Exemption; gross receipts tax and compensating tax; fuel for space vehicles.

  1. Law
  2. New Mexico Statutes
  3. Taxation
  4. Gross Receipts and Compensating Tax
  5. Exemption; gross receipts tax and compensating tax; fuel for space vehicles.

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A. Exempted from the gross receipts tax are the receipts from selling fuel, oxidizer or a substance that combines fuel and oxidizer to propel space vehicles or to operate space vehicle launchers.

B. Exempted from the compensating tax is the use of fuel, oxidizer or a substance that combines fuel and oxidizer to propel space vehicles or to operate space vehicle launchers.

History: 1978 Comp., § 7-9-26.1, enacted by Laws 2003, ch. 62, § 1.

ANNOTATIONS

Effective dates. — Laws 2003, ch. 62, § 5 made Laws 2003, ch. 62, § 1 effective July 1, 2003.


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