New Mexico Administrative Code

This part applies to each person engaging in business in New Mexico.

Section 9-11-6.2 NMSA 1978.

Permanent.

3/15/96, unless a later date is cited at the end of a section, in which case the later date is the effective date.

The objective of this part is to interpret, exemplify, implement and enforce the provisions of the Gross Receipts and Compensating Tax Act.

[Reserved.]

A. The deduction provided by this section contains several restrictions, among them are these: (1) receipts must be from activities performed on a nonprofit or cost basis; (2) excluded are receipts from sharing equipment or facilities other than office equipment or offices; and (…

Taxation and Revenue Department, Joseph M. Montoya Building, 1100 South St. Francis Drive, P.O. Box 630, Santa Fe NM 87504-0630

This part applies to each person engaging in business in New Mexico.

Section 9-11-6.2 NMSA 1978.

Permanent.

11/15/96, unless a later date is cited at the end of a section, in which case the later date is the effective date.

The objective of this part is to interpret, exemplify, implement and enforce the provisions of the Gross Receipts and Compensating Tax Act.

[Reserved.]

A. If a federal agency must grant authority for a person to engage lawfully in interstate transportation of persons or property, any person claiming a deduction under Section 7-9-70 NMSA 1978 must have rented or leased the vehicle to a person who holds federal authority for the t…

Taxation and Revenue Department, Joseph M. Montoya Building, 1100 South St. Francis Drive, P.O. Box 630, Santa Fe NM 87504-0630

This part applies to each person engaging in business in New Mexico.

Section 9-11-6.2 NMSA 1978.

Permanent.

11/15/96, unless a later date is cited at the end of a section, in which case the later date is the effective date.

The objective of this part is to interpret, exemplify, implement and enforce the provisions of the Gross Receipts and Compensating Tax Act.

[Reserved.]

A. A trade-in of tangible personal property, as used in Section 7-9-71 NMSA 1978, must be of the same type as the tangible personal property being sold. B. Example 1: X, an appliance company, sells a refrigerator to Y and takes a radio as a trade-in. X cannot deduct that portion …

That portion of the receipts of a music dealer which represents a trade-in of a musical instrument may be deducted from gross receipts only if the trade-in was accepted on the sale of another musical instrument of the same type as the instrument accepted for trade-in. Similarly, …

Taxation and Revenue Department, Joseph M. Montoya Building, 1100 South St. Francis Drive, P.O. Box 630, Santa Fe NM 87504-0630

This part applies to each person engaging in business in New Mexico.

Section 9-11-6.2 NMSA 1978.

Permanent.

11/15/96, unless a later date is cited at the end of a section, in which case the later date is the effective date.

The objective of this part is to interpret, exemplify, implement and enforce the provisions of the Gross Receipts and Compensating Tax Act.

[Reserved.]

The receipts from selling contact lenses, eye glasses, eye glass frames and lens glass to ophthalmologists and optometrists may be deducted from gross receipts if the buyer delivers a nontaxable transaction certificate to the seller. Contact lenses, eye glasses, eye glass frames …

The receipts from selling items of tangible personal property used in making dentures, as well as receipts from selling supplies, including gold, silver, cement used in fillings, amalgam, anesthetics, orthodontia platinum wire, facings, backings and similar items to dentists for …

Taxation and Revenue Department, Joseph M. Montoya Building, 1100 South St. Francis Drive, P.O. Box 630, Santa Fe NM 87504-0630

Tangible personal property that may be sold or dispensed for human consumption or administered to a human without a prescription of a person, such as a medical doctor, licensed to prescribe the property's use or to administer it are not "prescription drugs". Items that do not req…

This part applies to each person engaging in business in New Mexico.

Section 9-11-6.2 NMSA 1978.

Permanent.

10/29/99, unless a later date is cited at the end of a section, in which case the later date is the effective date.

The objective of this part is to interpret, exemplify, implement and enforce the provisions of the Gross Receipts and Compensating Tax Act.

[Reserved.]

A. "INJECTIBLES": Injectibles are a combination of tangible personal property sold as a unit for a single price in which a prescription drug is pre-loaded by the manufacturer into a device, such as a syringe, to administer the prescription drug. Receipts from selling the device, …

Vaccines required to be administered by a person licensed by the state to do so are prescription drugs.

Taxation and Revenue Department, Joseph M. Montoya Building, 1100 South St. Francis Drive, P.O. Box 630, Santa Fe NM 87504-0630

Amounts paid to, or credited against the account of, an automotive dealer by a manufacturer to compensate the dealer for inspection and other "get ready" operations performed on new vehicles manufactured by that manufacturer may be deducted from gross receipts if the dealer has i…

Amounts paid to a New Mexico automotive dealer by another dealer for inspection and other "get ready" operations performed on new vehicles being sold by the other dealer may not be deducted under a Type 13 nontaxable transaction certificate issued by the other dealer since the Ne…

A. Receipts from performing the service of installing computer programming on a computer chip or other device for a manufacturer may be deducted under Section 7-9-75 NMSA 1978 when the chips are supplied by the manufacturer and the programmed chip or device is designed to control…

This part applies to each person engaging in business in New Mexico.

Section 9-11-6.2 NMSA 1978.

Permanent.