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Join our Member’s Only Group

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The following is from the American Horse Council:

Join our Member’s Only Facebook Group!

As a member of the AHC, we know want you to stay up to date and informed of the issues that could impact the industry you love.

That’s why we created our Member’s Only group on Facebook- a place where we can post information and updates and get our members immediate feedback.* In addition to the Washington Updates you receive, this is just one more way the AHC is working to keep our members informed and up-to date!

Click below to join the group today!

*Only current AHC members are eligible to join. All requests to join will be subject to verification by the AHC.

Join AHC Members Group

 

2019 Annual Meeting Location Survey

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The following is from the American Horse Council:

February 16, 2018

Help the AHC Pick the 2019 Annual Meeting Location

The AHC is in the process of looking at hotels for our 2019 Annual Meeting and National Issues Forum and we want our member’s opinion!

Please take a moment to complete the survey at the link below. We would appreciate your response no later than Wednesday, February 21st.

Thank you!

Take the Survey

ELD and CDL Webinar Recording

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The following is from the American Horse Council:

February 14, 2018

ELD and CDL Webinar Recording

While registration filled up quickly for the AHC’s First Quarter 2018 webinar on the Electronic Logging Device (ELD) and Commercial Drivers License (CDL) requirements, the AHC recorded the webinar in order to share with our members.

This is a multifactorial issue, with requirements for a CDL varying from state to state. The AHC is planning on hosting a second webinar on this topic in the coming weeks, and will be meeting with the Department of Transportation this coming Friday to further address how to best communicate the complexities of the requirements to the equine industry.

The AHC recommends contacting your state Department of Transportation for specific questions on the CDL regulations for your state. To view a list of state by state contacts, please click here.

If you have any questions, please contact the AHC at info@horsecouncil.org.

View the Recording

Congress Strikes Budget Deal in Wake of Brief Funding Lapse

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The following is from the American Horse Council:

February 9, 2018

Congress Strikes Budget Deal in Wake of Brief Funding Lapse

Renews 3-Year Depreciation for Race Horses for FY2017

Following a procedural roadblock in the Senate that initiated a five-hour government shutdown early Friday – the briefest lapse on record and second in three weeks – Congress passed the Bipartisan Budget Act of 2018, legislation that will fund government operations through March 23 and remove budgetary obstacles to allow longer-term FY2018 appropriations talks to move forward.  Fortunately for the horse industry, lawmakers approved an important tax incentive to restore three-year depreciation of racehorses for FY2017, allowing race horse owners to take advantage of the incentive within their FY2017 tax submission.  This will allow racehorse owners to capture tax benefits that expired in FY2016.  As you recall, the new tax law includes 100% depreciation for racehorses.  The industry will continue to advocate for the 3-year depreciation provision for 2018 and beyond. 

In addition to enacting an important capital cost recovery tool for the horse industry, the budget agreement also removes spending caps until March 2019 and authorizes nearly $300 billion in additional federal spending for the next two years.   Lawmakers hope that addressing the funding caps, effectively ending the “sequester” for the next year, will pave the way for smoother and more long-term budget negotiations through the remainder of 2018. 

To view a summary of the Bipartisan Budget Act of 2018, please click here.

For more information related to the nation’s rapidly changing tax policies, please contact Bryan Brendle, AHC’s Director of Policy & Legislative Affairs at bbrendle@horsecouncil.org or 202-296-4031.

Read on AHC Website

Planning Underway for AHC’s 2018 Issues Forum

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The following is from the American Horse Council:

February 5, 2018

Planning Underway for AHC’s 2018 Issues Forum

The American Horse Council (AHC) is pleased to announce that 2018 National Issues Forum will take place on Tuesday, June 12th at the Capital Hilton in Washington, DC. The theme will be “Let’s Capitalize On It!” and will focus on ways the equine industry can learn and grow from both equine and outside industry segments as well as expanding technology beneficial to both humans and equines.

