CHAPTER 2: GROSS RECEIPTS
TAXES
PART 128: EXEMPTION
- GROSS RECEIPTS TAX - PURSES AND JOCKEY REMUNERATION
AT
NEW MEXICO RACETRACKS - RECEIPTS FROM GROSS AMOUNTS WAGERED
3.2.128.1 ISSUING AGENCY: Taxation and Revenue Department, Joseph M. Montoya Building, 1100 South St. Francis Drive, P.O. Box 630, Santa Fe NM 87504-0630
[11/15/96; 3.2.128.1 NMAC - Rn, 3 NMAC 2.40.1, 5/15/01]
3.2.128.2 SCOPE: This part applies to horsemen, jockeys, trainers of horses and racetracks.
[11/15/96; 3.2.128.2 NMAC - Rn, 3 NMAC 2.40.2, 5/15/01]
3.2.128.3 STATUTORY AUTHORITY: Section 9-11-6.2 NMSA 1978.
[11/15/96; 3.2.128.3 NMAC - Rn, 3 NMAC 2.40.3, 5/15/01]
3.2.128.4 DURATION: Permanent.
[11/15/96; 3.2.128.4 NMAC - Rn, 3 NMAC 2.40.4, 5/15/01]
3.2.128.5 EFFECTIVE DATE: 11/15/96, unless a later date is cited at the end of a section, in which case the later date is the effective date.
[11/15/96; 3.2.128.5 NMAC - Rn, 3 NMAC 2.40.5 & A, 5/15/01]
3.2.128.6 OBJECTIVE: The objective of this part is to interpret, exemplify, implement and enforce the provisions of the Gross Receipts and Compensating Tax Act.
[11/15/96; 3.2.128.6 NMAC - Rn, 3 NMAC 2.40.6, 5/15/01]
3.2.128.7 HORSEMEN DEFINED: The term “horsemen” as used in Section 7-9-40 NMSA 1978 means the owners of race horses that win purse money in races held at New Mexico horse racetracks.
[3/9/72, 11/20/72, 3/20/74, 7/26/76, 6/18/79, 4/7/82, 5/4/84, 4/2/86, 11/26/90, 11/15/96; 3.2.128.7 NMAC - Rn, 3 NMAC 2.40.7 & A, 5/15/01]
HISTORY OF 3.2.128 NMAC:
Pre-NMAC History:
BOR 67-2, NM Gross Receipts and Compensating Tax Regulations, September 1967, filed 9/29/67.
BOR 69-4, Regulations in Effect and Pertaining to the New Mexico Gross Receipts and Compensating Tax Act, 12-5-69, filed 12/5/69.
BOR 72-4, Regulations in Effect and Pertaining to the New Mexico Gross Receipts and Compensating Tax Act, 3/9/72, filed 3/9/72.
BOR 74-2, Regulations in Effect and Pertaining to the New Mexico Gross Receipts and Compensating Tax Act, 12/15/73, filed 3/20/74.
BOR 76-1, Regulations in Effect and Pertaining to the New Mexico Gross Receipts and Compensating Tax Act, 7/26/76, filed 7/26/76.
R.D.79-1, Gross Receipts and Compensating Tax Act Regulations, filed 6/18/79.
R.D. Rule No. 82, Regulations Pertaining to the Gross Receipts and Compensating Tax Act, Sections 7-9-1 to 7-9-80.1 NMSA 1978, filed 4/7/82.
R.D. Rule No. 84, Regulations Pertaining to the Gross Receipts and Compensating Tax Act, Sections 7-9-1 to 7-9-80.1 NMSA 1978, filed 5/4/84.
TRD Rule No. 9-86, Regulations Pertaining to the Gross Receipts and Compensating Tax Act, Sections 7-9-1 to 7-9-80.1 NMSA 1978, filed 4/2/86.
TRD Rule GR-90, Regulations Pertaining to the Gross Receipts and Compensating Tax Act, Sections 7-9-1 to 7-9-80.1 NMSA 1978, filed 11/26/90.
History of Repealed Material: [RESERVED]
NMAC History:
3 NMAC 2.40, Exemption - Gross Receipts Tax - Purses and Jockey Remuneration at New Mexico Racetracks - Receipts from Gross Amounts Wagered, filed 11/4/96.
3.2.128 NMAC, Exemption - Gross Receipts Tax - Purses and Jockey Remuneration at New Mexico Racetracks - Receipts from Gross Amounts Wagered, filed 4/30/2001.