reglab/housing_qa huggingface dataset:
NM Stat § 7-9A-5 (2021)
2021 New Mexico Statutes|Chapter 7 - Taxation|Article 9A - Investment Credit|Section 7-9A-5 - Investment credit; amount; claimant.

A. The investment credit provided for in the Investment Credit Act may be claimed by a taxpayer carrying on a manufacturing operation in New Mexico in an amount equal to:(1) the product of the sum of the compensating tax rate and, beginning July 1, 2021, any municipal or county compensating tax rate multiplied by the value of the qualified equipment; or(2) if the sale is subject to the gross receipts tax, the product of the sum of the gross receipts tax rate and, beginning July 1, 2021, any municipal or county local option gross receipts tax rates multiplied by the seller's gross receipts from the sale of the qualified equipment.B. If the purchase or the introduction into New Mexico of the qualified equipment is not subject to the gross receipts tax or compensating tax, the rate to determine the amount of the credit shall be equal to a rate of five and one-eighth percent.History: Laws 1979, ch. 347, § 5; 1983, ch. 206, § 3; 1990, ch. 3, § 2; 1991, ch. 159, § 4; 1991, ch. 162, § 4; 2020, ch. 80, § 7. ANNOTATIONSCompiler's notes. — Laws 1991, ch. 159, § 8 and Laws 1991, ch. 162, § 8, effective June 14, 1991, repealed 7-9A-5 NMSA 1978, as enacted by Laws 1990, ch. 3, § 3, which was to become effective on January 1, 1994. The 2020 amendment, effective July 1, 2020, included a calculation for the investment credit if the sale of qualified equipment for which the credit is allowed is subject to the gross receipts tax and if the qualified equipment is not subject to the gross receipts tax or the compensating tax; in Subsection A, in the introductory clause, after "Investment Credit Act", deleted "is an" and added "may be claimed by a taxpayer carrying on a manufacturing operation in New Mexico in an", after "amount equal to", deleted "the percent of", in Paragraph A(1), after the first occurrence of "the", added "product of the sum of the", after "compensating tax rate", deleted "provided for in the Gross Receipts and Compensating Tax Act applied to" and added "and, beginning July 1, 2021, any municipal or county compensating tax rate multiplied by", and after "qualified equipment", deleted "and may be claimed by the taxpayer carrying on a manufacturing operation in New Mexico", and added Paragraph A(2); and added Subsection B.The 1991 amendment, effective June 14, 1991, deleted former Subsections B and C, relating to limitations on claims for investment credit, and made a related stylistic change. Laws 1991, ch. 159, § 4 enacted identical amendments to this section. The section was set out as amended by Laws 1991, ch. 162, § 4. See 12-1-8 NMSA 1978.
NM Stat § 7-9A-6 (2021)
2021 New Mexico Statutes|Chapter 7 - Taxation|Article 9A - Investment Credit|Section 7-9A-6 - Qualified equipment.

Equipment not previously used in New Mexico and not previously approved for a credit under the Investment Credit Act that is owned by the taxpayer or owned by the United States or an agency or instrumentality thereof or the state or a political subdivision thereof and leased or subleased to the taxpayer is qualified equipment if it is in New Mexico and is incorporated or to be incorporated within one year into a manufacturing operation. History: Laws 1979, ch. 347, § 6; 1983, ch. 206, § 4; 1990, ch. 3, § 4. ANNOTATIONSCross references. — For definition of "equipment", see 7-9A-3B NMSA 1978. The 1990 amendment, effective January 1, 1991, rewrote this section which read: "Equipment not previously used in New Mexico which is owned and used by a taxpayer in a manufacturing process in New Mexico is qualified equipment if it is incorporated into a manufacturing operation and if the taxpayer does not claim the credit pursuant to Section 7-9-79 NMSA 1978."
NM Stat § 7-9A-7 (2021)
2021 New Mexico Statutes|Chapter 7 - Taxation|Article 9A - Investment Credit|Section 7-9A-7 - Value of qualified equipment.

