Section 7-9-73.2 - Deduction; gross receipts tax and governmental gross receipts tax; prescription drugs; oxygen; cannabisA. Receipts from the sale of prescription drugs and oxygen and oxygen services provided by a licensed medicare durable medical equipment provider and cannabis products that are sold in accordance with the Lynn and Erin Compassionate Use Act [Chapter 26, Article 2B NMSA 1978] may be deducted from gross receipts and governmental gross receipts.B. For the purposes of this section, "prescription drugs" means insulin and substances that are: (1) dispensed by or under the supervision of a licensed pharmacist or by a physician or other person authorized under state law to do so;(2) prescribed for a specified person by a person authorized under state law to prescribe the substance; and(3) subject to the restrictions on sale contained in Subparagraph 1 of Subsection (b) of 21 USCA 353. Laws 1998, ch. 95, § 2; Laws 1998, ch. 99, § 4; 2003, ch. 272, § 7; 2007, ch. 361, § 3.Amended by 2021SP1, c. 4,s. 53, eff. 6/18/2021.