OHIO TO BEGIN THOROUGHBRED RACING AT THISTLEDOWN AND BELTERRA
STAKES CALENDAR REVISIONS ARE POSTED
The Ohio State Racing Commission on Wednesday, May 20, approved the racing dates for the resumption of live racing at Belterra Park and Thistledown. Live racing will be conducted without spectators. An all-encompassing program has been created to insure the health of all backstretch workers, trainers and racing officials.
The Thistledown barn area will open for set up as well as the shipping in of horses on May 26th.
The first day of training will be May 28th. The first day of live racing will be Thursday, June 4th.
Racing will be conducted on a Monday through Thursday schedule with several additional dates to be added to the calendar shortly. First post time is 12:50pm.
At Belterra Park, trainers will be able to set up in the barn area beginning May 29th. Horses residing in Ohio and Kentucky may begin shipping in to Belterra Park on May 30th.
The first day of training at Belterra Park will be on June 1st and horses from other states can ship in on this date.
Opening day for live racing will be Thursday, June 4th.
After opening week, racing will be conducted on a Tuesday-Friday schedule each week with a post time of 12:35pm at least until or if spectators are allowed back.
Scheduled stakes races will remain at the $75,000 level, those that were not run will not be rescheduled. Thanks to the support of the H.B.P.A. these races will be offered at that level and the Best of Ohio Series at Thistledown and Mahoning Valley will still offer purses of $100,000 .
Mahoning Valley is expected to run their race days and dates as previously scheduled.
Hopefully, spectators will be able to return in the near future. Until then, wagering and viewing should be available through some of the many Advance Deposit Wagering outlets.
2020 Ohio Thoroughbred Race Fund Stakes Schedule
4-Jun Thursday The Michael F. Rowland Memorial Handicap 3-Year-Old & up Accredited Thistledown 6 furlongs 75,000
18-Jun Thursday George Lewis Memorial 3-year-Old & up Accredited Thistledown 11/16 miles 75,000
18-Jun Thursday The J. William Petro Memorial Handicap 3-Year-Old & up (F&M) Thistledown 11/16 miles 75,000
27-Jun Saturday The Daniel Stearns Cleveland Gold Cup 3-Year-Old Thistledown 11/8 miles 75,000
3-Jul Friday The Hoover Stakes 2-year-Old Belterra Park 51/2 furlongs 75,000
3-Jul Friday The Cincinnatian Stakes 3-Year-Old Accredited (F) Belterra Park 11/16 miles (T) 75,000
10-Jul Friday The Jim Morgan Memorial – Tah Dah Stakes 2-Year-Old (F) Belterra Park 51/2 furlongs 75,000
10-Jul Friday The Vivacious Handicap 3-Year-Old & up (F&M) Belterra Park 11/16 miles (T) 75,000
17-Jul Friday The Buckeye Native Stakes 3-Year-Old & up Accredited Belterra Park 11/16 miles (T) 75,000
17-Jul Friday The Tomboy Stakes 3-Year-Old (F) Belterra Park 11/16 miles (T) 75,000
7-Aug Friday The Horizon Stakes 3-Year-Old Accredited Belterra Park 11/16 miles (T) 75,000
8-Aug Saturday The Best of Ohio Cleveland Kindergarten Stakes 2-Year-Old Thistledown 6 furlongs 100,000
8-Aug Saturday The Best of Ohio Miss Ohio Stakes 2-Year-Old (F) Thistledown 6 furlongs 100,000
8-Aug Saturday The Best of Ohio Honey Jay Stakes 3-Year-Old & up Thistledown 6 furlongs 100,000
8-Aug Saturday The Best of Ohio Pay The Man Stakes 3-Year-Old & up (F&M) Thistledown 11/8 miles 100,000
8-Aug Saturday The Best of Ohio Governor’s Buckeye Cup Stakes 3-Year-Old & up Thistledown 11/4 miles 100,000
4-Sep Friday The Miss Southern Ohio Stakes 3-Year-Old & up Accredited (F&M) Belterra Park 11/16 miles (T) 75,000
10-Sep Thursday The Michael G. Mackey Memorial-Angenora Stakes 3-Year-Old & up (F&M) Thistledown 6 furlongs 75,000
18-Sep Friday Loyalty Stakes 2-year-Old Accredited Belterra Park 6 furlongs 75,000
24-Sep Thursday The Catlaunch Stakes 3-year-Old & up Accredited Thistledown 11/16 miles 75,000
3-Oct Saturday The Emerald Necklace Stakes 2-year-Old (F) Accredited Thistledown 6 furlongs 75,000
8-Oct Thursday The Scarlet & Gray Handicap 3-Year-Old & up (F&M) Thistledown 6 furlongs 75,000
31-Oct Saturday The Best of Ohio Distaff Stakes 3-Year-Old & up (F&M) Mahoning Valley 11/8 miles 100,000
31-Oct Saturday The Best of Ohio Endurance Stakes 3-Year-Old & up Mahoning Valley 11/4 miles 100,000
31-Oct Saturday The Best of Ohio Sprint Stakes 3-Year-Old & up Mahoning Valley 6 furlongs 100,000
31-Oct Saturday The Best of Ohio Juvenile Stakes 2-Year-Old Mahoning Valley 11/16 miles 100,000
31-Oct Saturday The Best of Ohio John Galbreath Memorial Stakes 2-Year-Old (F) Mahoning Valley 11/16 miles 100,000
7-Nov Saturday Ohio Debutante Handicap 3-Year-Old & up Accredited (F&M) Mahoning Valley 1 mile* 75,000
21-Nov Saturday The Cardinal Handicap 3-year-Old & up Mahoning Valley 6 furlongs 75,000
21-Nov Saturday The First Lady Stakes 3-Year-Old (F) Mahoning Valley 6 furlongs 75,000