“This year we wanted to bring in a combination of equine industry and outside industry speakers,” said AHC President Julie Broadway. “It’s always interesting to hear from outside segments about what they are doing to cultivate their own industries and how the equine industry itself can learn and grow from what they are doing. Additionally, we thought it would be fascinating to gain some insight into new technologies that are not only enhancing human lives, but equine ones as well.”

The Forum will kick of Tuesday with speaker Luis Benitez, Director of the Colorado Outdoor Recreation Industry Office, where he will give an overview of his roles and responsibilities, as well as explain how other states could adopt a similar model. Following Mr. Benitez will be a panel titled “Survey Says” and will examine various data trends within the equine industry over the past several years.  The morning will also include a youth engagement panel, “Building the pipeline of future horse enthusiasts,” and will feature representatives from the PGA “First Tee” program, Outdoor Industry Association’s “Outdoor Nation,” and the Center for Creative Leadership.

The afternoon session will start with Dan Ashe, President and CEO of the Association of Zoos & Aquariums (AZA). AZA is a nonprofit association dedicated to the advancement of zoos and aquariums in the areas of conservation, animal welfare, education, science and recreation. Fran Jurga who will examine emerging technologies in the equine industry in a segment “CES 2017- Equestrian Style.”  The afternoon will also include panels of Congressional representatives, and equine aftercare, followed by round table discussion on topics of interests.

New this year, vendors will be set up to provide live demonstrations of emerging technologies including health monitoring sensors for horses and virtual reality demonstrations.

The AHC’s Annual Meeting will take place Sunday, June 10th – Monday, June 11thwhere the various committees of the AHC will meet. The Annual Meeting and National Issues Forum are open to both AHC members and non-members- we encourage anyone involved in the equine industry to attend to learn about new developments and how they can become involved!

Please check the Event page on the AHC’s website at http://www.horsecouncil.org/events for more information as it becomes available. If you have any questions, please contact the AHC at info@horsecouncil.org.

View Tentative Schedule

AHC Encourages Horse Industry to Complete 2018 Ag Census

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The following is from the American Horse Council:

February 2, 2018

AHC Encourages Horse Industry to Complete 2018 Ag Census

The USDA is a little more than one week away from the 2017 Census of Agriculture response deadline of February 5. The American Horse Council (AHC) would like to remind farmers and ranchers of the importance of their input. A national press release was sent out this week and individuals can find it, as well as past census press releases, at www.agcensus.usda.gov/Newsroom/ . Also on the census website are video messages from U.S. Secretary of Agriculture Sonny Perdue, testimonials, the latest ads, and more at www.agcensus.usda.gov/Partners/.

The response rate for the census has been good across much of the United States. However, from the southeast across to Arizona, the return rate has been slightly lower compared to other parts of the country. States with lower return rates at this point are Arizona, New Mexico, Louisiana, Mississippi, Georgia, Florida, and South Carolina. It is important to note that these states have a considerable equine presence, and it is important to make the horse industry impact in these states known.

The AHC will release the National Economic Impact of the United States Equine Industry study later this month, and we are fortunate to be able to have our information come out the same year as the national agricultural census. The population figures the USDA collect, while not comprehensive, are also crucial for the equine industry and the efforts of the AHC here on Capitol Hill.

Please www.agcensus.usda.gov if you have any questions.

Read on AHC Website

AHC Requests Clarification from DOT

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The following is from the American Horse Council:

January 31, 2018

AHC Requests Clarification from DOT

The upcoming Electronic Logging Device deadline has sparked an animated discussion within the horse industry. The AHC would like to note that these are federal regulations that are left to state officials to be enforced. This division of responsibilities, and potentially divergent interpretation, is the basis for the sense of confusion felt across the industry.

The Department of Transportation (DOT) and Federal Motor Carrier Safety Administration (FMCSA) have told the AHC that the regulatory changes within the department are several years behind schedule. As such, addressing the current state of compliance is critically important to the industry and the continuation of the equestrian sport and way of life.

In that light, the AHC is working collectively with the larger livestock industry to seek more concise and plainly presented expectations for the equine industry to follow. The following letter was sent to Secretary Elaine Chao with the Department of Transportation in the hopes that DOT will address these concerns. Depending on the response from Secretary Chao and DOT, AHC is prepared to pursue new regulatory and legislative options that ensure the continuity and protection of the equine industry. View the letter here.

