Deduction; receipts from sales to state-chartered credit unions.

  1. Law
  2. New Mexico Statutes
  3. Taxation
  4. Gross Receipts and Compensating Tax
  5. Deduction; receipts from sales to state-chartered credit unions.

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Receipts from selling tangible personal property to credit unions chartered under the provisions of the Credit Union Act [Chapter 58, Article 11 NMSA 1978] are deductible to the same extent that receipts from the sale of tangible personal property to federal credit unions may be deducted pursuant to the provisions of Section 7-9-54 NMSA 1978.

History: 1978 Comp., § 7-9-61.2, enacted by Laws 2000, ch. 48, § 1.

ANNOTATIONS

Effective dates. — Laws 2000, ch. 48, § 2 made Laws 2000, ch. 48, § 1 effective July 1, 2000.


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