reglab/housing_qa huggingface dataset:
NM Stat § 7-9-105 (2021)
2021 New Mexico Statutes|Chapter 7 - Taxation|Article 9 - Gross Receipts and Compensating Tax|Section 7-9-105 - Credit for penalty pursuant to Section 7-1-71.2 NMSA 1978 [repealed].

A. A taxpayer who paid a penalty pursuant to the provisions of Section 7-1-71.2 NMSA 1978 [repealed] in effect prior to July 1, 2007 may claim a credit for the amount of the penalty. B. To claim the credit provided in Subsection A of this section, the taxpayer shall apply to the taxation and revenue department prior to July 1, 2010, on forms and in the manner prescribed by the department, and shall supply documentation as required by the department. C. The amount of credit provided in Subsection A of this section may be claimed against the taxpayer's gross receipts tax, compensating tax and withholding tax due in a reporting period. Any amount of available credit that exceeds the taxpayer's gross receipts tax, compensating tax and withholding tax due for a reporting period may be claimed in subsequent reporting periods, for a period of three years. History: Laws 2007, ch. 45, § 6. ANNOTATIONSBracketed material. — Laws 2007, ch. 45, § 14 repealed 7-1-71.2 NMSA 1978, effective July 1, 2007. Effective dates. — Laws 2007, ch. 45, § 16 made Laws 2007, ch. 45, § 6 effective July 1, 2007.
NM Stat § 7-9-106 (2021)
2021 New Mexico Statutes|Chapter 7 - Taxation|Article 9 - Gross Receipts and Compensating Tax|Section 7-9-106 - Deduction; construction services and equipment.

A. Prior to July 1, 2022, receipts from construction services to implement a fighter aircraft pilot training mission project at a New Mexico military installation pursuant to contracts entered into with the United States department of defense may be deducted from gross receipts; provided that the military installation is located in a class B county with a population greater than sixty thousand according to the most recent federal decennial census. B. The purpose of the deduction provided by this section is to encourage the permanent relocation of fighter aircraft squadrons from other states to a military installation in New Mexico. C. A taxpayer allowed a deduction pursuant to this section shall report the amount of the deduction separately in a manner required by the department. D. The department shall compile an annual report on the deduction provided by this section that shall include the number of taxpayers that claimed the deduction, the aggregate amount of deductions claimed and any other information necessary to evaluate the effectiveness of the deduction. The department shall present the annual report to the revenue stabilization and tax policy committee and the legislative finance committee with an analysis of the effectiveness and cost of the deduction and whether the deduction is performing the purpose for which it was created. History: Laws 2007, ch. 172, § 8; repealed and reenacted by Laws 2018, ch. 62, § 1. ANNOTATIONSRepeals and reenactments. — Laws 2018, ch. 62, § 1 repealed former 7-9-106 NMSA 1978, and enacted a new section, effective July 1, 2018.
NM Stat § 7-9-107 (2021)
2021 New Mexico Statutes|Chapter 7 - Taxation|Article 9 - Gross Receipts and Compensating Tax|Section 7-9-107 - Deduction; gross receipts tax; production or staging of professional contests.

Receipts from producing or staging a professional boxing, wrestling or martial arts contest that occurs in New Mexico, including receipts from ticket sales and broadcasting, may be deducted from gross receipts. History: Laws 2007, ch. 172, § 9. ANNOTATIONSEffective dates. — Laws 2007, ch. 172, § 30 made Laws 2007, ch. 172, § 9 effective July 1, 2007.
NM Stat § 7-9-108 (2021)
2021 New Mexico Statutes|Chapter 7 - Taxation|Article 9 - Gross Receipts and Compensating Tax|Section 7-9-108 - Deduction; gross receipts; receipts from performing management or investment advisory services for mutual funds, hedge funds or real estate investment trusts.

