Chapter 7, Chapter 7

and labor used for the development of affordable housing multifamily residential housing projects. (Effective July 1, 2027.) A. Prior to July 1, 2030, receipts from selling construction materials and labor may be deducted from gross receipts if: (1) the construction materials and…

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 delive…

equipment to persons engaged in the construction business. A. Receipts from leasing construction equipment may be deducted from gross receipts if the construction equipment is leased to a person engaged in the construction business who delivers a nontaxable transaction certificat…

and lease of manufactured homes. A. Receipts from the sale or lease of real property and from the lease of a manufactured home as provided in Subsection B of this section, other than receipts from the sale or lease of oil, natural gas or mineral interests exempted by Section 7-9-…

tax; sales to governmental agencies. A. Receipts from selling tangible personal property, or from selling licenses to use digital goods for the purpose of loaning those digital goods to the public, to the United States or to New Mexico or a governmental unit, subdivision, agency,…

to certain organizations. A. Receipts from performing or selling an aerospace service for resale may be deducted from gross receipts if the sale is made to a buyer who delivers a nontaxable transaction certificate or provides alternative evidence pursuant to Section 7-9-43 NMSA 1…

operations; launching, operating and recovering space vehicles or payloads; payload services; operationally responsive space program services. A. Receipts from launching, operating or recovering space vehicles or payloads in New Mexico may be deducted from gross receipts. B. Rece…

equipment; energy storage equipment; sales to governments. A. Prior to July 1, 2034, receipts from selling wind generation equipment or solar generation equipment to a government for the purpose of installing a wind or solar electric generation facility may be deducted from gross…

A. The value of space-related test articles used in New Mexico exclusively for research or testing, placing on public display after research or testing or storage for future research, testing or public display may be deducted in computing compensating tax due. This subsection doe…

A. The value of test articles upon which research or testing is conducted in New Mexico pursuant to a contract with the United States department of defense may be deducted in computing the compensating tax due. B. As used in this section, "test article" means a material or device…

tax; transaction in interstate commerce. A. Receipts from transactions in interstate commerce may be deducted from gross receipts to the extent that the imposition of the gross receipts tax would be unlawful under the United States constitution. B. Receipts from transactions in i…

services in interstate commerce. A. Receipts from transporting persons or property from one point to another in this state may be deducted from gross receipts when such persons or property, including any special or extra service reasonably necessary in connection therewith, is be…

On and after July 1, 1998, receipts from providing leased telephone lines, telecommunications services, internet services, internet access services or computer programming that will be used by other persons in providing internet access and related services to the final user may b…

sites. Receipts from hosting world wide web sites may be deducted from gross receipts. For purposes of this section, "hosting" means storing information on computers attached to the internet. History: Laws 1998, ch. 92, § 2.

border zone. A. The receipts of a trade-support company may be deducted from gross receipts if: (1) the trade-support company first locates in New Mexico within twenty miles of a port of entry on New Mexico's border with Mexico on or after January 1, 2016 but before January 1, 20…

out-of-state buyer. A. Receipts from performing a service may be deducted from gross receipts if the sale of the service is made to an out-of-state buyer who delivers to the seller either an appropriate nontaxable transaction certificate or other evidence acceptable to the secret…

development services. A. To stimulate new business development, the receipts of an eligible software development company from the sale of software development services that are performed in a qualified area may be deducted from gross receipts. B. As used in this section: (1) "eli…

A. Receipts from selling feed for livestock, including the baling wire or twine used to contain the feed, fish raised for human consumption, poultry or animals raised for their hides or pelts and from selling seeds, roots, bulbs, plants, soil conditioners, fertilizers, insecticid…

for agricultural purposes. A. Prior to July 1, 2029, a taxpayer who sells special fuel dyed in accordance with federal regulations may claim a tax credit against gross receipts taxes due in an amount equal to the amount of any gross receipts tax due on the receipt for sale; provi…

harvesting, growing, cultivating and processing agricultural products; testing or transporting milk. A. Receipts from warehousing grain or other agricultural products may be deducted from gross receipts. B. Receipts from threshing, cleaning, growing, cultivating or harvesting agr…

A. Taxpayers subject to the Gross Receipts and Compensating Tax Act, when billing a customer, shall separately state the amount of tax associated with the transaction or provide a statement affirmatively indicating that the gross receipts tax is included in the amount billed. B. …

tax; sales to certain organizations. A. Except as provided otherwise in Subsection B of this section, receipts from selling tangible personal property to 501(c)(3) organizations may be deducted from gross receipts or from governmental gross receipts if the sale is made to an orga…

Receipts from charges made in connection with the origination, making or assumption of a loan or from charges made for handling loan payments may be deducted from gross receipts. History: 1978 Comp., § 7-9-61.1, enacted by Laws 1981, ch. 37, § 52.

unions. Receipts from selling tangible personal property to credit unions chartered under the provisions of the Credit Union Act [Chapter 58, Article 11 NMSA 1978] are deductible to the same extent that receipts from the sale of tangible personal property to federal credit unions…

aircraft manufacturers; vehicles that are not required to be registered; aircraft parts and maintenance services; reporting requirements. A. Except for receipts deductible under Subsection B of this section, fifty percent of the receipts from selling agricultural implements, farm…

reporting requirements. A. Receipts from the sale of or from maintaining, refurbishing, remodeling or otherwise modifying a commercial or military carrier over ten thousand pounds gross landing weight may be deducted from gross receipts. B. A taxpayer allowed a deduction pursuant…

Receipts from publishing newspapers or magazines, except from selling advertising space, may be deducted from gross receipts. Receipts from selling magazines at retail may not be deducted from gross receipts. History: 1953 Comp., § 72-16A-14.18, enacted by Laws 1969, ch. 144, § 5…

Receipts from selling newspapers, except from selling advertising space, may be deducted from gross receipts. History: 1953 Comp., § 72-16A-14.19, enacted by Laws 1969, ch. 144, § 54.

