Chapter 7, Chapter 7

homeowners associations. Exempted from the gross receipts tax are those receipts of homeowners associations defined in Section 528(c)(1) (A thru D), (2), (3) and (4) (A, B and D) of the Internal Revenue Code, as amended, which are received as membership fees, dues or assessments …

Exempted from the gross receipts tax are the receipts from selling vehicles on which a tax is imposed by the Motor Vehicle Excise Tax Act [Chapter 7, Article 14 NMSA 1978], vehicles subject to registration under Section 66-3-16 NMSA 1978 and vehicles exempt from the motor vehicle…

Exempted from the gross receipts tax are the receipts from selling boats on which a tax is imposed by Section 66-12-6.1 NMSA 1978. History: 1978 Comp., § 7-9-22.1, enacted by Laws 1987, ch. 247, § 1.

Exempted from the compensating tax is the use of vehicles on which the tax imposed by the Motor Vehicle Excise Tax Act [Chapter 7, Article 14 NMSA 1978] has been paid, the use of vehicles subject to registration under Section 66-3-16 NMSA 1978 and the use of vehicles exempt from …

Exempted from the compensating tax is the use of boats on which the tax imposed by Section 66-12-6.1 NMSA 1978 has been paid. History: 1978 Comp., § 7-9-23.1, enacted by Laws 1987, ch. 247, § 2.

Exempted from the gross receipts tax are the receipts of insurance companies or any agent thereof from premiums and any consideration received by a property bondsman, as that person is defined in Section 59A-51-2 NMSA 1978, as security or surety for a bail bond in connection with…

Exempted from the gross receipts tax are the receipts received as interest on money loaned or deposited, receipts received as dividends or interest from stocks, bonds or securities or receipts from the sale of stocks, bonds or securities. History: 1953 Comp., § 72-16A-12.13, enac…

Exempted from the gross receipts and compensating tax are the receipts from selling and the use of gasoline, special fuel or alternative fuel on which the tax imposed by Section 7-13-3, 7-16A-3 or 7-16B-4 NMSA 1978 has been paid and not refunded. History: 1953 Comp., § 72-16A-12.…

for space vehicles. A. Exempted from the gross receipts tax are the receipts from selling fuel, oxidizer or a substance that combines fuel and oxidizer to propel space vehicles or to operate space vehicle launchers. B. Exempted from the compensating tax is the use of fuel, oxidiz…

Exempted from the compensating tax is the use by an individual of personal or household effects brought into the state in connection with the establishment by him of an initial residence in this state and the use of property brought into the state by a nonresident for his own non…

or services. Exempted from the gross receipts tax are the receipts from the isolated or occasional sale of or leasing of property or a service by a person who is neither regularly engaged nor holding himself out as engaged in the business of selling or leasing the same or similar…

exceptions. A. Exempted from the gross receipts tax are the receipts of organizations that demonstrate to the department that they have been granted exemption from the federal income tax by the United States commissioner of internal revenue as organizations described in Section 5…

As used in the Gross Receipts and Compensating Tax Act: A. "buying" or "selling" means a transfer of property for consideration or the performance of service for consideration; B. "department" means the taxation and revenue department, the secretary of taxation and revenue or an …

A. As used in the Gross Receipts and Compensating Tax Act, "governmental gross receipts" means receipts of the state or an agency, institution, instrumentality or political subdivision from: (1) the sale of tangible personal property other than water from facilities open to the g…

As used in the Gross Receipts and Compensating Tax Act, "engaging in business" means carrying on or causing to be carried on any activity with the purpose of direct or indirect benefit. For a person who lacks physical presence in this state, including a marketplace provider, "eng…

construction-related services. As used in the Gross Receipts and Compensating Tax Act: A. "construction" means: (1) the building, altering, repairing or demolishing in the ordinary course of business any: (a) road, highway, bridge, parking area or related project; (b) building, s…

A. As used in the Gross Receipts and Compensating Tax Act: (1) "gross receipts" means the total amount of money or the value of other consideration received from selling property in New Mexico, from leasing or licensing property employed in New Mexico, from granting a right to us…

and space vehicles. A. Exempted from the compensating tax is the use of railroad locomotives, trailers, containers, tenders or cars procured or bought for use in railroad transportation. B. Exempted from the compensating tax is the use of commercial aircraft bought or leased prim…

activities of an armed forces instrumentality. Exempted from the gross receipts and compensating tax are the receipts from selling tangible personal property and the use of property by any instrumentality of the armed forces of the United States engaged in resale activities. Hist…

interests. Exempted from the gross receipts tax are the receipts from the sale of or leasing of oil, natural gas or mineral interests. History: 1953 Comp., § 72-16A-12.20, enacted by Laws 1969, ch. 144, § 25.

Gas Emergency School Tax Act. A. Exempted from the gross receipts tax are receipts from the sale of products the severance of which is subject to the tax imposed by the Oil and Gas Emergency School Tax Act [Chapter 7, Article 31 NMSA 1978] except that receipts from the sale of pr…

to Natural Gas Processors Tax Act. A. Exempted from the gross receipts tax are receipts from the sale or processing of products the processing of which is subject to the privilege tax imposed by the Natural Gas Processors Tax Act [Chapter 7, Article 33 NMSA 1978] except that rece…

