Chapter 7 — Chapter 7
1,736 sections in this chapter.
NMSA 1978, § 7-9-99 Deduction; gross receipts tax; sale of engineering,
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architectural and new facility construction services used in construction of certain public health care facilities. Receipts from selling an engineering, architectural or construction service used in the new facility construction of a sole community provider hospital [qualifying …
NMSA 1978, § 7-9A-1 Short title
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Chapter 7, Article 9A NMSA 1978 may be cited as the "Investment Credit Act". History: Laws 1979, ch. 347, § 1; 1991, ch. 159, § 1; 1991, ch. 162, § 1.
NMSA 1978, § 7-9A-10 Repealed
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ANNOTATIONS Repeals. — Laws 1981, ch. 177, § 1, repealed 7-9A-10 NMSA 1978, relating to the inapplicability of the Investment Credit Act for equipment introduced or purchased after January 1, 1982, effective June 19, 1981.
NMSA 1978, § 7-9A-11 Transition provisions
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A. The provisions of this section apply on the date that changes to the provisions in the Investment Credit Act become effective limiting the amount of qualified equipment that may be claimed and increasing the employment requirements with respect to qualified equipment. B. The a…
NMSA 1978, § 7-9A-2 Purpose of act
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It is the purpose of the Investment Credit Act to provide a favorable tax climate for manufacturing businesses and to promote increased employment in New Mexico. History: Laws 1979, ch. 347, § 2; 1983, ch. 206, § 1.
NMSA 1978, § 7-9A-2.1 Repealed
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History: Laws 2001, ch. 57, § 2; Laws 2001, ch. 337, § 2; repealed by Laws 2025, ch. 130, § 155.
NMSA 1978, § 7-9A-3 Definitions
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As used in the Investment Credit Act: A. "department" means the taxation and revenue department, the secretary of taxation and revenue or any employee of the department exercising authority lawfully delegated to that employee by the secretary; B. "equipment" means an essential ma…
NMSA 1978, § 7-9A-4 Administration of the act
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The department is charged with the administration of the Investment Credit Act. History: Laws 1979, ch. 347, § 4; 1991, ch. 159, § 3; 1991, ch. 162, § 3.
NMSA 1978, § 7-9A-5 Investment credit; amount; claimant
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A. The investment credit provided for in the Investment Credit Act may be claimed by a taxpayer carrying on a manufacturing operation in New Mexico in an amount equal to: (1) the product of the sum of the compensating tax rate and any municipal or county compensating tax rate mul…
NMSA 1978, § 7-9A-6 Qualified equipment
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Equipment not previously used in New Mexico and not previously approved for a credit under the Investment Credit Act that is owned by the taxpayer or owned by the United States or an agency or instrumentality thereof or the state or a political subdivision thereof and leased or s…
NMSA 1978, § 7-9A-7 Value of qualified equipment
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Prior to July 1, 2030, the value of qualified equipment shall be the adjusted basis established for the equipment under the applicable provisions of the Internal Revenue Code of 1986. History: Laws 1979, ch. 347, § 7; 1983, ch. 206, § 5; 1990, ch. 3, § 5; 1991, ch. 159, § 5; 1991…
NMSA 1978, § 7-9A-7.1 Employment requirements
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A. Prior to July 1, 2030, to be eligible to claim a credit pursuant to the Investment Credit Act, the taxpayer shall employ the equivalent of one full-time employee who has not been counted to meet this employment requirement for any prior claim in addition to the number of full-…
NMSA 1978, § 7-9A-8 Claiming the credit for certain taxes
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A. A taxpayer shall apply for approval for a credit within one year following the end of the calendar year in which the qualified equipment for the manufacturing operation is purchased or introduced into New Mexico. B. A taxpayer having applied for and been granted approval for a…
NMSA 1978, § 7-9A-9 Credit claim forms
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The department shall provide credit claim forms. A credit claim shall accompany any return to which the taxpayer wishes to apply an approved credit, and the claim shall specify the amount of credit intended to apply to each return. History: Laws 1979, ch. 347, § 9; 1991, ch. 159,…
NMSA 1978, § 7-9B-1 Repealed
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ANNOTATIONS Repeals. — Laws 1995, ch. 80, § 2, repealed 7-9B-1, as enacted by Laws 1992, ch. 47, § 1, relating to the short title of the Filmmaker's Credit Act, effective July 1, 1996. For provisions of former sections, see the 1994 NMSA 1978 on NMOneSource.com.
