N.M. Admin. Code § 3.2.230.8

Current through Register Vol. 35, No. 23, December 10, 2024

Section 3.2.230.8 - WHEN FEDERAL AUTHORITY REQUIRED

A. If a federal agency must grant authority for a person to engage lawfully in interstate transportation of persons or property, any person claiming a deduction under Section 7-9-70 NMSA 1978 must have rented or leased the vehicle to a person who holds federal authority for the transportation of passengers or property for hire in interstate commerce and who uses the vehicle for such purposes. The deduction under Section 7-9-70 NMSA 1978 is available to the lessor, not the lessee.

B. [Repealed.]

12/5/69, 3/9/72, 11/20/72, 3/20/74, 7/26/76, 6/18/79, 4/7/82, 5/4/84, 4/2/86, 11/26/90, 11/15/96; 4/30/99; 3.2.230.8 NMAC - Rn, 3 NMAC 2.70.8 & A, 6/14/01