Please contact the AHC if you have any further questions.

Read on AHC Website

First Quarter Webinar to Discuss ELD Mandate

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The following is from the American Horse Council:

January 25, 2018

First Quarter Webinar to Discuss ELD Mandate

The American Horse Council (AHC) will host its First Quarter 2018 webinar on Monday, February 12th at 3:00 pm ET and will address the recent Electronic Logging Device (ELD) Mandate that has caused much confusion and a lot of questions throughout the equine industry.

In light of the recent phone calls and emails with questions about the ELD Mandate and how it is going to not only affect the industry, but individuals as well, the AHC felt it was appropriate for the first webinar for 2018 to address the ELD mandate, and would be a compliment to the brochures that have already been put together on this issue.

The webinar will address the details of what the ELD Mandate includes, and who is required to have an electronic logging device.  Also discussed will be the requirements for Commercial Driver’s License (CDL), as well as what the AHC is doing to mitigate the effects of the proposed changes on the equine industry.

Both AHC members and non-members are encouraged to attend the webinar. The webinar will also be recorded and posted on the AHC website for those that could not attend. Please register online here, and you will receive an email with login instructions two days before the webinar date.

Register for the Webinar

Partisan Gridlock Initiates Federal Government Shut-Down

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The following is from the American Horse Council:

January 20, 2018

Partisan Gridlock Initiates Federal Government Shut-Down

With Congress gridlocked on an agreement to adopt a Continuing Resolution (CR) to fund the federal government into February, the following are some real world consequences that could impact AHC members.   In the unlikely event that the government faces an extended suspension of “non-critical” operations, AHC will inform you about other specific consequences arising from the funding impasse.

  • National Park Service  – With the temporary suspension of federal government operations, the Department of Interior may close the National Park Service (NPS).  During the last government shutdown in 2013, the NPS marked as closed, or gated, all roads accessing national parks.  The NPS also closed all visitor and information centers.  Similar measures during the current shutdown would hinder hikers and horseback riders from gaining access to nearly 60,000 miles of trails under NPS jurisdiction. AHC recommends that members research the status of specific parks prior to planning a visit.
  • National Forest Service, Possible Flexibility  – According to a 2017 “shut down” contingency plan from the Department of Agriculture (USDA), any activity already certified by a permit could move forward in the event of a shutdown, so long as NFS personnel aren’t necessary to guarantee the safety of the participants, per the terms of the permit. However, NFS has the discretion to apply these contingencies on a “case-by-case” basis.  AHC recommends that members research the status of specific NFS trail closures beforehand.
  • Animal Plant and Health Inspection Service (APHIS) – According to a USDA memorandum, the White House Office of Management and Budget (OMB) has identified at least some APHIS functions as exempt from a shutdown, based on their role in protecting public health.  This includes APHIS’ Safety and Security Unit (SSU), which oversees health, safety, and security issues for employees of the National Centers for Animal Health (NCAH).
  • Critical Services – As a general rule, federal employees involved in “critical services” will not be subject to a furlough.  This group includes air traffic controllers, military personnel, and hazardous waste handlers, among others.  Other exempted services include USDA’s inspection and quarantine of animals prior to import or export (see above).
  • U.S. Mail – Finally, U.S. postal workers are not exempt from a federal funding furlough and will continue to deliver the mail.

Federal officials don’t anticipate an extended shut down of government operations.  For details related to the budget impasse and its near-term consequences, please contact Bryan Brendle, Director of Legislative Affairs, at  bbrendle@horsecouncil.org.