Prior to July 1, 2030, the value of qualified equipment shall be the adjusted basis established for the equipment under the applicable provisions of the Internal Revenue Code of 1986. History: Laws 1979, ch. 347, § 7; 1983, ch. 206, § 5; 1990, ch. 3, § 5; 1991, ch. 159, § 5; 1991, ch. 162, § 5; 2001, ch. 57, § 3; 2001, ch. 337, § 3; 2009, ch. 147, § 2; 2020, ch. 80, § 8. ANNOTATIONSCross references. — For the Internal Revenue Code of 1986, see 26 U.S.C.S. § 1 et seq. Compiler's notes. — Laws 1999, ch. 36, § 1 amended Laws 1990, ch. 3, § 10, as amended by Laws 1992, ch. 17, § 1, Laws 1992, ch. 104, § 1, and Laws 1997, ch. 62, § 3, to change the effective date of Laws 1990, ch. 3, § 6 from January 1, 2000 to January 1, 2004. Laws 2001, ch. 57, § 7 and Laws 2001, ch. 337, § 7 repealed Laws 1990, ch. 3, § 6, which would have been effective January 1, 2004 as provided by Laws 1999, ch. 36, § 1, effective June 15, 2001. The 2020 amendment, effective July 1, 2020, extended the date for valuing qualified equipment as the adjusted basis established for the equipment under the Internal Revenue Code, and removed the two million dollar limit on the value of equipment; after "July 1", deleted "2020" and added "2030"; and deleted former Subsection B.The 2009 amendment, effective June 19, 2009, in Subsections A and B, changed "July 1, 2011" to "July 1, 2020". The 2001 amendment, effective June 15, 2001, inserted the Subsection A designation; added "Prior to July 1, 2011" to Subsection A; and added Subsection B. The 1991 amendment, effective June 14, 1991, rewrote this section which read "The value of qualified equipment shall be the purchase price of the equipment unless the equipment is introduced into New Mexico and has been owned for more than one year prior to its introduction into New Mexico by the taxpayer applying for the credit, in which case the value shall be the reasonable value of the equipment at the time of its introduction into New Mexico." The 1990 amendment, effective January 1, 1991, deleted "provided that no taxpayer shall for any taxable year claim a value of qualified equipment greater than two million dollars ($2,000,000)" at the end of the section.
NM Stat § 7-9A-9 (2021)
2021 New Mexico Statutes|Chapter 7 - Taxation|Article 9A - Investment Credit|Section 7-9A-9 - Credit claim forms.

The department shall provide credit claim forms. A credit claim shall accompany any return to which the taxpayer wishes to apply an approved credit, and the claim shall specify the amount of credit intended to apply to each return. History: Laws 1979, ch. 347, § 9; 1991, ch. 159, § 7; 1991, ch. 162, § 7. ANNOTATIONSThe 1991 amendment, effective June 14, 1991, substituted "department" for "division" in the first sentence and "shall" for "must" in two places in the second sentence. Laws 1991, ch. 159, § 7 enacted identical amendments to this section. The section was set out as amended by Laws 1991, ch. 162, § 7. See 12-1-8 NMSA 1978.
NM Stat § 7-9A-10 (2021)
2021 New Mexico Statutes|Chapter 7 - Taxation|Article 9A - Investment Credit|Section 7-9A-10 - Repealed.

ANNOTATIONSRepeals. — Laws 1981, ch. 177, § 1, repealed 7-9A-10 NMSA 1978, relating to the inapplicability of the Investment Credit Act for equipment introduced or purchased after January 1, 1982, effective June 19, 1981.
NM Stat § 7-9A-11 (2021)
2021 New Mexico Statutes|Chapter 7 - Taxation|Article 9A - Investment Credit|Section 7-9A-11 - Transition provisions.

