23-4-303. Licensee’s right to withhold deposits. Subject to 15-10-420, if a government or governmental agency imposes a levy on a licensee by a special tax on the money deposited under the parimutuel system or upon or against a licensee’s receipts, the licensee may withhold in addition to the percent and breakage provided for in 23-4-302 the amount of the tax levied.

Ask a business law question, get an answer ASAP!
Thousands of highly rated, verified business lawyers.
Click here to chat with a lawyer about your rights.