New Mexico Administrative Code
Title 15 - GAMBLING AND LIQUOR CONTROL
Chapter 1 - GAMES AND GAMING GENERAL PROVISIONS
Part 8 - ACCOUNTING REQUIREMENTS UNDER THE GAMING CONTROL ACT
Section 15.1.8.10 - REPORTING AND PAYMENT PROCEDURES
Current through Register Vol. 35, No. 18, September 24, 2024
A. Fees required under the act and all reports relating to taxes and fees shall be received by the board not later than the due date specified by law. In addition, reports relating to taxes shall be received by taxation and revenue not later than the due date specified by law. Fees and reports shall be deemed to be timely filed if the licensee shows, to the board's satisfaction, that the licensee deposited the fees and reports in a United States post office or mailbox, with first-class postage prepaid, properly addressed to the board, and in the case of tax reports, to taxation and revenue, within the time allowed for payment of the fees and filing of the reports.
B. All gaming operator licensees shall remit to the state the gaming tax as provided for by the act. Tax payments shall be calculated based on net take from the gaming operator licensee's gaming machines, as verified by the machines' soft meters.
C. A gaming operator licensee shall establish and maintain a single gaming tax transfer account exclusively for gaming tax payments to the taxation and revenue. In maintaining such bank account:
D. All gaming operator licensees shall be liable for all portions of gaming revenue from such times as the funds are received into the gaming machine until the funds are deposited into the designated bank and account of taxation and revenue.