Deduction; transactions in interstate commerce.

  1. Law
  2. New Mexico Statutes
  3. Taxation
  4. Leased Vehicle Gross Receipts Tax
  5. Deduction; transactions in interstate commerce.

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Receipts from transactions in interstate commerce may be deducted from gross receipts to the extent that the imposition of the leased vehicle gross receipts tax would be unlawful under the United States constitution.

History: Laws 1991, ch. 197, § 11.

ANNOTATIONS

Effective dates. — Laws 1991, ch. 197, § 16 made Laws 1991, ch. 197, § 11 effective July 1, 1991.


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