N.M. Admin. Code § 3.2.212.20
Current through Register Vol. 35, No. 24, December 23, 2024
Section 3.2.212.20 - METROPOLITAN REDEVELOPMENT PROJECTSA. Receipts from selling tangible personal property which is or will be incorporated into a metropolitan redevelopment project created under the Metropolitan Redevelopment Code in New Mexico are subject to gross receipts tax.B. A seller of tangible personal property which is or will be incorporated into a metropolitan redevelopment project created under the Metropolitan Redevelopment Code may not claim the deduction from gross receipts provided by Section 7-9-54 NMSA 1978 by accepting a nontaxable transaction certificate from the municipality in question nor by proving payment from government funds.N.M. Admin. Code § 3.2.212.20
10/2/85, 4/2/86, 11/26/90, 11/15/96; 3.2.212.20 NMAC - Rn & A, 3 NMAC 2.54.20, 5/31/01