Nevada § 464.040 - Limitations on amount and division of commissions; payment and disposition of taxes
Full text of Nevada Nevada Revised Statutes § 464.040 — Limitations on amount and division of commissions; payment and disposition of taxes, with citation guidance and answers to common questions.
§ 464.040. Limitations on amount and division of commissions; payment and disposition of taxes
1. The total commission deducted from pari-mutuel wagering other than off-track pari-mutuel
wagering by any licensee licensed pursuant to the provisions of this chapter must
not exceed 18 percent of the gross amount of money handled in each pari-mutuel pool
operated by the licensee during the period of the license. 2. The total commission deducted from off-track pari-mutuel wagering must be determined
by the Nevada Gaming Commission and may be divided between the persons licensed or
approved to participate in the conduct of the race or event or the pari-mutuel system
of wagering thereon. Such licensure or approval must be obtained pursuant to this chapter or chapter 463 of NRS and pursuant to regulations which may be adopted by the Nevada Gaming Commission. 3. Except as otherwise provided in NRS 464.045 for off-track pari-mutuel wagering, each licensee shall pay to the Nevada Gaming
Commission quarterly on or before the last day of the first month of the following
quarter of operation for the use of the State of Nevada a tax at the rate of 3 percent
on the total amount of money wagered on any race, sporting event or other event. 4. The licensee may deduct odd cents less than 10 cents per dollar in paying bets. 5. Except as otherwise provided in NRS 464.045 for off-track pari-mutuel wagering, the amount paid to the Nevada Gaming Commission
must be, after deducting costs of administration which must not exceed 5 percent of
the amount collected, paid over by the Nevada Gaming Commission to the State Treasurer
for deposit in the State General Fund.
Source: official Nevada text · Last verified 2026-08-27
Frequently Asked Questions About Nevada § 464.040
What does Nevada Revised Statutes § 464.040 cover?
Section 464.040 ("Limitations on amount and division of commissions; payment and disposition of taxes") is part of the Nevada Revised Statutes, the codified statutory law of Nevada. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Nevada § 464.040?
A common citation format is "Nevada Revised Statutes § 464.040" (Nevada). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Nevada law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Nevada official source linked on this page or consult a licensed Nevada attorney.
How does Nevada § 464.040 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Nevada can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Nevada.