A. Receipts from fees received for performing management or investment advisory services for a mutual fund, hedge fund or real estate investment trust may be deducted from gross receipts. B. As used in this section: (1) "hedge fund" means a private investment fund or pool, the assets of which are managed by a professional management firm, that: (a) trades or invests, through public market or private transactions, in securities, commodities, currency, derivatives or similar classes of financial assets; or (b) is not an investment company pursuant to the provisions of 15 U.S.C. 80a-3(c)(1) or 15 U.S.C. 80a-3(c)(7); (2) "mutual fund" means an entity registered pursuant to the federal Investment Company Act of 1940, as amended; and (3) "real estate investment trust" means an entity described in Section 856(a) of the Internal Revenue Code of 1986, as amended, the investments of which are limited to interests in mortgages on real property and shares of or transferable certificates of beneficial interest in an entity described in Section 856(a) of the Internal Revenue Code of 1986, as amended. History: Laws 2007, ch. 172, § 10. ANNOTATIONSCross references. — For the federal Investment Company Act of 1940, see 15 U.S.C., § 80(a). For the Internal Revenue Code of 1986, see 26 U.S.C. § 1. Effective dates. — Laws 2007, ch. 172, § 30 made Laws 2007, ch. 172, § 10 effective July 1, 2007.
NM Stat § 7-9-109 (2021)
2021 New Mexico Statutes|Chapter 7 - Taxation|Article 9 - Gross Receipts and Compensating Tax|Section 7-9-109 - Deduction; gross receipts tax; veterinary medical services, medicine or medical supplies used in medical treatment of cattle.

A. Receipts from sales of veterinary medical services, medicine or medical supplies used in the medical treatment of cattle may be deducted from gross receipts if the sale is made to a person who states in writing that the person is regularly engaged in the business of ranching or farming, including dairy farming, in New Mexico or if the sale is made to a veterinarian who holds a valid license pursuant to the Veterinary Practice Act [Chapter 61, Article 14 NMSA 1978] and who is providing veterinary medical services, medicine or medical supplies in the treatment of cattle owned by that person. B. As used in this section, "cattle" means animals of the genus bos, including dairy cattle, and does not include any other kind of livestock. History: Laws 2007, ch. 172, § 11. ANNOTATIONSEffective dates. — Laws 2007, ch. 172, § 30 made Laws 2007, ch. 172, § 11 effective July 1, 2007.
NM Stat § 7-9-110 (2021)
2021 New Mexico Statutes|Chapter 7 - Taxation|Article 9 - Gross Receipts and Compensating Tax|Section 7-9-110 - Deleted.

History: Laws 2007, ch. 172, § 12.ANNOTATIONSCompiler's notes. — Laws 2008, ch. 11, § 1, amended Laws 2007, ch. 172, § 29, to provide that if the requirements of Subsection A of Laws 2007, ch. 172, § 29 were not fulfilled, the effective date of this section would be July 1, 2010, provided that prior to January 1, 2010, the economic development department certify to the taxation and revenue department that construction of a railroad locomotive refueling facility project in Do a Ana county had commenced, including the land acquisition, acquisition of all necessary permits and commencement of actual construction. On February 16, 2010, the New Mexico compilation commission received a letter from the economic development department dated February 12, 2010, notifying the compilation commission that while Union Pacific had made the land acquisition, construction of a railroad locomotive refueling facility project in Do a Ana county had not commenced as required by Laws 2007, ch. 172, § 29. Therefore, Section 7-9-110 NMSA 1978 failed to become effective and was deleted by the compiler. For provisions of former section, see the 2010 NMSA 1978 on NMOneSource.com.
NM Stat § 7-9-110.1 (2021)
2021 New Mexico Statutes|Chapter 7 - Taxation|Article 9 - Gross Receipts and Compensating Tax|Section 7-9-110.1 - Deduction; gross receipts tax; locomotive engine fuel.

