Partnertax.ai
Start free trial →

NMSA 1978 Chapter 7 — Taxation

NMSA 1978, § 7-9-40

7-9-40

Official textnmonesource.comlast amended

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.

Amendment history

1953 Comp., § 72-16A-12.28, enacted by Laws 1970, ch. 60, § 2; 1971, ch. 145, § 1; 1985, ch. 137, § 1; 1989, ch. 260, § 1; 2026, ch. 31, § 10.

Source: official source (NMSA chapter on nmonesource.com)

Report a problem

What's wrong?

Sent anonymously with this page's citation. No personal information is collected.
In this article (40 sections)
  1. 7-9-23.1 · Exemption; compensating tax; boats
  2. 7-9-24 · Exemption; gross receipts tax; insurance companies
  3. 7-9-25 · Exemption; gross receipts tax; dividends and interest
  4. 7-9-26 · Exemption; gross receipts and compensating tax; fuel
  5. 7-9-26.1 · 7-9-26.1
  6. 7-9-27 · Exemption; compensating tax; personal effects
  7. 7-9-28 · 7-9-28
  8. 7-9-29 · 7-9-29
  9. 7-9-30 · 7-9-30
  10. 7-9-31 · 7-9-31
  11. 7-9-32 · 7-9-32
  12. 7-9-33 · 7-9-33
  13. 7-9-34 · 7-9-34
  14. 7-9-35 · 7-9-35
  15. 7-9-36 · 7-9-36
  16. 7-9-37 · 7-9-37
  17. 7-9-38 · 7-9-38
  18. 7-9-38.1 · 7-9-38.1
  19. 7-9-38.2 · 7-9-38.2
  20. 7-9-39 · 7-9-39
  21. 7-9-40 · 7-9-40
  22. 7-9-41 · Exemption; gross receipts tax; religious activities
  23. 7-9-41.1 · 7-9-41.1
  24. 7-9-41.2 · Deleted
  25. 7-9-41.3 · 7-9-41.3
  26. 7-9-41.4 · 7-9-41.4
  27. 7-9-41.5 · 7-9-41.5
  28. 7-9-41.6 · 7-9-41.6
  29. 7-9-42 · Repealed
  30. 7-9-43 · 7-9-43
  31. 7-9-43.1 · 7-9-43.1
  32. 7-9-44 · Repealed
  33. 7-9-45 · Deductions
  34. 7-9-46 · 7-9-46
  35. 7-9-46.1 · 7-9-46.1
  36. 7-9-47 · 7-9-47
  37. 7-9-48 · 7-9-48
  38. 7-9-49 · 7-9-49
  39. 7-9-50 · Deduction; gross receipts tax; lease for subsequent lease
  40. 7-9-51 · 7-9-51
Full table of contents →