NMSA 1978, § 7-9B-2 Repealed
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ANNOTATIONS Repeals. — Laws 1995, ch. 80, § 2, repealed 7-9B-2, as enacted by Laws 1992, ch. 47, § 2, relating to the purpose of the Filmmaker's Credit Act, effective July 1, 1996. For provisions of former sections, see the 1994 NMSA 1978 on NMOneSource.com.
NMSA 1978, § 7-9B-3 Repealed
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ANNOTATIONS Repeals. — Laws 1995, ch. 80, § 2, repealed 7-9B-3, as enacted by Laws 1992, ch. 47, § 3, relating to definitions of the Filmmaker's Credit Act, effective July 1, 1996. For provisions of former sections, see the 1994 NMSA 1978 on NMOneSource.com.
NMSA 1978, § 7-9B-4 Repealed
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ANNOTATIONS Repeals. — Laws 1995, ch. 80, § 2, repealed 7-9B-4, as enacted by Laws 1992, ch. 47, § 4, relating to filmmaker's credit, amount, effective July 1, 1996. For provisions of former sections, see the 1994 NMSA 1978 on NMOneSource.com.
NMSA 1978, § 7-9B-5 Repealed
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ANNOTATIONS Repeals. — Laws 1995, ch. 80, § 2, repealed 7-9B-5, as enacted by Laws 1992, ch. 47, § 5, relating to qualifying and applying for the filmmaker's credit, effective July 1, 1996. For provisions of former sections, see the 1994 NMSA 1978 on NMOneSource.com.
NMSA 1978, § 7-9B-6 Repealed
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ANNOTATIONS Repeals. — Laws 1995, ch. 80, § 2, repealed 7-9B-6, as enacted by Laws 1992, ch. 47, § 6, relating to application of filmmaker's credit to tax liability, effective July 1, 1996. For provisions of former sections, see the 1994 NMSA 1978 on NMOneSource.com.
NMSA 1978, § 7-9B-7 Repealed
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ANNOTATIONS Repeals. — Laws 1995, ch. 80, § 2, repealed 7-9B-7, as enacted by Laws 1992, ch. 47, § 7, relating to administration of the Filmmaker's Credit Act, effective July 1, 1996. For provisions of former sections, see the 1994 NMSA 1978 on NMOneSource.com. ARTICLE 9C Interst…
NMSA 1978, § 7-9C-1 Short title
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Chapter 7, Article 9C NMSA 1978 may be cited as the "Interstate Telecommunications Gross Receipts Tax Act". History: Laws 1992, ch. 50, § 1 and Laws 1992, ch. 67, § 1; 1993, ch. 30, § 15.
NMSA 1978, § 7-9C-10 Credit; services performed outside the state
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To prevent actual multi-jurisdictional taxation of the privilege of engaging in business of providing interstate telecommunications services, any taxpayer, upon proof that the taxpayer has paid a sales, use, gross receipts or similar tax on the same interstate telecommunications …
NMSA 1978, § 7-9C-11 Administration
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A. The department shall interpret the provisions of the interstate telecommunications gross receipts tax. B. The department shall administer and enforce the collection of the interstate telecommunications gross receipts tax, and the Tax Administration Act [Chapter 7, Article 1 NM…
NMSA 1978, § 7-9C-2 Definitions
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As used in the Interstate Telecommunications Gross Receipts Tax Act: A. "charges for mobile telecommunications services" has the meaning given in the federal Mobile Telecommunications Sourcing Act; B. "department" means the taxation and revenue department, the secretary of taxati…
NMSA 1978, § 7-9C-3 Imposition and rate of tax; denomination as interstate
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telecommunications gross receipts tax. A. For the privilege of engaging in interstate telecommunications business, an excise tax equal to four and one-fourth percent of interstate telecommunications gross receipts is imposed upon any person engaging in interstate telecommunicatio…
NMSA 1978, § 7-9C-4 Presumption of taxability
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A. To prevent evasion of the interstate telecommunications gross receipts tax and to aid in its administration, it is presumed that all receipts of a person engaging in interstate telecommunications business are subject to the interstate telecommunications gross receipts tax. B. …
NMSA 1978, § 7-9C-5 Date payment due
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The interstate telecommunications gross receipts tax is to be paid to the department on or before the twenty-fifth day of the month following the month in which the taxable event occurs. History: Laws 1992 ch. 50, § 5 and Laws 1992, ch. 67, § 5.
NMSA 1978, § 7-9C-6 Deduction; certain telephone services
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Receipts from the provision of wide-area telephone service and private communications service in this state may be deducted from interstate telecommunications gross receipts. History: Laws 1992, ch. 50, § 6 and Laws 1992, ch. 67, § 6; 1993, ch. 30, § 17.
