New Mexico Gaming Board Regulations
- M. S. A. 1978, § 60-2F-18 § 60-2F-18. Conduct of games of chance
Effective: July 1, 2009 Currentness
Any bingo or raffle held by a qualified organization as defined in §60-2F-4(Y) NMSA1978, of the Bingo and Raffle Act which holds a bingo or raffle no more than once in any three consecutive calendar months and not exceeding four occasions in one calendar year. §60-2F-26(B) NMSA 1978.
B. For a raffle:
(1) all raffle tickets sold shall be represented in the container from which the winner is drawn;
(2) the drawing shall be open to the public;
(3) each raffle ticket shall display all information as directed by the board; and
(4) when any merchandise prize is awarded in a raffle, its value shall be its current retail price. No merchandise prize shall be redeemable or convertible into cash.
M. S. A. 1978, § 60-2F-26 § 60-2F-26. Exemptions Effective: July 1, 2009 Currentness
A. Except as provided in Subsection B of this section, nothing in the New Mexico Bingo and Raffle Act shall be construed to apply to: (1) a drawing or a prize at a fair or fiesta held in New Mexico under the sponsorship or authority of the state or any of its political subdivisions, or for the benefit of a religious organization situated in this state or for charitable purposes when all the proceeds of the sale or drawing shall be expended within New Mexico for the benefit of that political subdivision, religious organization or charitable purpose; or (2) a bingo or a raffle held by a qualified organization that holds no more than one bingo occasion or one raffle in any three consecutive calendar months and not exceeding four occasions in one calendar year. B. Notwithstanding the provisions of Subsection A of this section, no raffle with an individual prize exceeding seventy-five thousand dollars ($75,000) shall be held without a ten-day prior notification to the board of the conduct of the event and a subsequent notification to the board of the names, addresses and phone numbers of all prize winners. C. Nothing in the New Mexico Bingo and Raffle Act shall be construed to apply to a lottery established and operated pursuant to the New Mexico Lottery Act or gaming that is licensed and operated pursuant to the Gaming Control Act. Credits Added by L. 2009, Ch. 81, § 26, eff. July 1, 2009. NMSA 1978, § 60-2F-26, NM ST § 60-2F-26 Current through the end of the First Regular Session of the 54th Legislature (2019).
New Mexico Tax Imposition
- M. S. A. 1978, § 60-2F-21 § 60-2F-21. Tax imposition Effective: July 1, 2009 Currentness 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. Credits Added by L. 2009, Ch. 81, § 21, eff. July 1, 2009. NMSA 1978, § 60-2F-21, NM ST § 60-2F-21 Current through the end of the First Regular Session of the 54th Legislature (2019).
