reglab/statecodes huggingface dataset:
2023 New Mexico Statutes › Chapter 7 - Taxation › Article 9 - Gross Receipts and Compensating Tax › Section 7-9-94 - Deduction; gross receipts; military transformational acquisition programs.

A. Receipts from transformational acquisition programs performing research and development, test and evaluation at New Mexico major range and test facility bases pursuant to contracts entered into with the United States department of defense may be deducted from gross receipts through June 30, 2025.
B. As used in this section, "transformational acquisition program" means a military acquisition program authorized by the office of the secretary of defense force transformation and not physically tested in New Mexico on or before July 1, 2005.
C. The deduction provided in this section does not apply to receipts of a prime contractor operating facilities designated as a national laboratory by act of congress and is not applicable to current force programs as of July 1, 2005.
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. No later than December 1 of each year that the deduction is in effect, the department shall compile and present the annual report to the revenue stabilization and tax policy committee and the legislative finance committee with an analysis of the cost and benefit to the state of the deduction.
History:
Laws 2005, ch. 104, § 23; 2006, ch. 72, § 1; 2015, ch. 18, § 1.
ANNOTATIONS
The 2015 amendment,
effective June 19, 2015, amended the Gross Receipts and Compensating Tax Act by deferring the expiration date of the deduction from gross receipts for certain military acquisition programs and required the taxation and revenue department to compile an annual report on the deduction provided by this section; in Subsection A, deleted "2016" and added "2025"; and added Subsection D.
The 2006 amendment,
effective May 17, 2006, changed the expiration date from June 30, 2008 to June 30, 2016.
2023 New Mexico Statutes › Chapter 7 - Taxation › Article 9 - Gross Receipts and Compensating Tax › Section 7-9-95 - Deduction; gross receipts tax; sales of certain tangible personal property; limited period.

Receipts from the sale at retail of the following types of tangible personal property may be deducted if the sale of the property occurs during the period beginning at 12:01 a.m. on the first Friday in August and ending at midnight on the following Sunday:
A. an article of clothing or footwear designed to be worn on or about the human body if the sales price of the article is less than one hundred dollars ($100) except:
(1) any special clothing or footwear that is primarily designed for athletic activity or protective use and that is not normally worn except when used for the athletic activity or protective use for which it is designed; and
(2) accessories, including jewelry, handbags, luggage, umbrellas, wallets, watches and similar items worn or carried on or about the human body, without regard to whether worn on the body in a manner characteristic of clothing;
B. a desktop, laptop or notebook computer if the sales price of the computer does not exceed one thousand dollars ($1,000) and any associated monitor, speaker or set of speakers, printer, keyboard, microphone or mouse if the sales price of the device does not exceed five hundred dollars ($500); and
C. school supplies that are items normally used by students in a standard classroom for educational purposes, including notebooks, paper, writing instruments, crayons, art supplies, rulers, book bags, backpacks, handheld calculators, maps and globes, but not including watches, radios, compact disc players, headphones, sporting equipment, portable or desktop telephones, copiers, office equipment, furniture or fixtures.
History:
Laws 2005, ch. 104, § 25.
ANNOTATIONS
Effective dates.
— Laws 2005, ch. 104, § 29 made Laws 2005, ch. 104, § 25 effective July 1, 2005.
2023 New Mexico Statutes › Chapter 7 - Taxation › Article 9 - Gross Receipts and Compensating Tax › Section 7-9-96 - Repealed.

History:
Laws 2005, ch. 104, § 26; repealed by Laws 2020, ch. 80, § 14.
ANNOTATIONS
Repeals.
— Laws 2020, ch. 80, § 14 repealed 7-9-96 NMSA 1978, as enacted by Laws 2005, ch. 104, § 26, relating to credit, gross receipts tax, governmental gross receipts tax, certain sales for resale, effective July 1, 2020. For provisions of former section,
see
the 2019 NMSA 1978 on
NMOneSource.com
.
2023 New Mexico Statutes › Chapter 7 - Taxation › Article 9 - Gross Receipts and Compensating Tax › Section 7-9-96.1 - Repealed.

