GOOD IDEA FOR VIRGINIA?

Kentucky Governor Steve Beshear unveiled his comprehensive tax plan Feb. 4, which proposes several tax breaks for the horse industry in his state.

According to a report by the Associated Press, Beshear’s plan calls for the sale of feed, machinery, and other items used in racing, breeding, etc., to be exempt from sales and use tax. This exemption is currently allowed in the raising of livestock, but has not been allowed for horse farms. The exemption would amount to about $14.8 million a year.

The legislation has been introduced in both houses of the current General Assembly.

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