New Mexico Administrative Code
Title 3 - TAXATION
Chapter 2 - GROSS RECEIPTS TAXES
Part 20 - GOVERNMENTAL GROSS RECEIPTS
Section 3.2.20.31 - RECEIPTS FROM RECREATIONAL, ATHLETIC AND ENTERTAINMENT SERVICES
Current through Register Vol. 35, No. 18, September 24, 2024
A. Receipts of an agency, institution, instrumentality or political subdivision of the state of New Mexico from participating in an athletic event open to the general public which is conducted by another agency, institution, instrumentality or political subdivision of the state of New Mexico are receipts from performing an athletic service and are governmental gross receipts.
B. Example 1: The basketball team of University X, an institution of the state of New Mexico, plays the basketball team of University Y, another institution of the state of New Mexico. X is the host and collects $20,000 in admissions to the contest. X pays Y $8,000 for its team's participation. X has $20,000 in governmental gross receipts; Y has $8,000 in governmental gross receipts.
C. Repealed
D. Repealed
E. Receipts of a New Mexico agency, institution, instrumentality or political subdivision from performance of or admissions to a recreational, athletic or entertainment service or event are governmental gross receipts regardless of where the service or event takes place.
F. Example: University E is an institution of the state of New Mexico. University E's team is invited to play in a post-season tournament in another state. E's receipts from its team's participation in the tournament are governmental gross receipts.
G. This section is retroactively applicable to transactions occurring on or after July 1, 1991.
