Second costly threat looms for Prairie Meadows casino
BPC Staff Jun 20, 2016 | 3:12 pm
<1 min read time
0 wordsAll Latest News, Government Policy and Law, Retail and Business, Statewide NewsDes Moines Register: Reclaiming tax-exempt status is only the start of Prairie Meadows’ battle against the IRS. If Prairie Meadows wins that fight, the nonprofit racetrack and casino still faces a potentially greater threat: The IRS contends that slot machines, table games, hotel, restaurant and other nonracing revenue streams should still get taxed as “unrelated business,” according to an IRS audit released last week.
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