N.M. Admin. Code § 3.2.127.8
Current through Register Vol. 35, No. 21, November 5, 2024
The receipts of a nonprofit social or fraternal organization from assessments made to its members when members who are assessed receive blazers, emblems, or services of more than nominal value upon payment of the assessments are subject to the gross receipts tax. These receipts are not exempted from the gross receipts tax pursuant to Section 7-9-39 NMSA 1978 because they are not receipts derived from either "dues" or "registration fees".
N.M. Admin. Code § 3.2.127.8