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the financial results of horse racing. The horse-racing trade has various financial impacts on society, both within the industry and without. Examination of annual experiences from the states’ racing commissions shows that the trade accounts for funds in excess of $250 million in state taxes and charges each year. The most important single recipient during 2003 was the state of California, which obtained $41.Four million. Racetracks pay thousands and thousands more to local governments.
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