Dear Breeders, Owners and Stallion Owners:
The NYS Thoroughbred Breeding and Development Fund Corporation has some very good news for you. The Fund will be able to pay out 100% of the withholdings on your 2010 earning. Yes, the 30% withholding placed on awards for the entire year, as well as the special 20% withholding imposed on earnings in the second half of 2010, will all be paid out to you.
We expect to make these payouts in March. The Fund’s Chief Financial Officer, Michael DeMarco, says we may even be able to make a supplemental payment to breeders for 2010. What about those 2009 withholdings? Stay tuned to this space, as I hope to have some good news on that front later today.