A. The provisions of this section apply on the date that changes to the provisions in the Investment Credit Act become effective limiting the amount of qualified equipment that may be claimed and increasing the employment requirements with respect to qualified equipment. B. The amount of any available credit unclaimed on the effective date of the changes described in Subsection A of this section may be claimed, until exhausted, in accordance with the provisions of Section 7-9A-8 NMSA 1978 immediately prior to the effective date of the changes described in Subsection A of this section. C. After the effective date described in Subsection A of this section, the department shall approve claims submitted prior to that effective date but not approved by that effective date if the claim meets the requirements of the Investment Credit Act in effect immediately prior to that effective date. The claimant may claim the amount of any available credit so approved in accordance with the provisions of Section 7-9A-8 NMSA 1978 immediately prior to the effective date of the event described in Subsection A of this section. D. After the effective date of the changes described in Subsection A of this section, a claimant may submit and the department shall approve claims submitted on or after that effective date if the claim is with respect to qualified equipment located in the state prior to that effective date that otherwise meets the requirements of the Investment Credit Act in effect immediately prior to that effective date. The claimant may claim the amount of any available credit so approved in accordance with the provisions of Section 7-9A-8 NMSA 1978 immediately prior to the effective date of the changes described in Subsection A of this section. E. After the effective date of the changes described in Subsection A of this section, the department may approve claims submitted on or after that effective date with respect to equipment not located in the state until after that effective date only in accordance with the provisions of the Investment Credit Act in effect after that effective date. History: Laws 1997, ch. 62, § 2. ANNOTATIONSEffective dates. — Laws 1997, ch. 62 contained no effective date provision, but, pursuant to N.M. Const., art. IV, § 23, was effective June 20, 1997, 90 days after the adjournment of the legislature.
NM Stat § 7-9B-1 (2021)
2021 New Mexico Statutes|Chapter 7 - Taxation|Article 9B - Filmmaker's Credit (Repealed.)|Section 7-9B-1 - Repealed.

ANNOTATIONSRepeals. — Laws 1995, ch. 80, § 2, repealed 7-9B-1, as enacted by Laws 1992, ch. 47, § 1, relating to the short title of the Filmmaker's Credit Act, effective July 1, 1996. For provisions of former sections, see the 1994 NMSA 1978 on NMOneSource.com.
NM Stat § 7-9B-2 (2021)
2021 New Mexico Statutes|Chapter 7 - Taxation|Article 9B - Filmmaker's Credit (Repealed.)|Section 7-9B-2 - Repealed.

ANNOTATIONSRepeals. — Laws 1995, ch. 80, § 2, repealed 7-9B-2, as enacted by Laws 1992, ch. 47, § 2, relating to the purpose of the Filmmaker's Credit Act, effective July 1, 1996. For provisions of former sections, see the 1994 NMSA 1978 on NMOneSource.com.
NM Stat § 7-9B-3 (2021)
2021 New Mexico Statutes|Chapter 7 - Taxation|Article 9B - Filmmaker's Credit (Repealed.)|Section 7-9B-3 - Repealed.

ANNOTATIONSRepeals. — Laws 1995, ch. 80, § 2, repealed 7-9B-3, as enacted by Laws 1992, ch. 47, § 3, relating to definitions of the Filmmaker's Credit Act, effective July 1, 1996. For provisions of former sections, see the 1994 NMSA 1978 on NMOneSource.com.
NM Stat § 7-9B-4 (2021)
2021 New Mexico Statutes|Chapter 7 - Taxation|Article 9B - Filmmaker's Credit (Repealed.)|Section 7-9B-4 - Repealed.

ANNOTATIONSRepeals. — Laws 1995, ch. 80, § 2, repealed 7-9B-4, as enacted by Laws 1992, ch. 47, § 4, relating to filmmaker's credit, amount, effective July 1, 1996. For provisions of former sections, see the 1994 NMSA 1978 on NMOneSource.com.
NM Stat § 7-9B-5 (2021)
2021 New Mexico Statutes|Chapter 7 - Taxation|Article 9B - Filmmaker's Credit (Repealed.)|Section 7-9B-5 - Repealed.

ANNOTATIONSRepeals. — Laws 1995, ch. 80, § 2, repealed 7-9B-5, as enacted by Laws 1992, ch. 47, § 5, relating to qualifying and applying for the filmmaker's credit, effective July 1, 1996. For provisions of former sections, see the 1994 NMSA 1978 on NMOneSource.com.
NM Stat § 7-9B-6 (2021)
2021 New Mexico Statutes|Chapter 7 - Taxation|Article 9B - Filmmaker's Credit (Repealed.)|Section 7-9B-6 - Repealed.

ANNOTATIONSRepeals. — Laws 1995, ch. 80, § 2, repealed 7-9B-6, as enacted by Laws 1992, ch. 47, § 6, relating to application of filmmaker's credit to tax liability, effective July 1, 1996. For provisions of former sections, see the 1994 NMSA 1978 on NMOneSource.com.
NM Stat § 7-9B-7 (2021)
2021 New Mexico Statutes|Chapter 7 - Taxation|Article 9B - Filmmaker's Credit (Repealed.)|Section 7-9B-7 - Repealed.