Receipts from the sale of fuel to a common carrier to be loaded or used in a locomotive engine may be deducted from gross receipts. For the purposes of this section, "locomotive engine" means a wheeled vehicle consisting of a self-propelled engine that is used to draw trains along railway tracks. History: Laws 2011, ch. 60, § 1 and Laws 2011, ch. 61, § 1. ANNOTATIONSCompiler's notes. — Laws 2011, ch. 61, § 5 made the effective date of Laws 2011, ch. 61, §§ 1, 2 and 3 July 1, 2013, provided that prior to July 1, 2012, the economic development department certifies to the taxation and revenue department that construction of a railroad locomotive refueling facility project in Do a Ana county has commenced, including land acquisition, acquisition of all necessary permits and commencement of actual construction and directed the taxation and revenue department to notify the New Mexico compilation commission and the director of the legislative council service prior to July 1, 2013 as to whether the certification from the economic development department has been received. Pursuant to the provisions of Laws 2011, ch. 61, § 5, on March 7, 2012, the economic development department certified to the taxation and revenue department that construction of a railroad locomotive refueling facility project in Do a Ana county had commenced, including land acquisition, acquisition of all necessary permits and commencement of actual construction, and directed the taxation and revenue department to notify the New Mexico compilation commission and the director of the legislative council service prior to July 1, 2013, that the certification was received. Therefore, Laws 2011, ch. 61, §§ 1, 2 and 3 become effective July 1, 2013. Duplicate laws. — Laws 2011, ch. 60, § 1 and Laws 2011, ch. 61, § 1 enacted identical new sections. The section was set out as enacted by Laws 2011, ch. 61, § 1. See 12-1-8 NMSA 1978.
NM Stat § 7-9-110.2 (2021)
2021 New Mexico Statutes|Chapter 7 - Taxation|Article 9 - Gross Receipts and Compensating Tax|Section 7-9-110.2 - Deduction; compensating tax; locomotive engine fuel.

The value of fuel to be loaded or used by a common carrier in a locomotive engine may be deducted in computing the compensating tax due. For the purposes of this section, "locomotive engine" means a wheeled vehicle consisting of a self-propelled engine that is used to draw trains along railway tracks. History: Laws 2011, ch. 60, § 2 and Laws 2011, ch. 61, § 2. ANNOTATIONSCompiler's notes. — Laws 2011, ch. 61, § 5 made the effective date of Laws 2011, ch. 61, §§ 1, 2 and 3 July 1, 2013, provided that prior to July 1, 2012, the economic development department certifies to the taxation and revenue department that construction of a railroad locomotive refueling facility project in Do a Ana county has commenced, including land acquisition, acquisition of all necessary permits and commencement of actual construction and directed the taxation and revenue department to notify the New Mexico compilation commission and the director of the legislative council service prior to July 1, 2013 as to whether the certification from the economic development department has been received. Pursuant to the provisions of Laws 2011, ch. 61, § 5, on March 7, 2012, the economic development department certified to the taxation and revenue department that construction of a railroad locomotive refueling facility project in Do a Ana county had commenced, including land acquisition, acquisition of all necessary permits and commencement of actual construction, and directed the taxation and revenue department to notify the New Mexico compilation commission and the director of the legislative council service prior to July 1, 2013, that the certification was received. Therefore, Laws 2011, ch. 61, §§ 1, 2 and 3 become effective July 1, 2013. Duplicate laws. — Laws 2011, ch. 60, § 2 and Laws 2011, ch. 61, § 2 enacted identical new sections. The section was set out as enacted by Laws 2011, ch. 61, § 2. See 12-1-8 NMSA 1978.
NM Stat § 7-9-111 (2021)
2021 New Mexico Statutes|Chapter 7 - Taxation|Article 9 - Gross Receipts and Compensating Tax|Section 7-9-111 - Deduction; gross receipts; hearing aids and vision aids and related services.

A. Receipts that are not exempt from gross receipts taxation and are not deductible pursuant to another provision of the Gross Receipts and Compensating Tax Act that are from the sale of vision aids or hearing aids or related services may be deducted from gross receipts. B. As used in this section: (1) "hearing aid" means a small electronic prescription device that amplifies sound and is usually worn in or behind the ear of a person that compensates for impaired hearing, including cochlear implants, amplification systems or other devices that are: (a) specifically designed for use by and marketed to persons with hearing loss; and (b) not normally used by a person who does not have a hearing loss; (2) "low vision" means impaired vision with a significant reduction in visual function that cannot be corrected with conventional glasses or contact lenses; (3) "related services" means services required to fit or dispense hearing aids or vision aids; (4) "vision aid" means closed circuit television systems, monoculars, magnification systems, speech output devices or other systems that are: (a) specifically designed for use by and marketed to persons with low vision or visual impairments; and (b) not normally used by a person who does not have low vision or a visual impairment; and (5) "visual impairment" means a central visual acuity of 20/200 or less in the better eye with the use of a correcting lens or a limitation in the fields of vision so that the widest diameter of the visual field subtends an angle of twenty degrees or less. History: Laws 2007, ch. 361, § 6. ANNOTATIONSEffective dates. — Laws 2007, ch. 361, § 11 made Laws 2007, ch. 361, § 6 effective July 1, 2007.
NM Stat § 7-9-112 (2021)
2021 New Mexico Statutes|Chapter 7 - Taxation|Article 9 - Gross Receipts and Compensating Tax|Section 7-9-112 - Deduction; gross receipts; solar energy systems.