NMSA 1978, § 7-9C-7 Deduction; sale of a service for resale
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Receipts from providing an interstate telecommunications service in this state that will be used by other persons in providing telephone or telegraph services to the final user may be deducted from interstate telecommunications gross receipts if the sale is made to a person who i…
NMSA 1978, § 7-9C-8 Deductions; telecommunications providers
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A. Receipts from interstate telecommunications services that are provided by a corporation to itself or to an affiliated corporation may be deducted from interstate telecommunications gross receipts. B. For the purposes of this section: (1) "affiliated corporation" means a corpor…
NMSA 1978, § 7-9C-9 Deduction; bad debts
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Refunds and allowances made to buyers of interstate telecommunications services or amounts written off the books as an uncollectible debt by a person reporting interstate telecommunications gross receipts tax on an accrual basis may be deducted from interstate telecommunications …
NMSA 1978, § 7-9D-1 Repealed
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History: Laws 1999, ch. 178, § 1.
NMSA 1978, § 7-9D-2 Repealed
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History: Laws 1999, ch. 178, § 2.
NMSA 1978, § 7-9D-3 Repealed
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History: Laws 1999, ch. 178, § 3.
NMSA 1978, § 7-9D-4 Repealed
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History: Laws 1999, ch. 178, § 4.
NMSA 1978, § 7-9D-5 Repealed
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History: Laws 1999, ch. 178, § 5.
NMSA 1978, § 7-9D-6 Repealed
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History: Laws 1999, ch. 178, § 6.
NMSA 1978, § 7-9D-7 Repealed
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History: Laws 1999, ch. 178, § 7.
NMSA 1978, § 7-9D-8 Repealed
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History: Laws 1999, ch. 178, § 8.
NMSA 1978, § 7-9D-9 Repealed
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History: Laws 1999, ch. 178, § 9.
NMSA 1978, § 7-9E-1 Short title
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Chapter 7, Article 9E NMSA 1978 may be cited as the "Laboratory Partnership with Small Business Tax Credit Act". History: Laws 2000 (2nd S.S.), ch. 20, § 1; 2007, ch. 172, § 14.
NMSA 1978, § 7-9E-10 Coordination between national laboratories
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If more than one national laboratory is eligible for a tax credit pursuant to the Laboratory Partnership with Small Business Tax Credit Act, a national laboratory shall not file a tax credit claim pursuant to the Laboratory Partnership with Small Business Tax Credit Act until: A.…
NMSA 1978, § 7-9E-11 Reporting
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A. By October 15 of each year, a national laboratory that has claimed a tax credit pursuant to the Laboratory Partnership with Small Business Tax Credit Act for the previous calendar year shall submit an annual report in writing to the department, the economic development departm…
NMSA 1978, § 7-9E-2 Purpose of act
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It is the purpose of the Laboratory Partnership with Small Business Tax Credit Act to bring the technology and expertise of the national laboratories to small businesses in New Mexico to promote economic development in the state, with an emphasis on rural areas. History: Laws 200…
NMSA 1978, § 7-9E-3 Definitions
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As used in the Laboratory Partnership with Small Business Tax Credit Act: A. "contractor": (1) means a person that: (a) has the capability to provide small business assistance; and (b) may enter into a contract with a national laboratory to provide small business assistance; and …
NMSA 1978, § 7-9E-4 Administration of act
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The department shall administer the Laboratory Partnership with Small Business Tax Credit Act pursuant to the Tax Administration Act [Chapter 7, Article 1 NMSA 1978]. History: Laws 2000 (2nd S.S.), ch. 20, § 4.
NMSA 1978, § 7-9E-5 Eligibility requirements
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A national laboratory is eligible for a tax credit in an amount equal to qualified expenditures if: A. the small business assistance is rendered to a small business located in New Mexico; B. the small business assistance is completed; C. the small business certifies to the nation…
NMSA 1978, § 7-9E-6 Administration by the national laboratory
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To qualify for tax credits pursuant to the Laboratory Partnership with Small Business Tax Credit Act, a national laboratory shall: A. establish a small business assistance program; B. establish a revolving fund with initial funding from a source other than tax credits. Money from…
NMSA 1978, § 7-9E-7 Tax credits; amounts
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A tax credit provided pursuant to the Laboratory Partnership with Small Business Tax Credit Act shall be in an amount equal to the qualified expenditure incurred by the national laboratory to provide small business assistance to a specific small business, not to exceed twenty tho…