gambling or animal racing property
Defined in 1 place of the United States Code.
The term “gambling or animal racing property” means—
(I) any equipment, furniture, software, or other property used directly in connection with gambling, the racing of animals, or the on-site viewing of such racing, and
(II) the portion of any real property (determined by square footage) which is dedicated to gambling, the racing of animals, or the on-site viewing of such racing.
Source
- 2005–present26 U.S.C. § 1400NInternal Revenue Code · Tax benefits for Gulf Opportunity Zone · in this section