reglab/statecodes huggingface dataset:
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 2 - GROSS RECEIPTS TAXES › Part 239 - DEDUCTION - GROSS RECEIPTS TAX - FUNDRAISING › Section 3.2.239.6 - OBJECTIVE

Current through Register Vol. 35, No. 13, July 16, 2024
The objective of this part is to interpret, exemplify,
				  implement and enforce the provisions of the Gross Receipts and Compensating Tax
				  Act.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 2 - GROSS RECEIPTS TAXES › Part 239 - DEDUCTION - GROSS RECEIPTS TAX - FUNDRAISING › Section 3.2.239.7 - "FUNDRAISING EVENT" DEFINED

Current through Register Vol. 35, No. 13, July 16, 2024
A. For the purposes of Section
				7-9-85
				NMSA 1978 and subject to the limitation set forth in Part 3.2.239 NMAC, a
				"fundraising event" is an activity undertaken by an organization for the
				purpose of acquiring funds that will be used in the conduct of the
				organization's exempt activities. A fundraising event must be open to the
				public and not limited to members of the organization.
B. Example 1: A fraternal society operating
				under the lodge system, exempt from Federal income tax under Section 501(c)(10)
				of the Internal Revenue Code, conducts two fundraising events each calendar
				year to obtain the money necessary to purchase eyeglasses for underprivileged
				children. Each spring, they sell brooms to the general public. Each fall, they
				sell the services of their members to any person who wants assistance with
				house painting, gutter cleaning and similar household maintenance tasks. Both
				of these activities result in the organization receiving gross receipts and
				both qualify as fundraising events.
C. The solicitation of donations in itself,
				not connected with the sale or transfer of property or the performance of any
				service, is not a fundraising event and is not subject to the provisions of
				Section
				7-9-85
				NMSA 1978. Any event in which both the receipt of donations and the sale of
				tangible personal property or the performance of any service occur is a
				fundraising event.
D. Example 2: U,
				itself a 501(c)(3) organization, holds an annual fundraising drive for itself
				and thirty other 501(c) entities. U solicits the general population for
				donations but does not sell or transfer property to, nor perform services for,
				contributors. Each entity receives a fixed proportion of undesignated donations
				plus any donations designated for the entity. Ten of the entities are
				organizations qualifying for the deduction under Section
				7-9-85
				NMSA 1978. Because the fundraising activity consists solely of soliciting
				donations, none of the entities involved has conducted a fundraising event
				under Section
				7-9-85
				NMSA 1978.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 2 - GROSS RECEIPTS TAXES › Part 239 - DEDUCTION - GROSS RECEIPTS TAX - FUNDRAISING › Section 3.2.239.8 - CERTAIN ORGANIZATIONS NOT ELIGIBLE FOR DEDUCTION - "ORGANIZATION" DEFINED

Current through Register Vol. 35, No. 13, July 16, 2024
A. No
				organization described in Section 501(c)(3) of the Internal Revenue Code may
				claim the deduction provided by Section
				7-9-85
				NMSA 1978 but the receipts of 501(c)(3) organizations, except for unrelated
				business income, are exempt from gross receipts tax under Section
				7-9-29
				NMSA 1978.
B. As used in Part
				3.2.239 NMAC, "organization" means:
(1) any
				organization described in Section 501(c) of the Internal Revenue Code, other
				than organizations described in Section 501(c)(3); and
(2) any officially recognized chapter, lodge
				or similar affiliate of an organization described in Paragraph (1) of
				Subsection B of Section 3.2.239.8 NMAC of this section.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 2 - GROSS RECEIPTS TAXES › Part 239 - DEDUCTION - GROSS RECEIPTS TAX - FUNDRAISING › Section 3.2.239.9 - RECEIPTS NOT ELIGIBLE FOR DEDUCTION

Current through Register Vol. 35, No. 13, July 16, 2024
The deduction provided by Section
				  7-9-85
				  NMSA 1978 does not apply to the receipts from more than two (2) fundraising
				  events during any calendar year.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 2 - GROSS RECEIPTS TAXES › Part 239 - DEDUCTION - GROSS RECEIPTS TAX - FUNDRAISING › Section 3.2.239.10 - WHO CONDUCTS FUNDRAISING EVENT

Current through Register Vol. 35, No. 13, July 16, 2024
A. When several organizations jointly conduct
				a fundraising event, each participating organization receiving gross receipts
				from the event has conducted a fundraising event.
B. Example 1: A 501(c)(8) state organization
				and each of its four New Mexico lodges together conduct a fundraising event,
				with the proceeds shared by the state organization and the lodges. The state
				organization and each of its lodges have conducted a fundraising
				event.
C. The participation of
				members of one organization, even as an official activity of the organization,
				in a fundraising event of another is not a fundraising event of the members'
				organization if:
(1) the members' organization
				receives no revenues from the event; and
(2) the members' organization is not a
				chapter, lodge or other affiliate of any organization receiving revenues from
				the event.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 2 - GROSS RECEIPTS TAXES › Part 239 - DEDUCTION - GROSS RECEIPTS TAX - FUNDRAISING › Section 3.2.239.11 - PERIOD FOR FUNDRAISING EVENT LIMITED

