So-called “NASCAR loophole” tax break set to expire

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This is one from the business of racing department, but the so-called “NASCAR loophole” that accelerates the depreciation of race tracks, and thus provided a small tax break for builders, is pretty much gone for 2014, per a report from the Washington Post.

According to that report, this break allowed NASCAR tracks to, in theory, compete on a level playing field with other theme parks. An earlier Post report from June 2012 said the cut expired itself at the end of 2011, as it was not renewed by Congress. The revenue impact though, wouldn’t happen until Fiscal Year 2013.

The loophole could occur because, according to a 2012 Daily Beast report, NASCAR racetrack owners could deduct the depreciation over seven years instead of the government-estimated 39 years. The cost to the government was estimated at that time at $40 million per year, and the cost to extend, per the Post today, would be $50 million annually.

Your heart will start racing with IndyCar’s new “The Future Starts Now” video

Image courtesy IndyCar
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One of the biggest challenges for any motorsport series — whether it’s NASCAR, NHRA, IndyCar, Formula One and so many others — is to find ways to attract new fans.

That’s particularly important when attempting to lure young fans, especially the much-coveted millennials (born after 1981) and teenagers.

As all series prepare for the upcoming 2018 racing season, kudos have to be given to IndyCar for its new “The Future Starts Now” video, which debuted Tuesday at the North American International Auto Show at Detroit.

Even if it’s five degrees below zero where you’re at, one look at this video and you’ll likely not only start warming up a bit, we bet you’ll start getting even more excited for the start of the 2018 Verizon IndyCar Series season, which begins March 11 in St. Petersburg, Florida.

Check out the new video above and watch if it doesn’t get your heart racing real quick: