Deduction; gross receipts tax; sale of construction services

and construction-related services to persons engaged in the construction business. A. Receipts from selling a construction service or a construction-related service may be deducted from gross receipts if the sale is made to a person engaged in the construction business who delivers a nontaxable transaction certificate to the person performing the construction service or a construction-related service or provides alternative evidence pursuant to Section 7-9-43 NMSA 1978. B. The buyer shall have the construction services or construction-related services directly contracted for or billed to: (1) a construction project that is subject to the gross receipts tax upon its completion or upon the completion of the overall construction project of which it is a part; (2) a construction project that is subject to the gross receipts tax upon the sale in the ordinary course of business of the real property upon which it was constructed; or (3) a construction project that is located on the tribal territory of an Indian nation, tribe or pueblo. History: 1953 Comp., § 72-16A-14.7, enacted by Laws 1969, ch. 144, § 42; 2000, ch. 84, § 4; 2000, ch. 98, § 2; 2012, ch. 5, § 5; 2020, ch. 80, § 5; 2021, ch. 65, § 19.