Current through Register Vol. 35, No. 13, July 16, 2024
A. A fundraising event must be of limited
				duration. A recurring, regularly scheduled activity, or any portion of a
				regularly scheduled activity, is not a fundraising event and the receipts are
				not deductible under Section
				7-9-85
				NMSA 1978. A fundraising event must have a specific commencement date and a
				specific ending date. The period of time between the commencement and ending
				dates may not exceed ten (10) consecutive calendar days except:
(1) fundraising events conducted in
				association with and coterminous with the annual state fair may be conducted
				for the period in which the state fair is held;
(2) planning, contracting, advertising and
				other organizational or administrative activities may take place at any time
				before the specific commencement date;
(3) ticket sales to a fundraising event may
				precede the specific commencement date by up to sixty (60) days before the
				specific commencement date but the department, upon written application from
				the organization showing good cause, may permit a longer period; and
(4) final accounting and similar
				administrative tasks may be conducted after the specific ending date.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 2 - GROSS RECEIPTS TAXES › Part 239 - DEDUCTION - GROSS RECEIPTS TAX - FUNDRAISING › Section 3.2.239.12 - IDENTIFICATION OF FUNDRAISING EVENTS

Current through Register Vol. 35, No. 13, July 16, 2024
A. Each organization may deduct under Section
				7-9-85
				NMSA 1978 the receipts of two fundraising events conducted during a calendar
				year. If an organization conducts more than two fundraising events during a
				calendar year, the first two fundraising events will be presumed to be those
				qualifying for the deduction provided by Section
				7-9-85
				NMSA 1978 unless the organization has identified in writing in advance the two
				fundraising events for which the organization intends to claim the deduction
				prior to conducting any fundraising event during the calendar year.
B. Example 1: A civic league, exempt from
				federal income tax under Section 501(c)(4) of the Internal Revenue Code,
				sponsors the following activities each calendar year:
(1) a button sale on the second Sunday of
				February;
(2) an indoor track meet
				on the first Saturday of March;
(3)
				a fireworks display on the Saturday closest to July 4; and
(4) an art fair on the last weekend in
				September.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 2 - GROSS RECEIPTS TAXES › Part 240 - DEDUCTION - GROSS RECEIPTS TAX - RECEIPTS OF SALE OF FOOD AT RETAIL FOOD STORE › Section 3.2.240.1 - ISSUING AGENCY

Current through Register Vol. 35, No. 13, July 16, 2024
Taxation and Revenue Department, Joseph M. Montoya Building,
				  1100 South St. Francis Drive, P.O. Box 630, Santa Fe NM
				  87504-0630
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 2 - GROSS RECEIPTS TAXES › Part 240 - DEDUCTION - GROSS RECEIPTS TAX - RECEIPTS OF SALE OF FOOD AT RETAIL FOOD STORE › Section 3.2.240.2 - SCOPE

Current through Register Vol. 35, No. 13, July 16, 2024
This part applies to each person engaging in business in New
				  Mexico.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 2 - GROSS RECEIPTS TAXES › Part 240 - DEDUCTION - GROSS RECEIPTS TAX - RECEIPTS OF SALE OF FOOD AT RETAIL FOOD STORE › Section 3.2.240.3 - STATUTORY AUTHORITY

Current through Register Vol. 35, No. 13, July 16, 2024
Section
				  9-11-6.2
				  NMSA 1978.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 2 - GROSS RECEIPTS TAXES › Part 240 - DEDUCTION - GROSS RECEIPTS TAX - RECEIPTS OF SALE OF FOOD AT RETAIL FOOD STORE › Section 3.2.240.5 - EFFECTIVE DATE

Current through Register Vol. 35, No. 13, July 16, 2024
1/31/05, unless a later date is cited at the end of a
				  section, in which case the later date is the effective date.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 2 - GROSS RECEIPTS TAXES › Part 240 - DEDUCTION - GROSS RECEIPTS TAX - RECEIPTS OF SALE OF FOOD AT RETAIL FOOD STORE › Section 3.2.240.6 - OBJECTIVE

Current through Register Vol. 35, No. 13, July 16, 2024
The objective of this part is to interpret, exemplify,
				  implement and enforce the provisions of the Gross Receipts and Compensating Tax
				  Act.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 2 - GROSS RECEIPTS TAXES › Part 240 - DEDUCTION - GROSS RECEIPTS TAX - RECEIPTS OF SALE OF FOOD AT RETAIL FOOD STORE › Section 3.2.240.7 - DEFINITIONS: "FOOD", "RETAIL FOOD STORE" AND "HOME CONSUMPTION"

Current through Register Vol. 35, No. 13, July 16, 2024
For purposes of Section
				  7-9-92
				  NMSA 1978, the definitions of "food", "food retail store" and "home
				  consumption" are the definitions set forth in the federal Food Stamp Act of
				  1964, codified at
				  7 USC
				  2011 et seq., as amended or renumbered and
				  any regulations, rules and administrative materials promulgated thereunder, as
				  they may be amended or renumbered.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 2 - GROSS RECEIPTS TAXES › Part 240 - DEDUCTION - GROSS RECEIPTS TAX - RECEIPTS OF SALE OF FOOD AT RETAIL FOOD STORE › Section 3.2.240.8 - WHO IS A RETAIL FOOD STORE