A. Receipts from the sale and installation of solar energy systems may be deducted from gross receipts. B. As used in this section, "solar energy system" means an installation that is used to provide space heat, hot water or electricity to the property in which it is installed and is: (1) an installation that utilizes solar panels that are not also windows, including the solar panels and all equipment necessary for the installation and operation of the solar panels; (2) a dark-colored water tank exposed to sunlight, including all equipment necessary for the installation and operation of the water tank as a part of the overall water system of the property; or (3) a non-vented trombe wall, including all equipment necessary for the installation and operation of the trombe wall. History: Laws 2007, ch. 204, § 10. ANNOTATIONSEffective dates. — Laws 2007, ch. 204 contained no effective date provision, but, pursuant to N.M. Const., art. IV, § 23, was effective June 15, 2007, 90 days after the adjournment of the legislature.
NM Stat § 7-9-113 (2021)
2021 New Mexico Statutes|Chapter 7 - Taxation|Article 9 - Gross Receipts and Compensating Tax|Section 7-9-113 - Repealed.

History: Laws 2009, ch. 99, § 1; repealed by Laws 2009, ch. 99, § 4.ANNOTATIONSRepeals. — Laws 2009, ch. 99, § 4 repealed 7-9-113 NMSA 1978, as enacted by Laws 2009, ch. 99, § 1, relating to gross receipts deduction for special fuel, dyed diesel, effective July 1, 2014. For provisions of former section, see the 2013 NMSA 1978 on NMOneSource.com.
NM Stat § 7-9-117 (2021)
2021 New Mexico Statutes|Chapter 7 - Taxation|Article 9 - Gross Receipts and Compensating Tax|Section 7-9-117 - Deduction; gross receipts; governmental gross receipts; marketplace seller.

A. A marketplace seller may deduct receipts for sales, leases and licenses of tangible personal property, sales of licenses and sales of services or licenses for use of real property that are facilitated by a marketplace provider from gross receipts and governmental gross receipts; provided that the marketplace seller obtains documentation from the marketplace provider indicating that the marketplace provider is registered with the department and has remitted or will remit the taxes due on the gross receipts from those transactions.B. The deduction provided by this section shall not apply if the marketplace provider is determined not to owe the tax due to the marketplace provider's reliance on information provided by the seller as determined pursuant to Subsection C of Section 7-9-5 NMSA 1978.History: Laws 2019, ch.270, § 36; 2020, ch. 80, § 6. ANNOTATIONSThe 2020 amendment, effective July 1, 2020, expanded the marketplace sellers gross receipts tax deduction to include both gross receipts tax and governmental gross receipts tax; in the section heading, added "governmental gross receipts"; and in Subsection A, after "marketplace provider", added "from gross receipts and governmental gross receipts".
NM Stat § 7-9-119 (2021)
2021 New Mexico Statutes|Chapter 7 - Taxation|Article 9 - Gross Receipts and Compensating Tax|Section 7-9-119 - Deduction; sales made by dispenser's license holder.

