California Business and Professions Code 19705 – Associations licensed pursuant to this chapter shall deduct the …
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Associations licensed pursuant to this chapter shall deduct the applicable license fees, commissions, and purses in the same percentages as provided for in Article 9.5 (commencing with Section 19610) of Chapter 4. Associations may also deduct an additional amount of up to 3 percent on multiple wagering pools in the same manner as provided for by Section 19614.2.
(Amended by Stats. 1994, Ch. 317, Sec. 2. Effective August 22, 1994.)
Terms Used In California Business and Professions Code 19705
- license: means license, certificate, registration, or other means to engage in a business or profession regulated by this code or referred to in Section 1000 or 3600. See California Business and Professions Code 23.7