28-Nov Saturday The Glacial Princess Stakes 2-Year-Old Accredited (F) Mahoning Valley 6 furlongs 75,000
28-Nov Saturday The Ruff/Kirchberg Memorial Handicap 3-Year-Old & up Accredited Mahoning Valley 1 mile* 75,000
19-Dec Saturday The Joshua S. Radosevich Memorial-Ohio Freshman Stakes 2-Year-Old Accredited Mahoning Valley 6 furlongs 75,000
19-Dec Saturday The Bobbie Bricker Memorial Handicap 3-Year-Old & up Accredited (F&M) Mahoning Valley 1 mile* 75,000
* – Distance will change to 1 Mile & 70 Yards with field size of 8 or greater
Below is the resolution that was approved by the Ohio Racing Commission on 5/14/2020. The key phrase in it is that the racetracks MAY open their facilities for horseman. The resolution is just that, an approved resolution – not a directive. Headlines in local papers and websites are delivering the message that backstretch access and live racing will happen on specific dates, which is not the case.
In a conversation with Ohio H.B.P.A. Executive Director Dave Basler, he indicates that the door is now open now for spectator-free live racing at Thistledown and Belterra and the Racing Commission and H.B.P.A. have made their feelings very clear on the matter. Don’t load your horses on a van just yet, but know that each track is making sure the protocols will be in place and are expected to open in the weeks ahead. When that day comes, it will be announced to the horsemen immediately.
As you can imagine, there are many phases that have to be addressed. Staff for the racing office, officials, security and maintenance crew for the track and backside will have to be hired and trained to use the new protocols while performing their duties. There may be changes in the schedule of racing days and post times to best take advantages of exposure for racing coverage and Advanced Deposit Wagering.
There is a strong feeling that it won’t all come together overnight, but it WILL happen in the very near future. We need only to look at the tracks that have raced successfully under these new guidelines to see that it can work. May you all be safe and your horses sound.
OHIO STATE RACING COMMISSION RESOLUTION 2020-11(A)
WHEREAS, the Ohio State Racing Commission (“Commission”) has the authority under Revised Code 3769.06 to issue a permit to hold or conduct horse racing and the permit shall include the days upon which the horse racing is to be held or conducted;
WHEREAS, The Commission has issued a permit to Belterra Park Racetrack and JACKThistledown Racetrack to conduct Thoroughbred horse racing in 2020;
WHEREAS, The Commission has issued a permit to Scioto Downs Racetrack and Northfield Park Racetrack to conduct Standardbred horse racing in 2020;
WHEREAS, Since March 18, 2020, Thoroughbred horse racing and Standardbred horse racing has not been conducted in the State of Ohio due to the COVID-19 pandemic;
WHEREAS, The Commission desires to give permission to these permit holders when horse racing may resume in the State of Ohio; WHEREAS, To ensure the safety of all horse racing participants, the Commission has developed Protocols for a Safe Return to Racing without Spectators (“Protocols”) which are attached and incorporated by reference;
NOW, THEREFORE, BE IT RESOLVED, by the Commission that Belterra Park Racetrack and JACKThistledown Racetrack may open their facilities for horsemen and horses to move in including dormitories and to conduct training and workouts starting on May 16, 2020. Belterra Park Racetrack and JACKThistledown Racetrack may resume live horse racing starting on May 22, 2020. Belterra Park Racetrack and JACKThistledown Racetrack are subject to and shall comply with the Protocols;
NOW, THEREFORE, BE IT RESOLVED, by the Commission that Scioto Downs Racetrack and Northfield Park Racetrack may open their facilities for horsemen and horses to move in and to conduct training and qualifiers starting on May 16, 2020. Scioto Downs Racetrack and Northfield Park Racetrack may resume live horse racing starting on May 22, 2020. Scioto Downs Racetrack and Northfield Park Racetrack are subject to and shall comply with the Protocols;
NOW, THEREFORE, BE IT RESOLVED, by the Commission due to this unprecedented and very fluid situation caused by the COVID-19 pandemic, the commission chairman and/or the commission executive director is hereby authorized to change the Protocols as circumstances dictate and they deem necessary without having to return to the commission for approval.
NTRA ISSUES SUMMARY OF BENEFITS TO HORSE OWNERS UNDER NEW FEDERAL COVID-19 LEGISLATION
LEXINGTON, Ky. (April 29, 2020) – As part of its ongoing work to help the industry navigate the hardships brought on by the coronavirus pandemic, the National Thoroughbred Racing Association (NTRA) compiled a summary of benefits available to owners under the latest federal COVID-19 legislation.
