LEXINGTON, Ky. (Tuesday, October 28, 2014) – In a recent letter to the United States Treasury, Kentucky Governor Steve Beshear urged the federal government to clarify guidelines relating to the calculation of pari-mutuel winnings for tax purposes. The letter was shared with the National Thoroughbred Racing Association (NTRA) and a copy with the full text is available online at /media/8927769/lew_secretary_jacob_j_102814.pdf.
Beshear is the first governor to voice support for the clarification. Earlier this year, a bipartisan group of 17 congressmen led by Rep. Charles Boustany (R-LA) and Rep. John Yarmuth (D-KY) sent a letter to the Treasury with the same recommendation. That request was formally acknowledged by the Treasury, which said in August that it would take the lawmakers’ wishes into consideration.
Governor Beshear’s letter states in part: