Exemption; compensating tax; use of electricity in the production, conversion and transmission of electricity.

  1. Law
  2. New Mexico Statutes
  3. Taxation
  4. Gross Receipts and Compensating Tax
  5. Exemption; compensating tax; use of electricity in the production, conversion and transmission of electricity.

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Exempted from the compensating tax is electricity used in the production and transmission of electricity, including transmission using voltage source conversion technology.

History: 1953 Comp., § 72-16A-12.26, enacted by Laws 1969, ch. 144, § 31; 2012, ch. 12, § 1.

ANNOTATIONS

The 2012 amendment, effective July 1, 2012, exempted electricity used in the transmission of electricity using voltage source conversion technology and after "transmission of electricity", added the remainder of the sentence.


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