Current through Register Vol. 35, No. 13, July 16, 2024
A. A taxpayer that is authorized to accept
				food stamps under the federal Food Stamp Act is presumed to be a retail food
				store for the purpose of Section
				7-9-92
				NMSA 1978 for tax periods during which the taxpayer is authorized to accept
				food stamps. A taxpayer that meets the definition of "retail food store" but
				does not participate in the federal food stamp program may qualify as a retail
				food store for the purpose of Section
				7-9-92
				NMSA 1978 if the secretary certifies that the taxpayer is a retail food store.
				A taxpayer seeking certification as a "retail food store" shall apply for
				certification in the manner and on forms as the secretary shall
				prescribe.
B. A taxpayer who is not
				authorized under the federal Food Stamp Act to accept food stamps, and who has
				not been certified as a food retail store by the secretary, is presumed not to
				be a food retail store.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 2 - GROSS RECEIPTS TAXES › Part 240 - DEDUCTION - GROSS RECEIPTS TAX - RECEIPTS OF SALE OF FOOD AT RETAIL FOOD STORE › Section 3.2.240.9 - EQUIVALENCE OF FOOD SALES FOR FOOD STAMP AND SECTION 7-9-92 NMSA 1978 PURPOSES

Current through Register Vol. 35, No. 13, July 16, 2024
Receipts from the sale of food for which a taxpayer could
				  have accepted food stamps are receipts from the sale of food for purposes of
				  Section
				  7-9-92
				  NMSA 1978.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 2 - GROSS RECEIPTS TAXES › Part 240 - DEDUCTION - GROSS RECEIPTS TAX - RECEIPTS OF SALE OF FOOD AT RETAIL FOOD STORE › Section 3.2.240.10 - RECEIPTS EXEMPT OR DEDUCTIBLE UNDER OTHER SECTIONS

Current through Register Vol. 35, No. 13, July 16, 2024
Taxpayers may not deduct under Section
				  7-9-92
				  NMSA receipts that may be exempted or deducted under other sections of the
				  Gross Receipts and Compensating Tax Act, including:
A. receipts of a government exempted from the
				gross receipts tax by Section
				7-9-13
				NMSA 1978;
B. receipts subject to
				the stadium surcharge but exempted from the gross receipts tax by Section
				7-9-13.3
				NMSA 1978;
C. receipts of a
				nonprofit entity from running facilities accommodating retired elderly persons
				exempted from the gross receipts tax by Section
				7-9-16
				NMSA 1978;
D. receipts from selling
				livestock and receipts of growers, producers, trappers and nonprofit marketing
				associations from selling livestock, live poultry, unprocessed agricultural
				products, pelts and hides exempted from the gross receipts tax by Section
				7-9-18
				NMSA 1978;
E. receipts from the
				lawful acceptance of food stamps exempted from the gross receipts tax by
				Section
				7-9-18.1
				NMSA 1978;
F. receipts of 501(c)(3)
				and 501(c)(6) organizations exempted by Section
				7-9-29
				NMSA 1978;
G. receipts of nonprofit
				organizations from registration fees exempted by Section
				7-9-39
				NMSA;
H. receipts from selling food
				to manufacturers that may be deducted under Section
				7-9-46
				NMSA 1978;
I. receipts from selling
				food for re-sale that may be deducted under Section
				7-9-47
				NMSA 1978;
J. receipts from selling
				food to governments that may be deducted under Section
				7-9-54
				NMSA 1978;
K. receipts from selling
				food in interstate commerce that may be deducted under Section
				7-9-55
				NMSA 1978;
L. receipts from selling
				food to 501(c)(3) organizations that may be deducted under Section
				7-9-60
				NMSA 1978;
M. receipts from selling
				food to credit unions that may be deducted under Section
				7-9-61.2
				NMSA 1978; and
N. receipts from
				selling food to an accredited foreign mission or accredited member of a foreign
				mission that may be deducted under Section
				7-9-89
				NMSA 1978.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 2 - GROSS RECEIPTS TAXES › Part 241 - DEDUCTION - GROSS RECEIPTS TAX - RECEIPTS OF HEALTH CARE PRACTITIONERS › Section 3.2.241.1 - ISSUING AGENCY

Current through Register Vol. 35, No. 13, July 16, 2024
Taxation and Revenue Department, Joseph M. Montoya Building,
				  1100 South St. Francis Drive, P.O. Box 630, Santa Fe NM
				  87504-0630
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 2 - GROSS RECEIPTS TAXES › Part 241 - DEDUCTION - GROSS RECEIPTS TAX - RECEIPTS OF HEALTH CARE PRACTITIONERS › Section 3.2.241.2 - SCOPE

Current through Register Vol. 35, No. 13, July 16, 2024
This part applies to each person engaging in business in New
				  Mexico.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 2 - GROSS RECEIPTS TAXES › Part 241 - DEDUCTION - GROSS RECEIPTS TAX - RECEIPTS OF HEALTH CARE PRACTITIONERS › Section 3.2.241.3 - STATUTORY AUTHORITY

Current through Register Vol. 35, No. 13, July 16, 2024
Section
				  9-11-6.2
				  NMSA 1978.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 2 - GROSS RECEIPTS TAXES › Part 241 - DEDUCTION - GROSS RECEIPTS TAX - RECEIPTS OF HEALTH CARE PRACTITIONERS › Section 3.2.241.5 - EFFECTIVE DATE

Current through Register Vol. 35, No. 13, July 16, 2024
4/29/05, unless a later date is cited at the end of a
				  section, in which case the later date is the effective date.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 2 - GROSS RECEIPTS TAXES › Part 241 - DEDUCTION - GROSS RECEIPTS TAX - RECEIPTS OF HEALTH CARE PRACTITIONERS › Section 3.2.241.6 - OBJECTIVE