“Given that every business and financial situation is unique, owners need to consult their tax and financial advisors to ensure they are accessing all the benefits to which they are entitled to under the new law,”
said NTRA President and CEO Alex Waldrop. “We thank Jen Shah, CPA, and Director of Tax Services for the Lexington, KY accounting firm, Dean Dorton, and Lauren Bazel, Vice President and tax policy advisor for the NTRA’s Washington, DC lobbying firm, The Alpine Group, for assisting in the preparation of this tax guidance.”
Benefits available to horse owners includes:
1. Tax Benefits. Owners may be entitled to some new tax benefits that allow them to file amended returns for prior years and get cash in the form of tax refunds.
a. Net operating losses can now be carried back for up to 5 years. This applies to C corporations and individuals who generate net business losses. The IRS is currently accepting faxed refund requests in order to expedite these cash refunds.
b. The excess business loss limitation for individuals, trusts and estates is now deferred until 2021. Those who were subject to this limitation in 2018 and 2019 may file amended tax returns to receive cash refunds.
c. The prior year AMT credits in C corporations, originally refundable through 2021, are now fully refundable in 2018 or 2019. The IRS is currently accepting faxed refund requests in order to expedite these cash refunds.
2. Emergency Injury Disaster Loans (EIDL) are available to owners regardless of whether they have employees to assist in funding working capital needs (e.g., payment of training and board bills). In some instances, the borrower may be entitled to a $10,000 forgivable loan advance. The initial loan disbursements (in addition to the $10K advance) are available based on two months of working capital, with a maximum of $15,000 per applicant. The first loan payment back to SBA on EIDLs is deferred for one year.
a. The EIDL program does not require a business to have employees who receive W-2 wages but the SBA is currently distributing the $10k EIDL advances that are not required to be repaid to only those businesses with employees or self-employed individuals. They are calculating these as $1k per employee up to $10k maximum per applicant.
b. Through the EIDL program, the SBA is also supposed to be quickly distributing two months of working capital up to $15k per application. So, racing stables, trainers, and others without employees should still apply thru the EIDL program, although these loans will have to be repaid. Loan applications for the EIDL loan program will be available on the SBA’s website once the SBA has posted it.
3. The Main Street Lending Program will enhance support for small and mid-sized businesses that were in good financial standing before the crisis by offering 4-year loans to companies employing up to 10,000 workers or with revenues of less than $2.5 billion. Principal and interest payments will be deferred for one year. The Federal Reserve and the Treasury recognize that businesses vary widely in their financing needs and are still working on the specific guidelines for this program, which are expected to be finalized by May 1st.
4. The Paycheck Protection Program (PPP) has been funded with an additional $310B in the latest Congressional act passed on April 24, 2020, $60B of which is designated for smaller banks and credit unions. Those loan terms include two-year loans at 1% interest, deferral of payments for six months, interest accrued from the date the loan is received and no prepayment penalty. Also, the PPP loan may be forgivable if spent on qualifying expenditures (payroll, rent or mortgage interest and utilities). The exact forgiveness calculation for the PPP loan is pending additional guidance from Treasury.
PPP loans are available to owners but only under specific circumstances:
a. Owners are generally required to have employees who receive W-2 wages to take advantage of the PPP.
b. Owners in Partnerships with both employees who receive W-2 wages and self-employment income of partners should include both the W-2 wages and the partners’ self-employment income when calculating the partnership’s PPP loan. The partnership only should file the application.
c. Self-employed sole proprietorships and pass-through single-member entities (e.g. LLCs) may qualify for a PPP loan if they have 2019 Schedule C or Schedule F net profit (2019 Net Profit). If 2019 Net Profit is less than zero, then that entity is not eligible for a PPP loan. PPP loan forgiveness for sole proprietors is limited to 8/52nds of 2019 Net Profit.
d. Employers who have received a PPP loan, but whose loan is not yet forgiven, may defer deposit and payment of the employer’s share of Social Security taxes beginning on March 27, 2020 until the loan is forgiven. These taxes will continue to be deferred under the normal payment terms for the PPP program. Once the employer’s PPP loan is forgiven, this deferral is no longer available.
5. Employee Retention Payroll Tax Credit. The CARES Act created payroll tax credits for employers who retain W-2 employees if the business is fully or partially suspended due to COVID-19 orders from a government agency or if there is a 50% decrease in gross receipts when compared to the prior calendar quarter. This is essentially a refundable payroll tax credit of up to 50 percent of the “qualified wages” paid by an employer to an employee from March 13 through December 31, 2020. Qualified wages include salaries and employer-provided health benefits and cannot exceed $10,000 per employee. This credit for an employee who earns at least $10,000 annually is capped at $5,000. This credit is only available to employers that do not receive a PPP loan and additional restrictions apply for those with more than 100 employees. An advance of this credit may be requested via the IRS Form 7200; otherwise, this may be claimed on the quarterly payroll tax return.
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