New Mexico § 60-2E-38 - Calculation of net take; certain expenses not deductible
Full text of New Mexico New Mexico Statutes Annotated § 60-2E-38 — Calculation of net take; certain expenses not deductible, with citation guidance and answers to common questions.
§ 60-2E-38. Calculation of net take; certain expenses not deductible
In calculating net take from gaming machines, the actual cost to the licensee of any
personal property distributed to a patron as the result of a legitimate wager may
be deducted as a loss, except for travel expenses, food, refreshments, lodging or
services. For the purposes of this section, “as the result of a legitimate wager” means that
the patron must make a wager prior to receiving the personal property, regardless
of whether the receipt of the personal property is dependent on the outcome of the
wager.
Source: official New Mexico text · Last verified 2026-08-27
Frequently Asked Questions About New Mexico § 60-2E-38
What does New Mexico Statutes Annotated § 60-2E-38 cover?
Section 60-2E-38 ("Calculation of net take; certain expenses not deductible") is part of the New Mexico Statutes Annotated, the codified statutory law of New Mexico. 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 New Mexico § 60-2E-38?
A common citation format is "New Mexico Statutes Annotated § 60-2E-38" (New Mexico). 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 New Mexico law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the New Mexico official source linked on this page or consult a licensed New Mexico attorney.
How does New Mexico § 60-2E-38 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in New Mexico 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 New Mexico.