NMSA 1978, § 7-9-40 — 7-9-40

Exemption; gross receipts tax; purses and jockey
remuneration at New Mexico racetracks; receipts from gross
amounts wagered.

# A.

Exempted from the gross receipts tax are the receipts of horsemen, jockeys and
trainers from race purses at New Mexico horse racetracks subject to the jurisdiction of
the state racing commission.

# B.

Exempted from the gross receipts tax are the receipts of a racetrack from the
commissions and other amounts authorized by Section 60-1A-19 NMSA 1978 to be
retained by a racetrack conducting horse races under the authority of a license from the
state racing commission.