NASCAR will take good news wherever it can get it, but from the federal budget deal?
That massive $1.5 trillion dollar tax cut package, which passed in December and took effect in January, includes goodies for so-called motorsports entertainment complexes.
The ins and outs of “write downs” are fascinating to math geeks like me, but the bottom line is — the tax cuts could help save race tracks millions, which, by extension, keeps them open.
The savings are significant. In the 2015 tax year, race tracks saved an estimated $11 million, according to the Huffington Post.
YourCentralValley.com reported the news about the tax breaks for tracks.
The International Speedway Corp, a for-profit business that owns 13 race tracks across the country, including Darlington Raceway, Daytona, and Watkins Glen.