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Section 60-2E-38 - Calculation of net take; certain expenses not deductible.

NM Stat § 60-2E-38 (2019) (N/A)
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In calculating net take from gaming machines, the actual cost to the licensee of any personal property distributed to a patron as the result of a legitimate wager may be deducted as a loss, except for travel expenses, food, refreshments, lodging or services. For the purposes of this section, "as the result of a legitimate wager" means that the patron must make a wager prior to receiving the personal property, regardless of whether the receipt of the personal property is dependent on the outcome of the wager.

History: Laws 1997, ch. 190, § 40.

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Section 60-2E-39 - Limitations on taxes and license fees.