Read on AHC Website

 

 

AHC Tax Bulletin-January 2018

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The following is from the American Horse Council:

AHC’s Tax Bulletin is Sponsored by

The American Horse Council keeps you up to date with important tax court cases and regulations with its bi-monthly Tax Bulletin. The Tax Bulletin is a member benefit, and thus is not intended for reproduction. For more information on federal legislation, equine health and regulatory issues, taxes, animal welfare, racing, recreation, and showing please visit our website at www.horsecouncil.org

Horse Industry Faces New Tax Landscape in 2018

Following President Trump’s signing of the new tax law on December 22, federal policy makers began immediately to discuss the likelihood of moving legislation in 2018 to address technical changes and clarifications to the 1100 page law.  While AHC takes a deeper dive into the tax law to address in more detail those provisions having a direct impact on the horse industry, please click to lin below to login and view the highlights that will impact your tax filing for Fiscal Year 2018.

Login to read the January Tax Bulletin

Tax Court Rules Owner Did Not Operate Horse Activity as a Business for Profit

By Thomas A. Davis, Esq., Davis & Harman, LLP

Since childhood, the taxpayer has been an amateur horsewoman. In 2005, she started Big Dog Farms (BDF) for the purpose of breeding, selling, and showing horses. Operations at BDF ceased in 2011.

Login to read the January Tax Bulletin

Horse Owners Ability to Utilize a Section 179 Deduction Against Income from Multiple Active Trades or Businesses

By:  Joel B. Turner, Esq. and Nelson D. Rhodes IV, Frost Brown Todd, Lexington, KY

While the Internal Revenue Code (“the Code”) allows taxpayers to deduct from taxable income all ordinary and necessary expenses incurred in carrying out an active trade or business,  generally, when purchasing tangible business assets with a useful life greater than a taxable year, the asset must be capitalized rather than deducted from business income for the year the property is placed in service. Under the Code, taxpayers are generally allowed to take an annual depreciation deduction for the wear, tear, and deterioration of their capitalized tangible property used in an active trade or business over an applicable recovery period.  For race horses, the current applicable recovery period is 3-years from the time the horse is placed in service (i.e., begins training). For broodmares and stallions, the current applicable recovery period is 7-years.

Login to read the January Tax Bulletin

The AHC Tax Bulletin is a digest of current tax developments affecting the horse industry. The AHC Tax Bulletin is for informational purposes only and not intended to take the place of professional tax counsel.

Download a PDF of the Tax Bulletin

 

 

Landmark Tax Bill Crosses the Finish Line

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The following is from the American Horse Council:

Landmark Tax Bill Crosses the Finish Line

The Senate hustled early Wednesday morning, December 20 to pass the Tax Cuts and Jobs Act of 2017 by a vote of 51-48.  Although the House passed the bill Tuesday afternoon, congressional budget rules required the Senate to return the bill to the House for a revote on Wednesday to address technical changes.  While details related to the 1100-page conference report on the final legislation continue to emerge, please see the below highlights that will have the most direct impact on the horse industry:

Business Provisions

  • Corporate Taxes :  The new tax law reduces the corporate income tax rate from 35% to 21% and takes effect January 1.  AHC members filing as “C corporations,” which are generally identified by the suffix, “Inc.,” will see an immediate reduction in their official, or statutory tax rate.  AHC members filing as “C corporations” would include racetracks, makers of pharmaceuticals and agricultural equipment, and large breeding operations governed by officers and a board of directors, among others.  While many policy experts believe that the new tax code will be easier to navigate from a business perspective, corporate taxpayers’ effective liability will vary to the extent they are able to utilize the new code’s remaining deductions, some of which are outlined below.
  • Small Business, “Pass-Through” Deduction :  The Tax Cut and Jobs Act establishes a 20% deduction for the first $315,000 of joint income, or $157,500 for individual filers, from “pass-through” entities such as partnerships, sole proprietorships and S corporations.  This new provision could benefit small businesses that generally report incomes at or near the new threshold level.  While various types of “pass-throughs” constitute the fastest growing segment of AHC members, they also include the majority of U.S. farms.  According to Department of Agriculture data, 85% of domestic agriculture production comes from “pass through” entities.
  • Bonus Depreciation of Equipment: The House and Senate conference report includes 100% bonus depreciation – an increase from the current 50% rate – through  December 31, 2022, for property placed in service after September 27, 2017.  Beginning in 2023, bonus depreciation is reduced from 100%, to 80% in 2024, then falls by 20% increments each year through 2026.  Farm equipment used in a business operation, breeding stock and according to a preliminary reviews of the final language, race horses will benefit from the robust deduction.
  • Losses at the Racetracks :  The final law preserves the deduction of losses “sustained … on wagering transactions to the extent of the gains” realized “during the taxable year.”  However, the law clarifies that the “limitation on losses from wagering transactions applies not only to the actual costs of the wages, but to other expenses incurred by the individual in connection with the conduct of that individual’s gambling activity.”  For example, the law subjects the deduction for travel expenses to and from a racetrack to the cap established by the amount of the gains.  Like many of the deductions in the bill, the provision sunsets after 2025.
  • Alternative Minimum Tax (AMT) – The new law repeals the corporate AMT, ending the need to calculate tax liability twice for a single filing.
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Confused About the ELD Mandate? We Can Help.