A. Prior to January 1, 2026, a liquor license holder who held the license on June 30, 2021 may deduct from gross receipts the following receipts, for each dispenser's license for which sales of alcoholic beverages for consumption off premises are less than fifty percent of total alcoholic beverage sales, up to fifty thousand dollars ($50,000) of receipts from the sale of alcoholic beverages for taxable years 2022 through 2025.B. A taxpayer allowed a deduction pursuant to this section shall report the amount of the deduction separately in a manner required by the department.C. The department shall compile an annual report on the deduction provided by this section that shall include the number of taxpayers that claimed the deduction, the aggregate amount of deductions claimed and any other information necessary to evaluate the effectiveness of the deduction. The department shall compile and present the report to the revenue stabilization and tax policy committee and the legislative finance committee with an analysis of the cost of the deduction.D. As used in this section:(1) "alcoholic beverage" means alcoholic beverage as defined in the Liquor Control Act;(2) "dispenser's license" means a license issued pursuant to the provisions of the Liquor Control Act [60-3A-1 NMSA 1978] allowing the licensee to sell, offer for sale or have in the person's possession with the intent to sell alcoholic beverages both by the drink for consumption on the licensed premises and in unbroken packages, including growlers, for consumption and not for resale off the licensed premises; (3) "growler" means a clean, refillable, resealable container that has a liquid capacity that does not exceed one gallon and that is intended and used for the sale of beer, wine or cider; and(4) "liquor license holder" means a person that holds a retailer's license issued pursuant to Section 60-6A-2 NMSA 1978, a dispenser's license issued pursuant to Section 60-6A-3 NMSA 1978 or a dispenser's license issued pursuant to Section 60-6A-12 NMSA 1978 issued prior to July 1, 2021.History: Laws 2021, ch. 7, § 3. ANNOTATIONSEffective dates. — Laws 2021, ch. 7, § 37 made Laws 2021, ch. 7, § 3 effective July 1, 2021.
NM Stat § 7-9A-1 (2021)
2021 New Mexico Statutes|Chapter 7 - Taxation|Article 9A - Investment Credit|Section 7-9A-1 - Short title.

Chapter 7, Article 9A NMSA 1978 may be cited as the "Investment Credit Act". History: Laws 1979, ch. 347, § 1; 1991, ch. 159, § 1; 1991, ch. 162, § 1. ANNOTATIONSThe 1991 amendment, effective June 14, 1991, substituted "Chapter 7, Article 9A NMSA 1978" for "Sections 1 through 11 of this Act". Laws 1991, ch. 159, § 1 enacted identical amendments to this section. The section was set out as amended by Laws 1991, ch. 162, § 1. See 12-1-8 NMSA 1978. Law reviews. — For article, "New Mexico Taxes: Taking Another Look," see 32 N.M.L. Rev. 351 (2002).
NM Stat § 7-9A-2 (2021)
2021 New Mexico Statutes|Chapter 7 - Taxation|Article 9A - Investment Credit|Section 7-9A-2 - Purpose of act.

It is the purpose of the Investment Credit Act to provide a favorable tax climate for manufacturing businesses and to promote increased employment in New Mexico. History: Laws 1979, ch. 347, § 2; 1983, ch. 206, § 1.
NM Stat § 7-9A-2.1 (2021)
2021 New Mexico Statutes|Chapter 7 - Taxation|Article 9A - Investment Credit|Section 7-9A-2.1 - Legislative oversight.

The interim revenue stabilization and tax policy committee during the 2005 interim shall conduct a review of the use of the investment credit and the effectiveness of the credit in meeting the state's economic development and tax policy objectives. Following the study, the committee shall determine whether changes are necessary in the Investment Credit Act and report its findings and recommendations to the second session of the forty-seventh legislature. History: Laws 2001, ch. 57, § 2 and Laws 2001, ch. 337, § 2. ANNOTATIONSDuplicate laws. — Laws 2001, ch. 57, § 2 and Laws 2001, ch. 337, § 2, both effective June 15, 2001, enacted identical sections.
NM Stat § 7-9A-4 (2021)
2021 New Mexico Statutes|Chapter 7 - Taxation|Article 9A - Investment Credit|Section 7-9A-4 - Administration of the act.

The department is charged with the administration of the Investment Credit Act. History: Laws 1979, ch. 347, § 4; 1991, ch. 159, § 3; 1991, ch. 162, § 3. ANNOTATIONSThe 1991 amendment, effective June 14, 1991, substituted "department" for "division". Laws 1991, ch. 159, § 3 enacted identical amendments to this section. The section was set out as amended by Laws 1991, ch. 162, § 3. See 12-1-8 NMSA 1978.