Current through Register Vol. 35, No. 13, July 16, 2024
The objective of this part is to interpret, exemplify,
				  implement and enforce the provisions of the Gross Receipts and Compensating Tax
				  Act.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 2 - GROSS RECEIPTS TAXES › Part 241 - DEDUCTION - GROSS RECEIPTS TAX - RECEIPTS OF HEALTH CARE PRACTITIONERS › Section 3.2.241.7 - DEFINITIONS: "SCOPE OF PRACTICE" DEFINED

Current through Register Vol. 35, No. 13, July 16, 2024
As used in Section
				  7-9-93
				  NMSA 1978, the term "scope of practice" means the health care activities
				  authorized to be conducted by, or at the direction of, the health care
				  practitioner under a license granted to the health care practitioner by the
				  appropriate body under any of the acts specified under Paragraph (3) of
				  Subsection B of Section
				  7-9-93
				  NMSA 1978.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 2 - GROSS RECEIPTS TAXES › Part 241 - DEDUCTION - GROSS RECEIPTS TAX - RECEIPTS OF HEALTH CARE PRACTITIONERS › Section 3.2.241.8 - RECEIPTS DEDUCTIBLE UNDER OTHER SECTIONS

Current through Register Vol. 35, No. 13, July 16, 2024
Health care practitioners may not deduct under Section
				  7-9-93
				  NMSA 1978 receipts that are deductible under others sections of the Gross
				  Receipts and Compensating Tax Act. Receipts deductible under other sections
				  include:
A. receipts from the United
				States or an agent thereof under Part B of medicare (Title 18 of the federal
				Social Security Act); these receipts are deductible under Section
				7-9-77.1
				NMSA 1978;
B. receipts from a third
				party administrator of the federal TRICARE program; these receipts are
				deductible under Section
				7-9-77.1
				NMSA 1978; and
C. receipts from
				health care services sold to a hospital or other person for re-sale with
				respect to which the practitioner has accepted a Type 5 nontaxable transaction
				certificate executed by the buyer; these receipts are deductible under Section
				7-9-48
				NMSA 1978.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 2 - GROSS RECEIPTS TAXES › Part 241 - DEDUCTION - GROSS RECEIPTS TAX - RECEIPTS OF HEALTH CARE PRACTITIONERS › Section 3.2.241.9 - RECEIPTS FROM THIRD PARTY CLAIMS ADMINISTRATORS

Current through Register Vol. 35, No. 13, July 16, 2024
Payments by a third party claims administrator to a health
				  care practitioner for health care services rendered by the practitioner within
				  the scope of his or her practice and pursuant to a contract with a managed care
				  company or a health insurer that are otherwise deductible under Section
				  7-9-93
				  NMSA 1978 may be deducted from gross receipts. A third party claims
				  administrator is an entity that processes health care claims and performs
				  related business functions for a health plan.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 2 - GROSS RECEIPTS TAXES › Part 241 - DEDUCTION - GROSS RECEIPTS TAX - RECEIPTS OF HEALTH CARE PRACTITIONERS › Section 3.2.241.11 - RECEIPTS FOR ADMINISTRATIVE SERVICES NOT DEDUCTIBLE

Current through Register Vol. 35, No. 13, July 16, 2024
Receipts of a third party for administering a health
				  insurance or medical plan are not deductible under Section
				  7-9-93
				  NMSA 1978.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 2 - GROSS RECEIPTS TAXES › Part 241 - DEDUCTION - GROSS RECEIPTS TAX - RECEIPTS OF HEALTH CARE PRACTITIONERS › Section 3.2.241.12 - RECEIPTS NOT DEDUCTIBLE UNDER SECTION 7-9-93 NMSA 1978

Current through Register Vol. 35, No. 13, July 16, 2024
Receipts of a health care practitioner other than from
				  payments by a managed health care provider or health care insurer for
				  commercial contract services or medicare part C services provided by the health
				  care practitioner are not deductible under Section
				  7-9-93
				  NMSA 1978. Receipts of health care practitioners not deductible under Section
				  7-9-93
				  NMSA 1978 include:
A. receipts from
				any payment, such as a co-payment, that is the responsibility of the patient
				under the managed health care plan or health insurance;
B. receipts on a fee-for-service basis;
				"fee-for-service" means a traditional method of paying for health care services
				under which health care practitioners are paid for each service rendered, as
				opposed to paying in accordance with a schedule of fees in a contract the
				health care provider has entered into with a third party;
C. receipts from providing services to
				medicaid patients; and
D. receipts
				from selling tangible personal property such as nonprescription medicine that
				is not incidental to the provision of a deductible service.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 2 - GROSS RECEIPTS TAXES › Part 241 - DEDUCTION - GROSS RECEIPTS TAX - RECEIPTS OF HEALTH CARE PRACTITIONERS › Section 3.2.241.13 - RECEIPTS OF CORPORATE PRACTICE