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The following is from the American Horse Council:

Confused About the ELD Mandate? We Can Help.

On November 30th , the AHC sent out a Washington Update to our members on our efforts to address the Electronic Logging Device (ELD) Mandate. The AHC, in collaboration with the rest of the animal agriculture community, has requested that the Department of Transportation (DOT) grant a one-year enforcement delay followed by a waiver and limited exemptions from compliance with the December 18, 2017 implementation date for the Final Rule on Electronic Logging Devices (ELDs) and Hours of Service (HOS). Additionally, we requested that the DOT address the significant problems with the mandate that will occur if the compliance deadline is not extended. The welfare, safety, and health of the animals in transit, together with the safety of other drivers on the road, are top priorities for the equine industry and its enthusiasts.

The introduction of the ELD mandate has also brought to light concerns about Commercial Driver’s license (CDL) requirements from the entire equine community. Drivers have been required to have a CDL in order to drive certain commercial motor vehicles (CMV’s) since April 1, 1992. That being said, a truck and trailer can be considered a commercial vehicle without the requirement that you obtain a CDL. The AHC would like to note that the requirements for a CDL or CMV classification have been in effect for quite some time, and are not new developments along with the ELD mandate.

In an effort to help provide some clarity for both our members and the general equine industry, the AHC has put together two brochures: “Electronic Logging Device Mandate: How Will It Affect You?” and “Commercial Driver’s License: How do I Know if I Need One?” Both are available as a .pdf on the AHC’s website here:http://www.horsecouncil.org/eld-mandate-cdl-requirements/

We encourage our members to share this information, and please contact the AHC if you have any additional questions.

Read on AHC Website

 

Senate Passes Tax Bill, Moves to “Conference” to Negotiate Final Package

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The following is from the American Horse Council:

Senate Passes Tax Bill, Moves to “Conference” to Negotiate Final Package

Senators scrambled Saturday, December 2, to muster the necessary 51 votes to pass its version of the Tax Cuts and Jobs Act of 2017, effectively laying down a marker to jump start negotiations with the House of Representatives on a final package.  While details related to the senate bill continue to emerge, please see the below highlights of key provisions that will impact the equine industry.  Many of these provisions diverge from the House-passed version and could be subject to changes during the House and Senate conference, which congressional leadership will organize this week:

Business Provisions

  • Corporate Tax Rate: The senate bill delays reduction of the corporate tax rate from 35% to 20% until 2019. By contrast, H.R. 1 provides an immediate corporate tax cut, effective in 2018.  Lawmakers will have to bridge this gap during the conference committee.
  • Small Business:  The senate vehicle establishes a 23% deduction for small business income of “pass-thru entities,” or small companies which opt to pay taxes under the individual rate.  Senators included this deduction to address concerns from lawmakers who claimed that previous versions of the bill did not create sufficient tax relief for small business.
  • Expensing: While the House bill and a previous version of the senate vehicle provided 100% bonus depreciation, the final senate bill appears to modify treatment of bonus depreciation to “phase down … the percentage from 100% by 20% per calendar year.”  AHC largely supports the House treatment of expensing, which according to Hill sources, includes a broad legislative definition to allow full expensing of horses.
  • Alternative Minimum Tax (AMT) – According to Hill sources, the senate vehicle preserves a 20% corporate, alternative minimum tax.  The House bill repeals the unpopular provision altogether, laying the groundwork for a major discussion point during negotiations for a final package.
  • Name and Logo Royalties:  The senate bill strikes a provision from a previous version of the bill that treated “name and logo royalties” as unrelated business taxable income.
  • Wagering Losses:  A previous version of the senate bill states that it amends the existing tax code provision that addresses treatment of gambling winnings, without specifying how.   The current senate vehicle does not appear to clarify this provision, which AHC will continue to monitor.
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2017 Census of Agriculture Gets Underway