History:
Laws 2007, ch. 361, § 7; repealed by Laws 2019, ch. 270, § 56.
ANNOTATIONS
Repeals.
— Laws 2019, ch. 270, § 56 repealed 7-9-96.1 NMSA 1978, as enacted by Laws 2007, ch. 361, § 7, relating to credit, gross receipts tax, receipts of certain hospitals, effective July 1, 2019. For provisions of former section,
see
the 2018 NMSA 1978 on
NMOneSource.com
.
2023 New Mexico Statutes › Chapter 7 - Taxation › Article 9 - Gross Receipts and Compensating Tax › Section 7-9-97 - Deduction; gross receipts tax; receipts from certain purchases by or on behalf of the state.

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.
2023 New Mexico Statutes › Chapter 7 - Taxation › Article 9 - Gross Receipts and Compensating Tax › Section 7-9-98 - Deduction; compensating tax; biomass-related equipment; biomass materials.

A. The value of a biomass boiler, gasifier, furnace, turbine-generator, storage facility, feedstock processing or drying equipment, feedstock trailer or interconnection transformer may be deducted in computing the compensating tax due.
B. The value of biomass materials used for processing into biopower, biofuels or biobased products may be deducted in computing the compensating tax due.
C. As used in this section:
(1) "biobased products" means products created from plant- or crop-based resources such as agricultural crops and crop residues, forestry, pastures and rangelands that are normally made from petroleum
(2) "biofuels" means biomass converted to liquid or gaseous fuels such as ethanol, methanol, methane and hydrogen;
(3) "biomass material" means organic material that is available on a renewable or recurring basis, including:
(a) forest-related materials, including mill residues, logging residues, forest thinnings, slash, brush, low commercial value materials or undesirable species, salt cedar and other phreatophyte or woody vegetation removed from river basins or watersheds and woody material harvested for the purpose of forest fire fuel reduction or forest health and watershed improvement;
(b) agricultural-related materials, including orchard trees, vineyard, grain or crop residues, including straws and stover, aquatic plants and agricultural processed co-products and waste products, including fats, oils, greases, whey and lactose;
(c) animal waste, including manure and slaughterhouse and other processing waste;
(d) solid woody waste materials, including landscape or right-of-way tree trimmings, range land maintenance residues, waste pallets, crates and manufacturing, construction and demolition wood wastes, excluding pressure-treated, chemically treated or painted wood wastes and wood contaminated with plastic;
(e) crops and trees planted for the purpose of being used to produce energy;
(f) landfill gas, wastewater treatment gas and biosolids, including organic waste byproducts generated during the wastewater treatment process; and
(g) segregated municipal solid waste, excluding tires and medical and hazardous waste; and
(4) "biopower" means biomass converted to produce electrical and thermal energy.
History:
Laws 2005, ch. 179, § 1.
ANNOTATIONS
Effective dates.
— Laws 2005, ch. 179 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.
2023 New Mexico Statutes › Chapter 7 - Taxation › Article 9 - Gross Receipts and Compensating Tax › Section 7-9-99 - Deduction; gross receipts tax; sale of engineering, architectural and new facility construction services used in construction of certain public health care facilities.

Receipts from selling an engineering, architectural or construction service used in the new facility construction of a sole community provider hospital [qualifying hospital] that is located in a federally designated health professional shortage area may be deducted from gross receipts if the sale of the engineering, architectural or construction service is made to a foundation or a nonprofit organization that:
A. has entered into a written agreement with a county to pay at least ninety-five percent of the costs of new facility construction of that sole community provider hospital [qualifying hospital]; and
B. delivers to the seller of the engineering, architectural or construction service either an appropriate nontaxable transaction certificate or other evidence acceptable to the secretary of a written agreement made in accordance with Subsection A of this section.
History:
Laws 2006, ch. 35, § 1.
ANNOTATIONS
Bracketed material.
— The bracketed material was inserted by the compiler and is not part of the law. Laws 2014, ch. 79, § 18 provided that all references in law to a sole community provider hospital shall be deemed to be references to a qualifying hospital pursuant to the Indigent Hospital and County Health Care Act, effective March 12, 2014.
Effective dates.
— Laws 2006, ch. 35, § 3 made Laws 2006, ch. 35, § 1 effective July 1, 2006.
2023 New Mexico Statutes › Chapter 7 - Taxation › Article 9 - Gross Receipts and Compensating Tax › Section 7-9-100 - Deduction; gross receipts tax; sale of construction equipment and construction materials used in new facility construction of a sole community provider hospital [qualifying hospital] that is located in a federally designated health professional shortage area.

