Nonprofit horse races

From the 2024 DOR Tax Exemption Study

82.04.350 - Horse racing Description Persons who conduct horse racing events and licensed by the Washington Horse Racing Commission are exempt from the service and other B&O tax but are subject to the pari-mutuel tax. Enacted in 2005, this tax applies a rate of 0.2% through June 30, 2024, and 0.26% thereafter to the income derived from pari-mutuel wagering. Purpose To exempt gross income from B&O tax that is already taxable under the pari-mutuel tax Taxpayer ($ in millions): savings FY 2024 FY 2025 FY 2026 FY 2027 State Taxes CTI CTI CTI CTI Local Taxes $0.000 $0.000 $0.000 $0.000 Repeal of Repealing this exemption would increase revenues. exemption Potential ($ in millions): revenue gains FY 2024 FY 2025 FY 2026 FY 2027 from full repeal State Taxes $0.000 CTI CTI CTI Local Taxes $0.000 $0.000 $0.000 $0.000 Assumptions This exemption impacts fewer than three taxpayers; any impacts are confidential. Data Sources Washington Horse Racing Commission, Annual reports Additional Additional Information Information Category: Nonprofit Year Enacted: 1992 Primary Beneficiaries: Persons who conduct horse racing events Taxpayer Count: Fewer than three Program Inconsistency: None evident JLARC R