State Codes and Statutes
Statutes > New-mexico > Chapter-60 > Article-2d > Section-60-2d-1660-2D-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".
