Club are launching a new national advertising campaign called 'Still. Running. Strong." to promote Thoroughbred racing as spectator-free racing resumes in various markets around the country during this time of the COVID-19 pandemic. "As more of our major venues get back to live racing and with people at home seeking diversion and entertainment, we wanted to be proactive about promoting the sport to a broader audience," said Drew Fleming, President and CEO of the Breeders' Cup. "Horse racing has a unique opportunity to...

The National Thoroughbred Racing Association Safety and Integrity Alliance has released a document outlining best practices for North American racetracks determined to prioritize the health and safety of all participants and employees, when conducting live racing in a spectator-free environment in the midst of the COVID-19 pandemic. The document will assist racetracks that wish to resume live racing by establishing the safest public health environment possible, while also enabling gainful employment and economic activity at a time of uncertainty for so many. These best practices are based upon the most...

The Legislative Action Committee of the National Thoroughbred Racing Association (NTRA) attracted voluntary contributions in 2019 of $750,000, the highest amount contributed to the campaign since the pre-recession year of 2008. The NTRA LAC is a program that supports the breeding and racing industry's federal legislative efforts in Washington, D.C. More than 5,000 individuals and farms support the program and the funds are raised primarily through the NTRA's voluntary check-off program supported by buyers and consignors at Thoroughbred auctions equal to one-quarter of one percent of the prices of horses...

The Small Business Administration (SBA) has reopened the application process for the Economic Injury Disaster Loan (EIDL)-COVID-19 related assistance program after a short delay. Farms with fewer than 500 employees whose primary activity is breeding horses may now apply for these loans offered to businesses that have suffered economic hardship as a result of the coronavirus pandemic. "This is welcome news and a terrific opportunity for horse farms that are currently facing a number of daunting challenges," said NTRA President and CEO Alex Waldrop. "The NTRA encourages quick action by...

The National Thoroughbred Racing Association compiled a summary of benefits available to owners under the latest federal COVID-19 legislation. Benefits available to horse owners includes: Tax Benefits: Owners may be entitled to some new tax benefits that allow them to file amended returns for prior years and get cash in the form of tax refunds. Net operating losses can now be carried back for up to five years. This applies to C corporations and individuals who generate net business losses. The IRS is currently accepting faxed refund requests in order...

President Trump signed an emergency aid package providing additional relief to small businesses and health care facilities into law Friday and the Small Business Administration released updated guidance that will assist the horse industry. The new law provides $310 billion to replenish the Paycheck Protection Program (PPP) for small businesses, which was oversubscribed. The additional appropriation will allow financial institutions to make additional forgivable loans to eligible small businesses in order to keep employees on the payroll for eight weeks. The new law also includes $60 billion in loans and...

The NTRA and its Washington, D.C., legislative team, The Alpine Group, and Kentucky-based Dean Dorton, one of the nation's leading experts on equine tax matters, will host a national teleconference to review Federal stimulus bills recently passed to combat the impacts of the coronavirus pandemic. The teleconference, which will be held Wednesday, April 1, at 11:30 a.m. ET., is open to media, representatives of equine businesses, their employees, and other individuals in the equine industry impacted by the coronavirus pandemic. Among the topics to be covered is an in-depth analysis...

NTRA President Alex Waldrop was the first speaker on the NTRA's teleconference Tuesday, during which he spoke at length about the current coronavirus pandemic, recommendations on dealing with it and different steps being taken by the racing industry. The following are some of the highlights of that talk: "So much of this pandemic is local in nature. Central Kentucky has its own special circumstances. Some tracks may be in an area with less community spread. We ask everyone to stay in touch with your state and local health department and...

Champion Midnight Bisou (Midnight Lute) took the lead in this week's NTRA Top Thoroughbred Poll with 376 votes. The position was previously held by fellow champion Maximum Security (New Year's Day), who bested his female counterpart in the $20 million Saudi Cup Feb. 29. In the wake of the doping controversy, which involved Maximum Security's trainer Jason Servis, NTRA voers were given the opportunity to adjust their selections if they wanted. Maximum Security still received 241 votes, but dropped to fourth behind GI Pegasus World Cup victor Mucho Gusto (Mucho...

The U.S. Department of Homeland Security communicated to Congressional offices its intent to release 35,000 additional H-2B visas for the summer season of Fiscal Year 2020. This non-immigrant visa program is used by many industries that need temporary non-agricultural help when domestic workers are unavailable. For the horse racing industry, racehorse trainers rely heavily on the H-2B program to fill various backside positions. While DHS has not yet released a final rule outlining specific details, the agency has provided the following: Federal regulators will release the supplementals in two phases....

Kentucky CPA firm Dean Dorton and the NTRA will host a webinar Feb. 20 focusing on key federal tax reform items for horse and farm owners. The webinar will be hosted by Dean Dorton's Jen Shah, Director of Tax Services and Equine Team Leader, through NTRA.com and will run from 1-2 p.m. EST. "The NTRA is pleased to collaborate once again with the experienced equine tax accountants at Dean Dorton," said Alex Waldrop, President and CEO of the NTRA. "Dean Dorton's team is among the best at communicating the insights...