Receipts from selling construction equipment or construction materials used in the new facility construction of a sole community provider hospital [qualifying hospital] that is located in a federally designated health professional shortage area may be deducted from gross receipts if the sale of the construction equipment or construction materials is made to a foundation or a nonprofit organization that:
A. has entered into a written agreement with a county to pay at least ninety-five percent of the costs of new facility construction of that sole community provider hospital [qualifying hospital]; and
B. delivers to the seller either an appropriate nontaxable transaction certificate or other evidence acceptable to the secretary of a written agreement made in accordance with Subsection A of this section.
History:
Laws 2006, ch. 35, § 2.
ANNOTATIONS
Bracketed material.
— The bracketed material was inserted by the compiler and is not part of the law. Laws 2014, ch. 79, § 18 provided that all references in law to a sole community provider hospital shall be deemed to be references to a qualifying hospital pursuant to the Indigent Hospital and County Health Care Act, effective March 12, 2014.
Effective dates.
— Laws 2006, ch. 35, § 3 made Laws 2006, ch. 35, § 2 effective July 1, 2006.
2023 New Mexico Statutes › Chapter 7 - Taxation › Article 9 - Gross Receipts and Compensating Tax › Section 7-9-101 - Deduction; gross receipts; equipment for certain electric transmission or storage facilities.

Receipts from selling equipment to the New Mexico renewable energy transmission authority or an agent or lessee of the authority may be deducted from gross receipts if the equipment is installed as part of an electric transmission facility or an interconnected storage facility acquired by the authority pursuant to the New Mexico Renewable Energy Transmission Authority Act [Chapter 62, Article 16A NMSA 1978].
History:
Laws 2007, ch. 3, § 16.
ANNOTATIONS
Effective date.
— Laws 2007, ch. 3, § 19 made Laws 2007, ch. 3, § 16 effective July 1, 2007.
2023 New Mexico Statutes › Chapter 7 - Taxation › Article 9 - Gross Receipts and Compensating Tax › Section 7-9-102 - Deduction; compensating tax; equipment for certain electric transmission or storage facilities.

The value of equipment installed as part of an electric transmission facility or an interconnected storage facility acquired by the New Mexico renewable energy transmission authority pursuant to the New Mexico Renewable Energy Transmission Authority Act [Chapter 62, Article 16A NMSA 1978] may be deducted in computing compensating tax due.
History:
Laws 2007, ch. 3, § 17.
ANNOTATIONS
Effective date.
— Laws 2007, ch. 3, § 19 made Laws 2007, ch. 3, § 17 effective July 1, 2007.
2023 New Mexico Statutes › Chapter 7 - Taxation › Article 9 - Gross Receipts and Compensating Tax › Section 7-9-103 - Deduction; gross receipts; services provided for certain electric transmission and storage facilities.

Receipts from providing services to the New Mexico renewable energy transmission authority or an agent or lessee of the authority for the planning, installation, repair, maintenance or operation of an electric transmission facility or an interconnected storage facility acquired by the authority pursuant to the New Mexico Renewable Energy Transmission Authority Act [Chapter 62, Article 16A NMSA 1978] may be deducted from gross receipts.
History:
Laws 2007, ch. 3, § 18.
ANNOTATIONS
Effective date.
— Laws 2007, ch. 3, § 19 made Laws 2007, ch. 3, § 18 effective July 1, 2007.
2023 New Mexico Statutes › Chapter 7 - Taxation › Article 9 - Gross Receipts and Compensating Tax › Section 7-9-103.1 - Deduction; gross receipts tax; converting electricity.

