Deduction; gross receipts tax; receipts from certain purchases by or on behalf of the state.

  1. Law
  2. New Mexico Statutes
  3. Taxation
  4. Gross Receipts and Compensating Tax
  5. Deduction; gross receipts tax; receipts from certain purchases by or on behalf of the state.

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Receipts from the sale of property or services purchased by or on behalf of the state from funds obtained from the forfeiture of financial assurance pursuant to the New Mexico Mining Act [Chapter 69, Article 36 NMSA 1978] or the forfeiture of financial responsibility pursuant to the Water Quality Act [Chapter 74, Article 6 NMSA 1978] may be deducted from gross receipts.

History: Laws 2005, ch. 169, § 1.

ANNOTATIONS

Effective dates. — Laws 2005, ch. 169 contained no effective date provision, but, pursuant to N.M. Const., art. IV, § 23, was effective June 17, 2005, 90 days after adjournment of the legislature.


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