N.M. Stat. § 7-9-48

Current through 2024, ch. 69
Section 7-9-48 - Deduction; gross receipts tax; governmental gross receipts; sale of a service for resale

Receipts from selling a service for resale may be deducted from gross receipts or from governmental gross receipts if the sale is made to a person who delivers a nontaxable transaction certificate to the seller or provides alternative evidence pursuant to Section 7-9-43 NMSA 1978. The buyer must resell the service in the ordinary course of business and the resale must be subject to the gross receipts tax or governmental gross receipts tax.

NMS § 7-9-48

1953 Comp., § 72-16A-14.3, enacted by Laws 1969, ch. 144, § 38; 1992, ch. 100, § 6; 2000, ch. 84, § 2.
Amended by 2021, c. 65,s. 15, eff. 7/1/2021.