N.M. Admin. Code § 3.13.7.12

Current through Register Vol. 36, No. 1, January 14, 2025

Section 3.13.7.12 - APPLICATION OF THE CREDIT

A. The credit allowed by Section 7-9J-4 NMSA 1978 may not be applied against any local option gross receipts tax imposed by a county or municipality.

B. The credit may not be applied to a report period prior to the report period that includes the first day on which qualified expenditures were made for equipment included on the application for which the credit was approved by the department.

3.13.7.12 NMAC - N, 12/31/08