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The following is from the American Horse Council:

2017 Census of Agriculture Gets Underway

USDA’s National Agricultural Statistics Service has started mailing the 2017 Census of Agriculture to America’s horse farms. Mailing in phases, all census questionnaires should be received by late December. If you do not receive a questionnaire this year, or have not received one ever, but wish to be included, you can sign up at https://www.agcounts.usda.gov/legacy0/cgi-bin/counts. Producers can respond online at www.agcensus.usda.gov or by mail. The American Horse Council encourages all qualified operations to participate and be counted. The deadline to respond is February 5, 2018.

Conducted once every five years, the census aims to get a complete and accurate picture of American agriculture. The resulting data are used by trade associations, researchers, policymakers, extension educators, agribusinesses, and many others. The data can play a vital role in community planning, farm assistance programs, technology development, farm advocacy, agribusiness setup, rural development, and more. This information may provide a critical snapshot of the equine industry that, when coupled with the AHC Economic Impact Study, will provided the evidence needed to affect important change here in Washington D.C.

For more information, visit www.agcensus.usda.gov or call (800) 727-9540.

Read on AHC Website

American Horse Council Efforts to Address ELD Mandate

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The following is from the American Horse Council:

American Horse Council Efforts to Address ELD Mandate

Over the past months the American Horse Council (AHC) has reached out to the equine community to determine the potential impact of the upcoming Electronic Logging Device mandate. Based on the information received, the AHC, in collaboration with the rest of the animal agriculture community, has requested that the Department of Transportation (DOT) grant a one-year enforcement delay followed by a waiver and limited exemptions from compliance with the December 18, 2017 implementation date for the Final Rule on Electronic Logging Devices (ELDs) and Hours of Service (HOS). Additionally, we requested that the DOT address the significant problems with the mandate that will occur if the compliance deadline is not extended. The welfare, safety, and health of the animals in transit, together with the safety of other drivers on the road, are top priorities for the equine industry and its enthusiasts.

Continue Reading

Contact Congress TODAY

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The following is from the American Horse Council:

As Congress continues to negotiate a final spending package for FY2018, the horse industry and its allies have an opportunity to assure that lawmakers include H-2B guest worker visa relief in the final bill.   Federal lawmakers must address this issue prior to the expiration of the FY2017 appropriations measure, which occurs on December 8This creates a three week window to contact your elected officials in Washington and tell them you need common-sense, guest worker visa flexibility. 

Please contact your federal lawmakers today! By clicking on the TAKE ACTION button below, you can urge them to support any provision that will provide H-2B visa cap relief within the context of FY2018 appropriations bills.

Take Action

Senate Unveils Tax Reform Details

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The following is from the American Horse Council:

Senate Unveils Tax Reform Details, Doubles Estate Tax Exemption without Full Repeal

On the heels of the House of Representatives’ release of the Tax Cuts and Jobs Act (H.R. 1) last week, the Senate Finance Committee began to roll out details related to its tax reform bill on Thursday afternoon, not releasing text and an official revenue “score” until Thursday night.  There are some major differences between the two bills that both chambers must reconcile prior to presenting legislation to the president’s desk for his signature.   Notably for the equine and broader agriculture sectors, the senate plan would double the exemption for the estate tax without eliminating it altogether, as provided in H.R. 1. The Senate Finance Committee will begin to mark-up the legislation on Monday, November 13.    Please see the below highlights, outlining some key provisions that will impact the equine industry:

