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Home » US Law » 2021 New Mexico Statutes » Chapter 60 - Business Licenses » Article 2D - Bicycle Racing » Section 60-2D-16 – Pari-mutuel wagering; taxes.

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”.

History: Laws 1991, ch. 233, § 16.