Resources Excise Tax Act. Exempted from the gross receipts tax are receipts from the sale or processing of natural resources the severance or processing of which are subject to the taxes imposed by the Resources Excise Tax Act [Chapter 7, Article 25 NMSA 1978] except as otherwise…

pipeline transportation of oil and gas products. Exempted from the gross receipts tax are receipts from the sale of oil, natural gas, liquid hydrocarbon or any combination thereof consumed as fuel in the pipeline transportation of such products. History: 1953 Comp., § 72-16A-12.2…

pipeline transportation of oil and gas products. Exempted from the compensating tax is the use of oil, natural gas, liquid hydrocarbon or any combination thereof as fuel in the pipeline transportation of such products. History: 1953 Comp., § 72-16A-12.25, enacted by Laws 1969, ch…

production, conversion and transmission of electricity. Exempted from the compensating tax is electricity used in the production and transmission of electricity, including transmission using voltage source conversion technology. History: 1953 Comp., § 72-16A-12.26, enacted by Law…

telecommunications services. Exempted from the gross receipts tax are receipts from the sale or provision of interstate telecommunications services subject to the Interstate Telecommunications Gross Receipts Tax Act [Chapter 7, Article 9C NMSA 1978]. History: Laws 1992, ch. 50, §…

telecommunications services. Exempted from the gross receipts tax are receipts of a home service provider from providing mobile telecommunications services to persons whose place of primary use is outside New Mexico, regardless of where the mobile telecommunications services orig…

organizations. A. Exempted from the gross receipts tax are the receipts from dues and registration fees of nonprofit social, fraternal, political, trade, labor or professional organizations and business leagues. B. For the purposes of this section: (1) "dues" means amounts that a…

tax". A. For the privilege of engaging in business, an excise tax equal to the following percentages of gross receipts is imposed on any person engaging in business in New Mexico: (1) prior to July 1, 2023, five percent; and (2) beginning July 1, 2023, four and seven-eighths perc…

gross receipts tax". For the privilege of engaging in certain activities by governments, there is imposed on every agency, institution, instrumentality or political subdivision of the state, except any school district and an entity licensed by the department of health, other than…

remuneration at New Mexico racetracks; receipts from gross amounts wagered. A. Exempted from the gross receipts tax are the receipts of horsemen, jockeys and trainers from race purses at New Mexico horse racetracks subject to the jurisdiction of the state racing commission. B. Ex…

Exempted from the gross receipts tax are the receipts of a minister of a religious organization, which organization has been granted an exemption from federal income tax by the United States commissioner of internal revenue as an organization described in Section 501(c)(3) of the…

receipts tax; athletic facility surcharge. Exempted from the gross receipts tax and from the governmental gross receipts tax are the receipts of a university from an athletic facility surcharge imposed pursuant to the University Athletic Facility Funding Act [21-30-1 to 21-30-10 …

History: Laws 2007, ch. 172, § 13.

vendors. A. Exempt from payment of the gross receipts tax are receipts from the sale of goods by a disabled street vendor. B. As used in this section: (1) "disabled" means to be blind or permanently disabled with medical improvement not expected pursuant to 42 USCA 421 for purpos…

association-sanctioned school events. Exempted from the gross receipts tax are the receipts from refereeing, umpiring, scoring or other officiating at school events sanctioned by the New Mexico activities association. History: Laws 2009, ch. 62, § 1.

receipts taxes. A. Exempted from any local option gross receipts tax, but not the state gross receipts tax, are receipts of a nonprofit hospital licensed by the department of health. B. As used in this section, "nonprofit hospital" means a hospital that has been granted exemption…

from certain federal payments. Exempted from the gross receipts tax are receipts of health care providers, other than hospitals licensed by the department of health, from payments by: A. the United States department of health and human services from the federal public health and …

required to entitle persons to deductions. A. Except as provided in Subsection B of this section, a person may establish entitlement to a deduction from gross receipts allowed pursuant to the Gross Receipts and Compensating Tax Act by obtaining in good faith a properly executed n…

wholesalers. Notwithstanding the provisions of Section 7-9-43 NMSA 1978, a liquor wholesaler licensed as a wholesaler by the superintendent of regulation and licensing pursuant to the Liquor Control Act [60-3A-1 NMSA 1978 et seq.] is not required to obtain a nontaxable transactio…

A. Receipts may only be deducted once from gross receipts or governmental gross receipts when computing the gross receipts tax or governmental gross receipts tax due. B. The same receipts shall not be both exempt from the gross receipts tax and deducted from gross receipts. C. Th…

sales to manufacturers and manufacturing service providers. A. Receipts from selling tangible personal property may be deducted from gross receipts or from governmental gross receipts if the sale is made to a person engaged in the business of manufacturing who delivers a nontaxab…

sales of services to manufacturers. A. Receipts from selling professional services may be deducted from gross receipts or from governmental gross receipts if the sale is made to a person engaged in the business of manufacturing who delivers a nontaxable transaction certificate to…

tax; sale of tangible personal property or licenses for resale. Receipts from selling tangible personal property or licenses may be deducted from gross receipts or from governmental gross receipts if the sale is made to a person who delivers a nontaxable transaction certificate t…

sale of a service for resale. Receipts from selling a service for resale may be deducted from gross receipts or from governmental gross receipts if the sale is made to a person who delivers a nontaxable transaction certificate to the seller or provides alternative evidence pursua…

property and licenses for leasing. A. Except as otherwise provided by Subsection B of this section, receipts from selling tangible personal property and licenses may be deducted from gross receipts if the sale is made to a person who delivers a nontaxable transaction certificate …

A. To prevent evasion of the gross receipts tax and to aid in its administration, it is presumed that all receipts of a person engaging in business are subject to the gross receipts tax. A person engaged solely in transactions specifically exempt under the provisions of the Gross…

A. Except as provided otherwise in Subsection B of this section, receipts from leasing tangible personal property or licenses may be deducted from gross receipts if the lease is made to a lessee who delivers a nontaxable transaction certificate to the lessor or provides alternati…

to persons engaged in the construction business. A. Receipts from selling construction material 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 seller or provides alt…