Business Provisions

  • Corporate Tax Rate: The senate bill delays reduction of the corporate tax rate from 35 percent to 20 percent until 2019. By contrast, H.R. 1 provides an immediate corporate tax cut, effective in 2018.
  • Expensing: The senate bill provides “100% bonus depreciation within five years,” which is similar to a provision in H.R. 1.
  • Business Interest: The plan states that small businesses will be able to deduct interest on loans intended to finance the growth of operations and inventory.
  • Alternative Minimum Tax (AMT) – Like H.R. 1, the senate bill eliminates the unpopular AMT, which doubles the amount of time taxpayers must spend to calculate their business or individual tax liability within any given year.
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House Releases Tax Reform Details

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The following is from the American Horse Council:

House Releases Tax Reform Legislation, Moves Forward with Small Business, Estate Tax Relief

The House Ways and Means Committee has shared highlights and text on historic tax reform legislation, the Tax Cuts and Jobs Act of 2017.  While highlights from the bill are outlined below, AHC is currently reviewing the fine print of the 429-page legislation, received from the tax committee shortly after 12:00 PM ET.  Today’s release initiates a long over-due effort to streamline the nation’s 70,000 page tax code.  In a move that is consistent with advocacy from the equine industry and its allies, the House bill will repeal the estate tax after six years, and reduce rates for small business, or so-called “pass through” entities.  Please see the below highlights, focusing on issues that have the most significant impact on the equine industry:

Business Provisions

  • Small Business: The bill sets a maximum tax rate of 25 percent on small business, or “pass through” entities.  Under current law, small businesses can pay federal taxes at rates as high as 39.6 percent.
  • Corporate Tax Rate: The bill lowers the corporate rate to 20 percent, down from the current 35 percent corporate tax rate.
  • Expensing: The plan will “allow business to immediately write off the full cost of new equipment.”
  • Business Interest: The plan also states that small business will be able to deduct interest on loans that allow job creators to “hire workers and increase paychecks.”
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National Equine Health Plan Published

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The following is from the American Horse Council:

National Equine Health Plan Published

Valuable resource will help curtail risk of disease spread

The American Horse Council (AHC), in conjunction with the American Association of Equine Practitioners (AAEP), the United States Department of Agriculture (USDA), and state animal health officials, is pleased to announce that the National Equine Health Plan (NEHP) is now available at equinediseasecc.org/national-equine-health-plan.

The horse industry is unique because horses are transported with more frequency than other livestock. It’s been seen firsthand how disease outbreaks cost the industry millions of dollars for the care of sick horses, implementation of biosecurity, and lost revenue in the form of cancelled or restricted commercial equine activities such as horseshows. In 2013, the industry felt it was time to step up and address the issue of the handling of disease outbreaks and the dissemination of information surrounding the outbreaks. This gave way to the creation of the NEHP that will outline the issues surrounding the prevention, diagnosis and control of diseases and the responsibilities and roles of the federal and state authorities and the industry.

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Topic and Speakers Announced for AHC’s 4th Quarter Webinar

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The following is from the American Horse Council:

Topic and Speakers Announced for 4th Quarter Webinar

Tax Reform and its implications to be discussed

The AHC is pleased to announce the topics and speakers for its 4th Quarter webinar, which will take place Monday, November 13th at 3:00 pm ET.

“Will the grass be greener on the other side of Tax Reform?” will be the focus of the webinar, and will feature speakers Danielle Beck, Director of Government Affairs for the National Cattlemen’s Beef Association (NCBA); Liz Minneman, Senior Legislative Assistant to Congressman Andy Barr (R-KY); and Alex Waldrop, President & CEO of the National Thoroughbred Racing Association (NTRA).

The equine industry and its partners in the agriculture and small business sectors continue to engage Congress and the Administration on key elements of the GOP’s ‘unified framework for tax reform’ that was released on September 27. The AHC feels it is important to provide the industry with some detailed background information as to how this plan will affect them or their business, as well as get insights from other segments of the agriculture industry and Capitol Hill itself.

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