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In calculating net take from gaming machines, the actual cost to the licensee of any personal property distributed to a patron as the result of a legitimate wager may be deducted as a loss, except for travel expenses, food, refreshments, lodging or services. For the purposes of this section, “as the result of a legitimate wager” means that the patron must make a wager prior to receiving the personal property, regardless of whether the receipt of the personal property is dependent on the outcome of the wager.
Cite this article: FindLaw.com - New Mexico Statutes Chapter 60. Business Licenses § 60-2E-38. Calculation of net take; certain expenses not deductible - last updated May 06, 2021 | https://codes.findlaw.com/nm/chapter-60-business-licenses/nm-st-sect-60-2e-38/
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