Current through Register Vol. 35, No. 13, July 16, 2024
A corporation, unincorporated business association, or other
				  legal entity may deduct under Section
				  7-9-93
				  NMSA 1978 its receipts from managed health care providers or health care
				  insurers for commercial contract services or medicare part C services provided
				  on its behalf by health care practitioners who own or are employed by the
				  corporation, unincorporated business association or other legal entity that is
				  not:
A. an organization described by
				Subsection A of Section
				7-9-29
				NMSA 1978; or
B. an HMO, hospital,
				hospice, nursing home, an entity that is solely an outpatient facility or
				intermediate care facility licensed under the Public Health Act.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 2 - GROSS RECEIPTS TAXES › Part 241 - DEDUCTION - GROSS RECEIPTS TAX - RECEIPTS OF HEALTH CARE PRACTITIONERS › Section 3.2.241.14 - VALID CERTIFICATE OF COMPLIANCE REQUIRED

Current through Register Vol. 35, No. 13, July 16, 2024
A person is not a "health care insurer" as defined by Section
				  7-9-93
				  NMSA 1978 if the person does not have a valid certificate of compliance issued
				  by the public regulation commission under the New Mexico insurance code to act
				  as an insurer, health maintenance organization, nonprofit health care plan or
				  prepaid dental plan. Receipts of health care practitioners from persons without
				  such a valid certificate of compliance are not deductible under Section
				  7-9-93
				  NMSA 1978.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 2 - GROSS RECEIPTS TAXES › Part 241 - DEDUCTION - GROSS RECEIPTS TAX - RECEIPTS OF HEALTH CARE PRACTITIONERS › Section 3.2.241.15 - SELF-INSURERS MAY BE "MANAGED HEALTH CARE PROVIDERS"

Current through Register Vol. 35, No. 13, July 16, 2024
If a person provides for the delivery of comprehensive basic
				  health care services and medically necessary services to the person's employees
				  enrolled in a self-insurance plan through contracting with selected or
				  participating health care practitioners, that person is a "managed health care
				  provider". Example: New Mexico state government's self-insured plan under the
				  Group Benefits Act.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 2 - GROSS RECEIPTS TAXES › Part 241 - DEDUCTION - GROSS RECEIPTS TAX - RECEIPTS OF HEALTH CARE PRACTITIONERS › Section 3.2.241.16 - PAYMENTS FROM WORKERS COMPENSATION

Current through Register Vol. 35, No. 13, July 16, 2024
Receipts of a health care practitioner from the state of New
				  Mexico pursuant to the Workers Compensation Act are not receipts from a managed
				  health care provider or health care insurer and are not deductible under
				  Section
				  7-9-93
				  NMSA 1978.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 2 - GROSS RECEIPTS TAXES › Part 241 - DEDUCTION - GROSS RECEIPTS TAX - RECEIPTS OF HEALTH CARE PRACTITIONERS › Section 3.2.241.17 - RECEIPTS OF HEALTH CARE FACILITIES NOT DEDUCTIBLE

Current through Register Vol. 35, No. 13, July 16, 2024
An organization, whether or not owned exclusively by health
				  care practitioners, licensed as a hospital, hospice, nursing home, an entity
				  that is solely an outpatient facility or intermediate care facility under the
				  Public Health Act is not a "health care practitioner" as defined by Section
				  7-9-93
				  NMSA 1978. Receipts of such an organization are not deductible under Section
				  7-9-93
				  NMSA 1978.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 2 - GROSS RECEIPTS TAXES › Part 241 - DEDUCTION - GROSS RECEIPTS TAX - RECEIPTS OF HEALTH CARE PRACTITIONERS › Section 3.2.241.18 - RECEIPTS FROM "MEDIGAP" INSURANCE POLICIES NOT DEDUCTIBLE

Current through Register Vol. 35, No. 13, July 16, 2024
Payments from an insurer in accordance with a medigap policy
				  are not deductible under Section
				  7-9-93
				  NMSA 1978. Medigap policies are not paying for "commercial contract services"
				  as defined by Section
				  7-9-93
				  NMSA 1978. For purposes of the deduction under Section
				  7-9-93
				  NMSA 1978, amedigap policy meets the statutory definition of a "medicare
				  supplemental policy" contained in
				  42 U.S.C.
				  1395 ss(g)(1). It is a health insurance
				  policy or other health benefit plan offered by a private entity to those
				  persons entitled to medicare benefits and is specifically designed to
				  supplement medicare benefits. Medigap policies do not include limited benefit
				  coverage available to medicare beneficiaries such as "specified disease" or
				  "hospital indemnity" coverage.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 2 - GROSS RECEIPTS TAXES › Part 242 - DEDUCTION - GROSS RECEIPTS TAX - RECEIPTS OF RETAILERS FROM SALES OF CERTAIN TANGIBLE PERSONAL PROPERTY › Section 3.2.242.1 - ISSUING AGENCY

Current through Register Vol. 35, No. 13, July 16, 2024
Taxation and Revenue Department, Joseph M. Montoya Building,
				  1100 South St. Francis Drive, P.O. Box 630, Santa Fe NM
				  87504-0630
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 2 - GROSS RECEIPTS TAXES › Part 242 - DEDUCTION - GROSS RECEIPTS TAX - RECEIPTS OF RETAILERS FROM SALES OF CERTAIN TANGIBLE PERSONAL PROPERTY › Section 3.2.242.2 - SCOPE

Current through Register Vol. 35, No. 13, July 16, 2024
This part applies to each person engaging in business in New
				  Mexico.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 2 - GROSS RECEIPTS TAXES › Part 242 - DEDUCTION - GROSS RECEIPTS TAX - RECEIPTS OF RETAILERS FROM SALES OF CERTAIN TANGIBLE PERSONAL PROPERTY › Section 3.2.242.3 - STATUTORY AUTHORITY