ANNOTATIONSRepeals. — Laws 1995, ch. 80, § 2, repealed 7-9B-7, as enacted by Laws 1992, ch. 47, § 7, relating to administration of the Filmmaker's Credit Act, effective July 1, 1996. For provisions of former sections, see the 1994 NMSA 1978 on NMOneSource.com.
NM Stat § 7-9C-1 (2021)
2021 New Mexico Statutes|Chapter 7 - Taxation|Article 9C - Interstate Telecommunications Gross Receipts Tax|Section 7-9C-1 - Short title.

Chapter 7, Article 9C NMSA 1978 may be cited as the "Interstate Telecommunications Gross Receipts Tax Act". History: Laws 1992, ch. 50, § 1 and Laws 1992, ch. 67, § 1; 1993, ch. 30, § 15. ANNOTATIONSThe 1993 amendment, effective June 18, 1993, substituted "Chapter 7, Article 9C NMSA 1978" for "Sections 1 through 11 of this act".
NM Stat § 7-9C-3 (2021)
2021 New Mexico Statutes|Chapter 7 - Taxation|Article 9C - Interstate Telecommunications Gross Receipts Tax|Section 7-9C-3 - Imposition and rate of tax; denomination as interstate telecommunications gross receipts tax.

A. For the privilege of engaging in interstate telecommunications business, an excise tax equal to four and one-fourth percent of interstate telecommunications gross receipts is imposed upon any person engaging in interstate telecommunications business in New Mexico. B. The tax imposed by this section shall be referred to as the "interstate telecommunications gross receipts tax". History: Laws 1992, ch. 50, § 3 and Laws 1992, ch. 67, § 3. ANNOTATIONSDuplicate laws. — Laws 1992, ch. 50, § 3 and Laws 1992, ch. 67, § 3 enacted identical versions of this section, effective July 1, 1992.
NM Stat § 7-9C-4 (2021)
2021 New Mexico Statutes|Chapter 7 - Taxation|Article 9C - Interstate Telecommunications Gross Receipts Tax|Section 7-9C-4 - Presumption of taxability.

A. To prevent evasion of the interstate telecommunications gross receipts tax and to aid in its administration, it is presumed that all receipts of a person engaging in interstate telecommunications business are subject to the interstate telecommunications gross receipts tax. B. If receipts from nontaxable charges for mobile telecommunications services are aggregated with and not separately stated from taxable charges for mobile telecommunications services, then the charges for nontaxable mobile telecommunications services shall be subject to interstate telecommunications gross receipts tax unless the home service provider can reasonably identify nontaxable charges in its books and records that are kept in the regular course of business. History: Laws 1992, ch. 50, § 4 and Laws 1992, ch. 67, § 4; 2002, ch. 18, § 5. ANNOTATIONSThe 2002 amendment, effective August 1, 2002, added the Subsection A designation; and added Subsection B.
NM Stat § 7-9C-5 (2021)
2021 New Mexico Statutes|Chapter 7 - Taxation|Article 9C - Interstate Telecommunications Gross Receipts Tax|Section 7-9C-5 - Date payment due.

The interstate telecommunications gross receipts tax is to be paid to the department on or before the twenty-fifth day of the month following the month in which the taxable event occurs. History: Laws 1992 ch. 50, § 5 and Laws 1992, ch. 67, § 5. ANNOTATIONSDuplicate laws. — Laws 1992, ch. 50, § 5 and Laws 1992, ch. 67, § 5 enacted identical versions of this section, effective July 1, 1992.
NM Stat § 7-9C-6 (2021)
2021 New Mexico Statutes|Chapter 7 - Taxation|Article 9C - Interstate Telecommunications Gross Receipts Tax|Section 7-9C-6 - Deduction; certain telephone services.