Receipts from selling chemicals or reagents to any mining, milling or oil company for use in processing ores or oil in a mill, smelter or refinery or in acidizing oil wells, and receipts from selling chemicals or reagents in lots in excess of eighteen tons to any hard-rock mining…

A. Receipts derived from commissions on sales of tangible personal property which are not subject to the gross receipts tax may be deducted from gross receipts. B. Receipts of the owner of a dealer store derived from commissions received for performing the service of selling from…

transactions. A. Receipts from real estate commissions on that portion of the transaction subject to gross receipts tax pursuant to Subsection A of Section 7-9-53 NMSA 1978 may be deducted from gross receipts if the person claiming the deduction submits to the department evidence…

tax; refunds; uncollectible debts. A. Refunds and allowances made to buyers or amounts written off the books as an uncollectible debt by a person reporting gross receipts tax on an accrual basis may be deducted from gross receipts. If debts reported uncollectible are subsequently…

Receipts of a dealer from furnishing goods or services to the purchaser of tangible personal property to fulfill a warranty obligation of the manufacturer of the property may be deducted from gross receipts. History: 1953 Comp., § 72-16A-14.25, enacted by Laws 1969, ch. 144, § 60…

accounting services. A. Receipts of a business entity for administrative, managerial, accounting and customer services performed by it for an affiliate upon a nonprofit or cost basis and receipts of a business entity from an affiliate for the joint use or sharing of office machin…

tax". A. For the privilege of making taxable use of tangible personal property in New Mexico, there is imposed on the person using the property an excise tax equal to five percent prior to July 1, 2023 and four and seven-eighths percent beginning July 1, 2023, except as provided …

respect to certain tax liabilities. The department shall take no action to enforce collection of gross receipts tax for a tax period prior to July 1, 2019 on persons engaging in business if that person: A. lacked physical presence in the state; and B. did not report taxable gross…

providers. A. The secretary is authorized to provide information, upon which taxpayers may rely, as to the taxability of gross receipts from particular transactions, including taxability matrices, and is further authorized to establish standards for the certification of certified…

used in interstate commerce. Receipts from the rental or leasing of vehicles used in the transportation of passengers or property for hire in interstate commerce under the regulations or authorization of any agency of the United States may be deducted. History: 1953 Comp., § 72-1…

That portion of the receipts of a seller that is represented by a trade-in of tangible personal property of the same type being sold, except for the receipts represented by a trade-in of a manufactured home, may be deducted from gross receipts. History: 1953 Comp., § 72-16A-14.28…

sale of prosthetic devices. Receipts from selling prosthetic devices may be deducted from gross receipts or from governmental gross receipts if the sale is made to a person who is licensed to practice medicine, osteopathic medicine, dentistry, podiatry, optometry, chiropractic or…

hospitals. A. Sixty percent of the receipts of hospitals licensed by the department of health may be deducted from gross receipts; provided that this deduction may be applied only to the taxable gross receipts remaining after all other appropriate deductions have been taken. B. S…

receipts tax; prescription drugs; oxygen; cannabis. A. Receipts from the sale of prescription drugs and oxygen and oxygen services provided by a licensed medicare durable medical equipment provider and cannabis products that are sold in accordance with the Lynn and Erin Compassio…

receipts tax; durable medical equipment; medical supplies. A. Prior to July 1, 2030, receipts from the sale or rental of durable medical equipment and medical supplies may be deducted from gross receipts and governmental gross receipts. B. The purpose of the deduction provided in…

modifications for medicaid recipients. A. Prior to July 1, 2034, receipts of an eligible provider for environmental modifications reimbursed by the medical assistance division may be deducted from gross receipts. B. As used in this section: (1) "eligible provider" means a provide…

performed directly on product manufactured. Receipts from selling the service of combining or processing components or materials may be deducted from gross receipts if the sale is made to a person engaged in the business of manufacturing who delivers a nontaxable transaction cert…

paid by certain entities. Receipts of travel agents derived from commissions paid by maritime transportation companies and interstate airlines, railroads and passenger buses for booking, referral, reservation or ticket services may be deducted from gross receipts. History: 1953 C…

homes. Receipts from the resale of a manufactured home may be deducted from gross receipts if the sale is made of a manufactured home that was subject to the gross receipts, compensating or motor vehicle excise tax upon its initial sale or use in New Mexico. The seller shall reta…

Receipts from the leasing or licensing of theatrical and television films and tapes to a person engaged in the business of providing public or commercial entertainment from which gross receipts are derived may be deducted from gross receipts. History: 1978 Comp., § 7-9-76.2, enac…

A. Fifty percent of the value of agricultural implements, farm tractors, aircraft not exempted under Section 7-9-30 NMSA 1978 or vehicles that are not required to be registered under the Motor Vehicle Code [Chapter 66, Articles 1 through 8 NMSA 1978] may be deducted from the valu…

care services. A. Receipts of a health care practitioner or an association of health care practitioners from payments by the United States government, or any agency thereof, or from a medicare administrative contractor for medical and other health services provided by a health ca…