Representatives of Iowa’s three race track casinos are considering a deal. Governor Vilsack and legislative leaders discussed yesterday that’d set their state tax rate at 30 percent. Craig Schoenfeld, a lawyer representing the tracks, says they’re not wild about the deal, but willing to consider it. He says all the parties have reached a consensus that the want to work this out.State taxes on the tracks were set to rise to 36 percent, and the tracks sued. The Iowa Supreme Court has ruled that tax is unfair because the riverboat casinos’ tax rate is 20 percent. The matter is to be heard, soon, by the U-S supreme Court. So, rather than gambling on that ruling going their way, the two sides are negotiating a compromise.The Iowa Supreme Court has ruled the state owes the tracks millons in back taxes, and that topic wasn’t discussed in yesterday’s private meeting. The group hopes to make a deal within the next couple of weeks.
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