A. Receipts from the transmission of electricity where voltage source conversion technology is employed to provide such services and from ancillary services may be deducted from gross receipts.
B. The department shall report annually to the interim revenue stabilization and tax policy committee on the expansion of voltage source conversion technology use in the transmission of electricity in New Mexico and the use of the deduction provided in this section.
C. As used in this section, "ancillary services" means services that are supplied from or in connection with facilities employing voltage source conversion technology and that are used to support or enhance the efficient and reliable operation of the electric system.
History:
Laws 2012, ch. 12, § 2.
ANNOTATIONS
Effective dates.
— Laws 2012, ch. 12, § 4 made Laws 2012, ch. 12, § 2 effective July 1, 2012.
2023 New Mexico Statutes › Chapter 7 - Taxation › Article 9 - Gross Receipts and Compensating Tax › Section 7-9-103.2 - Deduction; gross receipts; electricity exchange.

A. Receipts from operating a market or exchange for the sale or trading of electricity, rights to electricity and derivative products and from providing ancillary services may be deducted from gross receipts.
B. The department shall report annually to the interim revenue stabilization and tax policy committee on use of the deduction provided in this section.
C. As used in this section, "ancillary services" means services that are supplied from or in connection with facilities employing voltage source conversion technology and that are used to support or enhance the efficient and reliable operation of the electric system.
History:
Laws 2012, ch. 12, § 3.
ANNOTATIONS
Effective dates.
— Laws 2012, ch. 12, § 4 made Laws 2012, ch. 12, § 3 effective July 1, 2012.
2023 New Mexico Statutes › Chapter 7 - Taxation › Article 9 - Gross Receipts and Compensating Tax › Section 7-9-104 - Deduction; gross receipts; nonathletic special event at post-secondary educational institution.

Prior to July 1, 2027, receipts from admissions to a nonathletic special event held at a venue that is located on the campus of a post-secondary educational institution within fifty miles of the New Mexico border and that accommodates at least ten thousand persons may be deducted from gross receipts or from governmental gross receipts.
History:
Laws 2007, ch. 33, § 1; 2012, ch. 22, § 1; 2017, ch. 46, § 1; 2022, ch. 50, § 1.
ANNOTATIONS
The 2022 amendment,
effective July 1, 2022, extended the deduction from gross receipts and governmental gross receipts for nonathletic special events at post-secondary educational institutions; and added "Prior to July 1, 2027", and after the next occurrence of "receipts", deleted "received from July 1, 2007 through June 30, 2022".
The 2017 amendment,
effective June 16, 2017, expanded the deduction from gross receipts tax to both gross receipts tax and governmental gross receipts tax, and extended the expiration date of the gross receipts and governmental gross receipts tax deduction for nonathletic special events at certain post-secondary educational institutions; after "June 30", changed "2017" to "2022", and after "may be deducted from gross receipts", added "or from governmental gross receipts".
The 2012 amendment,
effective May 16, 2012, extended the deduction for an additional five years and after "June 30", changed "2012" to "2017".
2023 New Mexico Statutes › Chapter 7 - Taxation › Article 9 - Gross Receipts and Compensating Tax › Section 7-9-105 - Repealed.

History:
Laws 2007, ch. 45, § 6; repealed by Laws 2023, ch. 85, § 28.
ANNOTATIONS
Repeals.
— Laws 2023, ch. 85, § 28 repealed 7-9-105 NMSA 1978, as enacted by Laws 2007, ch. 45, § 6, relating to credit for penalty pursuant to Section 7-1-71.2 NMSA 1978, effective July 1, 2023. For provisions of former section,
see
the 2022 NMSA 1978 on
NMOneSource.com
.
2023 New Mexico Statutes › Chapter 7 - Taxation › Article 9 - Gross Receipts and Compensating Tax › Section 7-9-106 - Repealed.

