Receipts from the leasing or licensing of theatrical and television films and tapes to a person engaged in the business of providing public or commercial entertainment from which gross receipts are derived may be deducted from gross receipts.
History: 1978 Comp., § 7-9-76.2, enacted by Laws 1984, ch. 2, § 6.
ANNOTATIONSEmergency clauses. — Laws 1984, ch. 2, § 14 contained an emergency clause and was approved February 11, 1984.
Compiler's notes. — Laws 1984, ch. 129, § 2, also enacted a 7-9-76.2 NMSA 1978, but that section, which related to a deduction of real estate commissions from the gross receipts tax, was redesignated as 7-9-66.1 NMSA 1978.
Am. Jur. 2d, A.L.R. and C.J.S. references. — Applicability of sales or use taxes to motion pictures and video tapes, 10 A.L.R.4th 1209.