Receipts from the provision of wide-area telephone service and private communications service in this state may be deducted from interstate telecommunications gross receipts. History: Laws 1992, ch. 50, § 6 and Laws 1992, ch. 67, § 6; 1993, ch. 30, § 17. ANNOTATIONSThe 1993 amendment, effective June 18, 1993, substituted "Deduction" for "Exemption" in the section heading; and rewrote this section, which read "Exempted from the interstate telecommunications gross receipts tax are receipts from the provision of wide-area telephone service and private communications service."
NM Stat § 7-9C-7 (2021)
2021 New Mexico Statutes|Chapter 7 - Taxation|Article 9C - Interstate Telecommunications Gross Receipts Tax|Section 7-9C-7 - Deduction; sale of a service for resale.

A. Receipts from providing an interstate telecommunications service in this state that will be used by other persons in providing telephone or telegraph services to the final user may be deducted from interstate telecommunications gross receipts if the sale is made to a person who is subject to the interstate telecommunications gross receipts tax or to the gross receipts tax or the compensating tax. B. Receipts during the period July 1, 1998 through June 30, 2000 from providing leased telephone lines, telecommunications services, internet access services or computer programming that will be used by other persons in providing internet access and related services to the final user may be deducted from interstate telecommunications gross receipts if the sale is made to a person who is subject to the interstate telecommunications gross receipts tax, the gross receipts tax or the compensating tax. History: Laws 1992, ch. 50, § 7 and Laws 1992, ch. 67, § 7; 1998, ch. 92, § 6. ANNOTATIONSThe 1998 amendment, effective July 1, 1998, designated Subsection A, and added Subsection B.
NM Stat § 7-9C-8 (2021)
2021 New Mexico Statutes|Chapter 7 - Taxation|Article 9C - Interstate Telecommunications Gross Receipts Tax|Section 7-9C-8 - Deductions; telecommunications providers.

A. Receipts from interstate telecommunications services that are provided by a corporation to itself or to an affiliated corporation may be deducted from interstate telecommunications gross receipts. B. For the purposes of this section: (1) "affiliated corporation" means a corporation that directly or indirectly through one or more intermediaries controls, is controlled by or is under common control with the subject corporation; and (2) "control" means ownership of stock in a corporation that represents at least eighty percent of the total voting power of the corporation and has a value equal to at least eighty percent of the total value of the stock of that corporation. History: Laws 1992, ch. 50, § 8 and Laws 1992, ch. 67, § 8; 1993, ch. 30, § 18. ANNOTATIONSThe 1993 amendment, effective June 18, 1993, inserted "interstate telecommunications" in Subsection A.
NM Stat § 7-9C-9 (2021)
2021 New Mexico Statutes|Chapter 7 - Taxation|Article 9C - Interstate Telecommunications Gross Receipts Tax|Section 7-9C-9 - Deduction; bad debts.

Refunds and allowances made to buyers of interstate telecommunications services or amounts written off the books as an uncollectible debt by a person reporting interstate telecommunications gross receipts tax on an accrual basis may be deducted from interstate telecommunications gross receipts. If debts reported as uncollectible are subsequently collected, such receipts shall be included in interstate telecommunications gross receipts in the month of collection. History: Laws 1992, ch. 50, § 9 and Laws 1992, ch. 67, § 9. ANNOTATIONSDuplicate laws. — Laws 1992, ch. 50, § 9 and Laws 1992, ch. 67, § 9 enacted identical versions of this section, effective July 1, 1992.
NM Stat § 7-9C-10 (2021)
2021 New Mexico Statutes|Chapter 7 - Taxation|Article 9C - Interstate Telecommunications Gross Receipts Tax|Section 7-9C-10 - Credit; services performed outside the state.

To prevent actual multi-jurisdictional taxation of the privilege of engaging in business of providing interstate telecommunications services, any taxpayer, upon proof that the taxpayer has paid a sales, use, gross receipts or similar tax on the same interstate telecommunications gross receipts subject to the interstate telecommunications gross receipts tax, shall be allowed a credit against the interstate telecommunications gross receipts tax to the extent of the amount of sales, use, gross receipts or similar tax properly due and paid to such other state or political subdivision of that state. History: Laws 1992, ch. 50, § 10 and Laws 1992, ch. 67, § 10. ANNOTATIONSDuplicate laws. — Laws 1992, ch. 50, § 10 and Laws 1992, ch. 67, § 10 enacted identical versions of this section, effective July 1, 1992.
NM Stat § 7-9C-11 (2021)
2021 New Mexico Statutes|Chapter 7 - Taxation|Article 9C - Interstate Telecommunications Gross Receipts Tax|Section 7-9C-11 - Administration.

