Section 455. Receipts exempted from tax

1. The gross receipts from any
  sparring, boxing or wrestling match or exhibition  conducted  under  the
  supervision or the control of the New York state national guard or naval
  militia  where  all of the contestants are members of the active militia
  shall not be subject to the tax imposed by this article.
    2. The gross receipts from any such  match  or  exhibition  where  the
  contestants  are  all amateurs, sponsored by or under the supervision of
  any university,  college,  school  or  other  institution  of  learning,
  recognized  by the regents of the state of New York shall not be subject
  to the tax imposed by this article.
    3. The gross receipts from any such matches or exhibitions  where  the
  contestants  are  all  amateurs sponsored by or under the supervision of
  the U. S. Amateur Boxing Federation  or  its  local  affiliates  or  the
  American  Olympic Association shall not be subject to the tax imposed by
  this article.
    4. For the purpose of this section, an amateur is  deemed  to  mean  a
  person  who  engages  in  boxing,  sparring  or  wrestling  matches  and
  exhibitions where no cash prizes are awarded to participants, and  where
  the prize competed for shall not in value exceed thirty-five dollars or,
  in  boxing,  a  maximum  amount  established  by the U.S. Amateur Boxing
  Federation.