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New Mexico Statutes Chapter 60. Business Licenses § 60-2D-16. Pari-mutuel wagering; taxes

Current as of January 01, 2024 | Updated by Findlaw Staff

Each licensee holding a pari-mutuel bicycle-racing license shall withhold fifteen percent from the pari-mutuel bicycle-racing wagers made and pay daily:

A. thirteen percent of the gross receipts of all pari-mutuel bicycle-racing wagers at a meet to the state treasurer, which shall be deposited in the general fund; and

B. two percent of the gross receipts of all pari-mutuel bicycle-racing wagers made at a meet to the county treasurer of the county in which the meet is held.

These amounts shall constitute the “bicycle-racing pari-mutuel tax”.

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Cite this article: FindLaw.com - New Mexico Statutes Chapter 60. Business Licenses § 60-2D-16. Pari-mutuel wagering; taxes - last updated January 01, 2024 | https://codes.findlaw.com/nm/chapter-60-business-licenses/nm-st-sect-60-2d-16/

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