Guam § 7406 - Additional Fees for License of Promoter; Exemption;

§ 7406. Additional Fees for License of Promoter; Exemption;

Regulations.

(a) In addition to the payment of any other fees and money due

under this Chapter, every promoter, except as provided in subsection (2),

shall pay a license fee of:

(1) four percent (4%) of the total gross receipts from admission

fees to the live contest or exhibition of unarmed combat, exclusive

of any federal tax or tax imposed by the government of Guam; and

(2) three percent (3%) of the first One Million Dollars

($1,000,000), and one percent (1%) of the next Two Million Dollars

($2,000,000), of the total gross receipts from the sale, lease or other

exploitation of broadcasting, television and motion picture rights for

that contest or exhibition, without any deductions for commissions,

brokerage fees, distribution fees, advertising, contestants’ purses or

any other expenses or charges.

(b) A corporation organized pursuant to Part 2 of Chapter 10, Title

18, Guam Code Annotated, which promotes an amateur contest or

exhibition of unarmed combat whose net proceeds are to be spent

entirely in Guam, for the purposes for which the corporation is

organized, is exempt from the fees payable under this Section. The

corporation must retain the services of a promoter licensed pursuant to

this Chapter.

(c) The Commission shall adopt regulations:

(1) requiring that the number and face value of all

complimentary tickets be reported; and

(2) governing the treatment of complimentary tickets for the

purposes of computing gross receipts from admission fees under

subsection (a)(1).