A. A bingo and raffle tax equal to one-half percent of the gross receipts of any game of chance held, operated or conducted for or by a qualified organization shall be imposed on the qualified organization.
B. No other state or local gross receipts tax shall apply to a qualified organization's receipts generated by a game of chance authorized by the New Mexico Bingo and Raffle Act.
C. The tax imposed pursuant to this section shall be submitted quarterly to the taxation and revenue department on or before April 25, July 25, October 25 and January 25.
D. The taxation and revenue department shall administer the tax imposed in this section pursuant to the Tax Administration Act [Chapter 7, Article 1 NMSA 1978].
History: Laws 2009, ch. 81, § 21.
Effective dates. — Laws 2009, ch. 81, § 31 made the act effective July 1, 2009.
Structure New Mexico Statutes
Chapter 60 - Business Licenses
Article 2F - New Mexico Bingo and Raffle
Section 60-2F-1 - Short title.
Section 60-2F-3 - Gaming control board to administer act.
Section 60-2F-4 - Definitions.
Section 60-2F-5 - Application of act.
Section 60-2F-6 - Board; powers.
Section 60-2F-7 - Organizations eligible for bingo licenses.
Section 60-2F-8 - Classifications of licenses and permits.
Section 60-2F-9 - Disclosure of background information.
Section 60-2F-10 - Application for licenses or permits.
Section 60-2F-11 - Standards for granting a license or permit.
Section 60-2F-12 - Licenses and permits; specific requirements.
Section 60-2F-13 - Fees for licenses and permits; disposition of revenue.
Section 60-2F-14 - Forfeiture of license; ineligibility to apply for license or permit.
Section 60-2F-15 - Persons permitted to conduct bingo games; premises.
Section 60-2F-15.1 - Persons permitted to conduct pull-tab games; premises.
Section 60-2F-16 - Display of license.
Section 60-2F-18 - Conduct of games of chance.
Section 60-2F-19 - Quarterly reports required; accounting requirements.
Section 60-2F-20 - Expenses; compensation.
Section 60-2F-21 - Tax imposition.
Section 60-2F-22 - Violation of act.
Section 60-2F-23 - Enforcement hearings.