Tuesday, October 7, 2008

The Wall Street Bail Out Package & NASCAR

In the 450 page documentation that represents the Wall Street Bail Out Package that amounts to $700 billion, there's a section that relates to NASCAR.

In that section, it indicates that corporations that own race tracks will be able to write off the cost of running their operations over a 7 year period of time, versus the 15 year time frame they're using now.

This tax break is worth around $100 million in breaks. The organization that will reap the most benefits from this detail will be International Speedway Corp., ISC, the racetrack arm of NASCAR.

Both entities are controlled by the France family.

Source
Additional: NASCAR Article
Bailout 101: What the new law says

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