History:
Laws 2007, ch. 172, § 8; repealed and reenacted by Laws 2018, ch. 62, § 1; repealed by Laws 2023, ch. 85, § 28.
ANNOTATIONS
Repeals.
— Laws 2023, ch. 85, § 28 repealed 7-9-106 NMSA 1978, as enacted by Laws 2007, ch. 172, § 8, relating to deduction, construction services and equipment, effective July 1, 2023. For provisions of former section,
see
the 2022 NMSA 1978 on
NMOneSource.com
.
2023 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.
ANNOTATIONS
Effective dates.
— Laws 2007, ch. 172, § 30 made Laws 2007, ch. 172, § 9 effective July 1, 2007.
2023 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.
ANNOTATIONS
Cross 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.
2023 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.
ANNOTATIONS
Effective dates.
— Laws 2007, ch. 172, § 30 made Laws 2007, ch. 172, § 11 effective July 1, 2007.
2023 New Mexico Statutes › Chapter 7 - Taxation › Article 9 - Gross Receipts and Compensating Tax › Section 7-9-110 - Deleted.

History:
Laws 2007, ch. 172, § 12.
ANNOTATIONS
Compiler'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.
2023 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.
ANNOTATIONS
Compiler'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.
2023 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.
ANNOTATIONS
Compiler'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.
2023 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.
ANNOTATIONS
Effective dates.
— Laws 2007, ch. 361, § 11 made Laws 2007, ch. 361, § 6 effective July 1, 2007.
2023 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.
ANNOTATIONS
Effective 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.
2023 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.
ANNOTATIONS
Repeals.
— 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
.
2023 New Mexico Statutes › Chapter 7 - Taxation › Article 9 - Gross Receipts and Compensating Tax › Section 7-9-114 - Repealed.

History:
Laws 2010, ch. 77, § 1; 2010, ch. 78, § 1; 2011, ch. 115, § 1; repealed by Laws 2023, ch. 85, § 28.
ANNOTATIONS
Repeals.
— Laws 2023, ch. 85, § 28 repealed 7-9-114 NMSA 1978, as enacted by Laws 2010, ch. 77, § 1, relating to advanced energy deduction, gross receipts and compensating taxes, effective July 1, 2023. For provisions of former section,
see
the 2022 NMSA 1978 on
NMOneSource.com
.
2023 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.
ANNOTATIONS
The 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".
2023 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.
ANNOTATIONS
Effective dates.
— Laws 2021, ch. 7, § 37 made Laws 2021, ch. 7, § 3 effective July 1, 2021.
2023 New Mexico Statutes › Chapter 7 - Taxation › Article 9 - Gross Receipts and Compensating Tax › Section 7-9-120 - Deduction; gross receipts and governmental gross receipts; feminine hygiene products.

A. Receipts from the sale of feminine hygiene products may be deducted from gross receipts and governmental gross receipts.
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 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, "feminine hygiene products" means tampons, menstrual pads and sanitary napkins, pantiliners, menstrual sponges and menstrual cups.
History:
Laws 2022, ch. 47, § 15.
ANNOTATIONS
Effective dates.
— Laws 2022, ch. 47, § 17 made Laws 2022, ch. 47, § 15 effective July 1, 2022.
2023 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.
ANNOTATIONS
The 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).
2023 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.
ANNOTATIONS
Duplicate laws.
— Laws 2001, ch. 57, § 2 and Laws 2001, ch. 337, § 2, both effective June 15, 2001, enacted identical sections.
2023 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.
ANNOTATIONS
The 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.
2023 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.
ANNOTATIONS
Compiler'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.
2023 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.
ANNOTATIONS
Cross 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."
2023 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.
ANNOTATIONS
Cross 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.
2023 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.
ANNOTATIONS
The 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.
2023 New Mexico Statutes › Chapter 7 - Taxation › Article 9A - Investment Credit › Section 7-9A-10 - Repealed.

ANNOTATIONS
Repeals.
— 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.
2023 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.
ANNOTATIONS
Effective 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.
2023 New Mexico Statutes › Chapter 7 - Taxation › Article 9B - Filmmaker's Credit (Repealed.) › Section 7-9B-1 - Repealed.

ANNOTATIONS
Repeals.
— 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.