New Mexico Administrative Code

Receipts from the sale of automotive service contracts and from charges for transfer services (document fees) are not covered by the exemption provided by Section 7-9-22 NMSA 1978 and shall not be included in computing the tax paid under Section 7-14-4 NMSA 1978 on the sale of th…

Receipts from selling all-terrain vehicles (ATVs) are receipts from selling vehicles on which a tax is imposed by the Motor Vehicle Excise Tax. Therefore receipts from selling ATVs are exempt from gross receipts.

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

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. The receipts from the sale of a vehicle of a type excepted from registration under Section 66-3-1 NMSA 1978 are not subject to any taxes imposed upon the issuance of a certificate of title under the Motor Vehicle Excise Tax Act and are therefore subject to gross receipts tax. …

A. Receipts from the sale of motor vehicle bodies, accessories, equipment and the like, whether sold separately or mounted on the vehicle are not subject to this exemption except where their value is included in computing the tax paid under the Motor Vehicle Excise Tax Act on the…

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

A. Restaurant owners are liable for compensating tax on the value of food served to employees where no amount includable in the owner's gross receipts is received from the employees for the food served to them, if such food was purchased by the owner subject to the deduction from…

This part applies to each person using property 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. Transportation costs that are paid by the seller to the carrier are an element of the sales price of the property. B. Transportation costs that are paid to the carrier by the buyer are not an element of the sales price of the property. C. If the buyer transports the property i…

The compensating tax on drug samples manufactured outside New Mexico and distributed to New Mexico physicians free of charge is assessed on the value of the finished product in the hands of the manufacturer. This value is the full price which would have been charged by the manufa…

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 and selling boats.

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. Receipts from the sale of boat accessories, optional equipment and the like, whether sold separately or mounted on the boat, are not subject to this exemption except where such equipment is included in and is part of the sale of a boat and the value is included in computing th…

Because the sale of commercial paper in itself is not subject to the gross receipts tax and because receipts from underlying transactions are exempt under Section 7-9-22.1 NMSA 1978, receipts from the sale of financing agreements to a bank or a financial corporation with respect …

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 or using vehicles 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 tax imposed by the Motor Vehicle Excise Tax Act will be considered paid if the credit received for excise taxes paid in another state equals the amount of tax due in New Mexico.

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

A. The receipts of an insurance company or any agent thereof from the operation of a business or trade other than the insurance business in New Mexico are subject to the gross receipts tax. B. Such receipts are not exempted from the gross receipts tax pursuant to Section 7-9-24 N…

This part applies to each insurance company, insurance agent or property bondsman 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. Receipts of insurance companies or any agent thereof from premiums for surety bonds or insurance policies are exempt under Section 7-9-24 NMSA 1978. B. For purposes of Section 7-9-24 NMSA 1978, the term "insurance companies" includes: (1) health maintenance organizations havin…

Receipts of insurance adjusters or adjusting firms are not receipts from premiums and are not exempt under Section 7-9-24 NMSA 1978.

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 and each person receiving interest or dividends.

Section 9-11-6.2 NMSA 1978.