N.M. Admin. Code § 3.2.205.21
Current through Register Vol. 35, No. 24, December 23, 2024
When the lessor of real property conveys water, natural gas or electricity to a lessee as a condition of the lease of the real property, the lessor is using the water, natural gas or electricity to fulfill the conditions of the lease whether or not a separate charge is made to the lessee. The lessor is not reselling the water, natural gas or electricity in the ordinary course of business and may not execute a nontaxable transaction certificate under Section 7-9-47 NMSA 1978 for the purchase of the water, natural gas or electricity. See Subsection E of Section 3.2.211.8 NMAC.
N.M. Admin. Code § 3.2.205.21