Current through Register Vol. 35, No. 13, July 16, 2024
Section
				  9-11-6.2
				  NMSA 1978.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 2 - GROSS RECEIPTS TAXES › Part 242 - DEDUCTION - GROSS RECEIPTS TAX - RECEIPTS OF RETAILERS FROM SALES OF CERTAIN TANGIBLE PERSONAL PROPERTY › Section 3.2.242.4 - DURATION

Current through Register Vol. 35, No. 13, July 16, 2024
Permanent.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 2 - GROSS RECEIPTS TAXES › Part 242 - DEDUCTION - GROSS RECEIPTS TAX - RECEIPTS OF RETAILERS FROM SALES OF CERTAIN TANGIBLE PERSONAL PROPERTY › Section 3.2.242.5 - EFFECTIVE DATE

Current through Register Vol. 35, No. 13, July 16, 2024
8/15/05, unless a later date is cited at the end of a
				  section, in which case the later date is the effective date.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 2 - GROSS RECEIPTS TAXES › Part 242 - DEDUCTION - GROSS RECEIPTS TAX - RECEIPTS OF RETAILERS FROM SALES OF CERTAIN TANGIBLE PERSONAL PROPERTY › Section 3.2.242.6 - OBJECTIVE

Current through Register Vol. 35, No. 13, July 16, 2024
The objective of this part is to interpret, exemplify,
				  implement and enforce the provisions of the Gross Receipts and Compensating Tax
				  Act.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 2 - GROSS RECEIPTS TAXES › Part 242 - DEDUCTION - GROSS RECEIPTS TAX - RECEIPTS OF RETAILERS FROM SALES OF CERTAIN TANGIBLE PERSONAL PROPERTY › Section 3.2.242.7 - DEFINITIONS

Current through Register Vol. 35, No. 13, July 16, 2024
A. As used in
				Section
				7-9-95
				NMSA 1978 "standard classroom" means a classroom that:
(1) is located in a school;
(2) is configured for a general education
				curriculum; and
(3) does not
				contain specialized equipment such as scientific laboratory equipment or
				musical instruments.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 2 - GROSS RECEIPTS TAXES › Part 242 - DEDUCTION - GROSS RECEIPTS TAX - RECEIPTS OF RETAILERS FROM SALES OF CERTAIN TANGIBLE PERSONAL PROPERTY › Section 3.2.242.8 - ITEMS NORMALLY SOLD AS A UNIT

Current through Register Vol. 35, No. 13, July 16, 2024
Articles normally sold as a unit must be sold that way during
				  the time period specified in Section
				  7-9-95
				  NMSA 1978 to qualify for the deduction. They cannot be priced separately and
				  sold as individual items to qualify for the deduction. For example, shoes
				  normally sold in a pair for $180 cannot be sold singly for $90 each to qualify
				  for the deduction.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 2 - GROSS RECEIPTS TAXES › Part 242 - DEDUCTION - GROSS RECEIPTS TAX - RECEIPTS OF RETAILERS FROM SALES OF CERTAIN TANGIBLE PERSONAL PROPERTY › Section 3.2.242.9 - PURCHASES USING A RAIN CHECK

Current through Register Vol. 35, No. 13, July 16, 2024
A "rain check" is an assurance to a customer that an item on
				  sale that is sold out or out of stock may be purchased later at the sale price.
				  Receipts from qualified purchases of tangible personal property made with a
				  rain check during the time period specified in Section
				  7-9-95
				  NMSA 1978 are deductible. Purchases made after this time period with a rain
				  check regardless of when the rain check was issued are not
				  deductible.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 2 - GROSS RECEIPTS TAXES › Part 242 - DEDUCTION - GROSS RECEIPTS TAX - RECEIPTS OF RETAILERS FROM SALES OF CERTAIN TANGIBLE PERSONAL PROPERTY › Section 3.2.242.10 - LAYAWAY SALES

Current through Register Vol. 35, No. 13, July 16, 2024
A retailer performs a service when holding merchandise on a
				  layaway plan at the request of the customer.
A. The initiation of a layaway plan does not
				constitute a sale even if the customer makes a deposit to the retailer. A sale
				of the merchandise under the layaway plan occurs only when the final payment is
				made and the merchandise is delivered to the customer.
B. If the final payment on a layaway plan and
				delivery of merchandise occur at a time other than during the time period
				specified in Section
				7-9-95
				NMSA 1978, the receipts from the sale are not deductible under Section
				7-9-95
				NMSA 1978.
C. If the final payment
				on a layaway plan and delivery of merchandise occur during the time period
				specified in Section
				7-9-95
				NMSA 1978, the receipts are deductible under Section
				7-9-95
				NMSA 1978 if the other requirements of the section are met.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 2 - GROSS RECEIPTS TAXES › Part 242 - DEDUCTION - GROSS RECEIPTS TAX - RECEIPTS OF RETAILERS FROM SALES OF CERTAIN TANGIBLE PERSONAL PROPERTY › Section 3.2.242.11 - EXCHANGES AND REFUNDS

