Ask Decision on Payment Of Tax on Improvement Fund, Daily Racing Form, 1954-05-03

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Ask Decision on Payment PaymentOf Of Tax on Improvement Fund WASHINGTON D C May 1 The Maryland Jockey Club operator of Pimlico race track Friday asked the United States Supreme Court to decide whether major Maryland race tracks must pay federal income taxes on amounts received from a pooled racing fund set up to take care of track improvements and repairs Pimlico brought the issue before the high court by appealing a suit seeking a refund in taxes paid on 75608 received from the racing fund in 1948 to rebuild the racing strip at the Baltimore course The pooled fund is held by the Maryland Racing Commis ¬ sion and each track contributes onehalf of one per cent of all parimutuel wagers As of last December more than 4000 000 had been deposited in the fund by Marylands mile tracks Pimlico claimed that the fund is the property of the state racing body and that the tracks were mere agents in collecting it Payments to the tracks from this pool it was contended were like a construction subsidy and therefore were not income and not taxable by the United States government The Jockey Clubs appeal filed by attorney Llewellyn A Luce of Washington came cameafter after the Fourth Federal Appeals Court disallowed its claim last February 3 Pre ¬ viously the Maryland District Court had ruled in favor of Pimlico


Persistent Link: https://drf.uky.edu/catalog/1950s/drf1954050301/drf1954050301_8_4
Local Identifier: drf1954050301_8_4
Library of Congress Record: https://lccn.loc.gov/unk82075800