• From: Columbia SC
  • Registered: 2010-09-12
  • Posts: 864

Topic: Good news for racing bad news for the economy

As part of their last-second deal to slam the brakes on an economy racing toward the so-called fiscal cliff, lawmakers gave the green light this week to extending dozens of business and industry tax breaks, like a cost-recovery program that will save the owners of "motorsports entertainment complexes" (that is, racetracks) about $70 million over the next two years.

2010, 26th @ CMP, 2011, 10th & 5th at CMP, 2012? (MIA), 2013 Spring CMP, 53rd, 2013 Fall CMP 44th, 2014 Barber 14th, 2014 CMP 46th, 2015 CMP 57th, 2015 CMP 80th, 2016 CMP 16th, 3rd in B class, Winner Judges choice, and First car under 2.0 liter Alex's lemon aide stand winner. 2017 WRL, Road Atlanta 43rd, 2017 NCM 9th O/A , 1st in B class, 2018 CMP 13th O/A 3rd in Class B
  • From: oklahoma city
  • Registered: 2009-10-08
  • Posts: 1,586

Re: Good news for racing bad news for the economy

was that part of the fiscal cliff deal, or the hurricane sandy deal?

Team OK-Speed
Regularly losing in Class A
Soon to start losing in Class C
  • ronman
  • ronman
  • Lemons Staff Stalker
  • Offline
  • From: Orlando, FL
  • Registered: 2009-09-15
  • Posts: 1,842

Re: Good news for racing bad news for the economy

It's part of the "we're from the government, we're here to help" deal.

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  • Registered: 2009-07-19
  • Posts: 1,585

Re: Good news for racing bad news for the economy

I wonder if I could classify the Duff Beer/ASAP Tuning Global Headquarters Campus Facility as a "motorsports entertainment complex"?

Everybody grab your brooms, it's shenanigans!
  • From: Van Nuys, CA
  • Registered: 2011-02-11
  • Posts: 3,862

Re: Good news for racing bad news for the economy

It just allows them to depreciate capital investments on an accelerated schedule. Everything I have invested in in my motorsports entertainment is already fully depreciated, so no help for me.

Constructor/Owner/Driver - Billy Beer Ford Futura

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