A. The department shall interpret the provisions of the interstate telecommunications gross receipts tax. B. The department shall administer and enforce the collection of the interstate telecommunications gross receipts tax, and the Tax Administration Act [Chapter 7, Article 1 NMSA 1978] applies to the administration and enforcement of the tax. History: Laws 1992, ch. 50, § 11 and Laws 1992, ch. 67, § 11. ANNOTATIONSDuplicate laws. — Laws 1992, ch. 50, § 11 and Laws 1992, ch. 67, § 11 enacted identical versions of this section, effective July 1, 1992.
NM Stat § 7-9D-1 (2021)
2021 New Mexico Statutes|Chapter 7 - Taxation|Article 9D - Capital Equipment Tax Credit (Repealed.)|Section 7-9D-1 - Repealed.

History: Laws 1999, ch. 178, § 1. ANNOTATIONSRepeals. — Laws 1999, ch. 178, § 10 repealed 7-9D-1 NMSA 1978, as enacted by Laws 1999, ch. 178, § 1, relating to the short title of the Capital Equipment Tax Credit Act, effective July 1, 2004. For provisions of former section, see the 2003 NMSA 1978 on NMOneSource.com.
NM Stat § 7-9D-2 (2021)
2021 New Mexico Statutes|Chapter 7 - Taxation|Article 9D - Capital Equipment Tax Credit (Repealed.)|Section 7-9D-2 - Repealed.

History: Laws 1999, ch. 178, § 2. ANNOTATIONSRepeals. — Laws 1999, ch. 178, § 10 repealed 7-9D-2 NMSA 1978, as enacted by Laws 1999, ch. 178, § 2, relating to findings and purpose of the Capital Equipment Tax Credit Act, effective July 1, 2004. For provisions of former section, see the 2003 NMSA 1978 on NMOneSource.com.
NM Stat § 7-9D-3 (2021)
2021 New Mexico Statutes|Chapter 7 - Taxation|Article 9D - Capital Equipment Tax Credit (Repealed.)|Section 7-9D-3 - Repealed.

History: Laws 1999, ch. 178, § 3. ANNOTATIONSRepeals. — Laws 1999, ch. 178, § 10 repealed 7-9D-3 NMSA 1978, as enacted by Laws 1999, ch. 178, § 3, relating to definitions of the Capital Equipment Tax Credit Act, effective July 1, 2004. For provisions of former section, see the 2003 NMSA 1978 on NMOneSource.com.
NM Stat § 7-9D-4 (2021)
2021 New Mexico Statutes|Chapter 7 - Taxation|Article 9D - Capital Equipment Tax Credit (Repealed.)|Section 7-9D-4 - Repealed.

History: Laws 1999, ch. 178, § 4. ANNOTATIONSRepeals. — Laws 1999, ch. 178, § 10 repealed 7-9D-4 NMSA 1978, as enacted by Laws 1999, ch. 178, § 4, relating to the capital equipment tax credit, effective July 1, 2004. For provisions of former section, see the 2003 NMSA 1978 on NMOneSource.com.
NM Stat § 7-9D-5 (2021)
2021 New Mexico Statutes|Chapter 7 - Taxation|Article 9D - Capital Equipment Tax Credit (Repealed.)|Section 7-9D-5 - Repealed.

History: Laws 1999, ch. 178, § 5. ANNOTATIONSRepeals. — Laws 1999, ch. 178, § 10 repealed 7-9D-5 NMSA 1978, as enacted by Laws 1999, ch. 178, § 5, relating to capital equipment eligible for tax credit, effective July 1, 2004. For provisions of former section, see the 2003 NMSA 1978 on NMOneSource.com.
NM Stat § 7-9D-6 (2021)
2021 New Mexico Statutes|Chapter 7 - Taxation|Article 9D - Capital Equipment Tax Credit (Repealed.)|Section 7-9D-6 - Repealed.

History: Laws 1999, ch. 178, § 6. ANNOTATIONSRepeals. — Laws 1999, ch. 178, § 10 repealed 7-9D-6 NMSA 1978, as enacted by Laws 1999, ch. 178, § 6, relating to eligible call center criteria, effective July 1, 2004. For provisions of former section, see the 2003 NMSA 1978 on NMOneSource.com.