Current through Register Vol. 35, No. 13, July 16, 2024
A.
				The exchange after the time period specified in Section
				7-9-95
				NMSA 1978 of tangible personal property that was purchased during the time
				period specified in Section
				7-9-95
				NMSA 1978 remains deductible if there is no additional charge for the
				exchange.
B. If an item of tangible
				personal property purchased during the time period specified in Section
				7-9-95
				NMSA 1978 and deductible under Section
				7-9-95
				NMSA 1978 is exchanged at a later time for an item of different value, the
				receipts from the subsequent sale are subject to gross receipts tax.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 2 - GROSS RECEIPTS TAXES › Part 242 - DEDUCTION - GROSS RECEIPTS TAX - RECEIPTS OF RETAILERS FROM SALES OF CERTAIN TANGIBLE PERSONAL PROPERTY › Section 3.2.242.12 - INTERNET, MAIL ORDER AND TELEPHONE SALES

Current through Register Vol. 35, No. 13, July 16, 2024
Qualified items sold to purchasers with a New Mexico billing
				  address by mail, telephone, email and internet shall qualify for deduction
				  under Section
				  7-9-95
				  NMSA 1978 if:
A. the item is both
				delivered to and paid for by the customer during the time period specified in
				Section
				7-9-95
				NMSA 1978; or
B. the customer
				orders and pays for the item and the retailer accepts the order during the time
				period specified in Section
				7-9-95
				NMSA 1978 for immediate shipment, even if delivery of the item is made after
				the exemption period.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 2 - GROSS RECEIPTS TAXES › Part 242 - DEDUCTION - GROSS RECEIPTS TAX - RECEIPTS OF RETAILERS FROM SALES OF CERTAIN TANGIBLE PERSONAL PROPERTY › Section 3.2.242.13 - DOCUMENTING DEDUCTIBLE SALES

Current through Register Vol. 35, No. 13, July 16, 2024
Retailers claiming the deduction under Section
				  7-9-95
				  NMSA 1978 are required to maintain in their records the type of item sold, the
				  date sold and the sales price of deductible merchandise sold during the time
				  period specified in Section
				  7-9-95
				  NMSA 1978.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 2 - GROSS RECEIPTS TAXES › Part 242 - DEDUCTION - GROSS RECEIPTS TAX - RECEIPTS OF RETAILERS FROM SALES OF CERTAIN TANGIBLE PERSONAL PROPERTY › Section 3.2.242.14 - ITEMS THAT DO NOT QUALIFY FOR THE DEDUCTION UNDER Section 7-9-95 NMSA

Current through Register Vol. 35, No. 13, July 16, 2024
In addition to those items specifically excluded in the
				  statute, the following are ineligible for the deduction:
A. e-readers that only have the ability to
				access the internet but that have no other computing functions such as word
				processing, spreadsheet capabilities, etc.;
B. personal digital assistants (PDAs), MP3
				players, cassette players and recorders, cameras, books, magazines and other
				periodicals;
C. all computer and
				computer-related equipment not specifically deductible under Section
				7-9-95
				NMSA 1978 unless bundled with and included in the price of items that qualify
				for the deduction under Section
				7-9-95
				NMSA 1978;
D. all computer software
				unless bundled with and included in the price of items that qualify for the
				deduction under Section
				7-9-95
				NMSA 1978;
E. all games including
				video games, board games, computer games, and handheld gaming
				devices;
F. musical
				instruments;
G. materials and
				equipment used for making, repairing or altering clothing such as cloth,
				thread, yarn, needles, buttons, zippers, and patterns;
H. athletic and protective gloves, pads,
				supporters, and helmets;
I.
				swimwear, cover-ups, and caps;
J.
				specialized footwear not readily adaptable for wearing on the street, such as
				ski boots, riding boots, waders, bowling shoes and shoes with cleats or spikes;
				and
K. briefcases and luggage;
				prerecorded CDs, DVDs, and cassette tapes.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 2 - GROSS RECEIPTS TAXES › Part 242 - DEDUCTION - GROSS RECEIPTS TAX - RECEIPTS OF RETAILERS FROM SALES OF CERTAIN TANGIBLE PERSONAL PROPERTY › Section 3.2.242.15 - RECEIPTS THAT ARE NOT DEDUCTIBLE

Current through Register Vol. 35, No. 13, July 16, 2024
Receipts from the following transactions are not deductible
				  under Section
				  7-9-95
				  NMSA 1978:
A. Receipts from performing
				services on tangible personal property that are deductible under Section
				7-9-95
				NMSA 1978, such as the alteration or repair of clothing.
B. Receipts from leasing or renting tangible
				personal property. In order for the deduction under Section
				7-9-95
				NMSA 1978 to apply the qualified items must be sold at retail.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 2 - GROSS RECEIPTS TAXES › Part 242 - DEDUCTION - GROSS RECEIPTS TAX - RECEIPTS OF RETAILERS FROM SALES OF CERTAIN TANGIBLE PERSONAL PROPERTY › Section 3.2.242.16 - ITEMS CONSIDERED TO BE COMPUTERS FOR PURPOSES OF THE DEDUCTION UNDER SECTION 7-9-95 NMSA 1978

Current through Register Vol. 35, No. 13, July 16, 2024
In addition to those computers that are specifically
				  authorized in the statute, the following items are considered to be computers
				  and qualify for the deduction as long as the cost of the item does not exceed
				  the one thousand dollars ($1,000) threshold set in statute:
A. e-readers that have computing functions
				such as word processing, spreadsheet capabilities, etc.; and
B. tablet computers.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 2 - GROSS RECEIPTS TAXES › Part 247 - DEDUCTION - GROSS RECEIPTS TAX - SOLAR ENERGY SYSTEMS › Section 3.2.247.1 - ISSUING AGENCY

Current through Register Vol. 35, No. 13, July 16, 2024
Taxation and Revenue Department, Joseph M. Montoya Building,
				  1100 South St. Francis Drive, P.O. Box 630, Santa Fe NM
				  87504-0630
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 2 - GROSS RECEIPTS TAXES › Part 247 - DEDUCTION - GROSS RECEIPTS TAX - SOLAR ENERGY SYSTEMS › Section 3.2.247.2 - SCOPE

Current through Register Vol. 35, No. 13, July 16, 2024
This part applies to each person engaging in business in New
				  Mexico.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 2 - GROSS RECEIPTS TAXES › Part 247 - DEDUCTION - GROSS RECEIPTS TAX - SOLAR ENERGY SYSTEMS › Section 3.2.247.3 - STATUTORY AUTHORITY

Current through Register Vol. 35, No. 13, July 16, 2024
Section
				  9-11-6.2
				  NMSA 1978.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 2 - GROSS RECEIPTS TAXES › Part 247 - DEDUCTION - GROSS RECEIPTS TAX - SOLAR ENERGY SYSTEMS › Section 3.2.247.5 - EFFECTIVE DATE

Current through Register Vol. 35, No. 13, July 16, 2024
3/14/08, unless a later date is cited at the end of a
				  section, in which case the later date is the effective date.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 2 - GROSS RECEIPTS TAXES › Part 247 - DEDUCTION - GROSS RECEIPTS TAX - SOLAR ENERGY SYSTEMS › Section 3.2.247.6 - OBJECTIVE

Current through Register Vol. 35, No. 13, July 16, 2024
The objective of this part is to interpret, exemplify,
				  implement and enforce the provisions of the Gross Receipts and Compensating Tax
				  Act.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 2 - GROSS RECEIPTS TAXES › Part 247 - DEDUCTION - GROSS RECEIPTS TAX - SOLAR ENERGY SYSTEMS › Section 3.2.247.7 - DEFINITIONS

Current through Register Vol. 35, No. 13, July 16, 2024
The terms and phrases defined in 3.2.247.7 NMAC apply to the
				  implementation of the deduction pursuant to Section
				  7-9-112
				  NMSA 1978.
A.
Equipment:
"Equipment" means an essential machine, mechanism, or a component or fitting
				thereof, used directly and exclusively in the installation or operation of a
				solar energy system. Equipment is included in the solar energy system when the
				cost can be included in the basis of the solar energy system as established
				under the applicable provisions of the Internal Revenue Code of 1986.
B.
Trombe wall:
A "trombe wall"
				is a sun-facing wall built from material that can act as a thermal mass, such
				as stone, concrete, adobe or water tanks, combined with an air space and glass
				to form a solar thermal collector.
C.
Solar panel:
A "solar panel"
				is a solar thermal collector, such as a solar hot water or air panel used to
				heat water, air or otherwise collect solar thermal energy. "Solar panel' may
				also refer to a photovoltaic system.
D.
Solar thermal collector:
A
				"solar thermal collector" means an energy system that collects or absorbs solar
				energy for conversion into heat for the purposes of space heating, space
				cooling or water heating.
E.
Solar thermal energy:
"Solar thermal energy" is a technology for
				harnessing solar power for practical applications from solar heating to
				electrical power generation.
F.
Photovoltaic system:
A "photovoltaic system" means an energy
				system that collects or absorbs sunlight for conversion into
				electricity.
G.
Installation
				of a solar energy system:
The "installation of a solar energy system"
				includes replacement of some part of the system, or a similar change to the
				system that would qualify as an adjustment to basis for federal income tax
				purposes. Labor for maintenance or service of a solar energy system does not
				qualify for the deduction in the absence of an installation of some part of the
				system. Labor to perform post-installation adjustments to the solar energy
				system qualifies for the deduction when the adjustments are performed to
				optimize the operation of the solar energy system as part of the initial
				installation and are performed within one year of the initial
				installation.
H.
Solar energy
				system:
A "solar energy system" as defined in Subsection B of Section
				7-9-112
				NMSA 1978, includes components or systems for collecting and storing energy,
				but does not include components or systems related to the use of the energy.
				Examples of use would include the pipes carrying heated water to a faucet or
				the electrical wire carrying electricity to an outlet.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 2 - GROSS RECEIPTS TAXES › Part 247 - DEDUCTION - GROSS RECEIPTS TAX - SOLAR ENERGY SYSTEMS › Section 3.2.247.8 - WRITTEN STATEMENT

Current through Register Vol. 35, No. 13, July 16, 2024
A.
				Receipts from selling equipment or installation services to persons who state
				in writing that they are purchasing the equipment or installation services for
				the exclusive use in installation and operation of a solar energy system
				pursuant Section
				7-9-112
				NMSA 1978, may be deducted from the seller's gross receipts pursuant to Section
				7-9-112
				NMSA 1978 if the statement:
(1) contains a
				declaration that the purchaser-signer will be using the equipment or component
				part in a qualified solar energy system pursuant to Section
				7-9-112
				NMSA 1978;
(2) that the equipment
				purchased or installed is an essential machine, mechanism, or a component or
				fitting thereof, used directly and exclusively in the installation or operation
				of a solar energy system;
(3) that
				the equipment or component part can be included in the basis of the qualified
				solar energy system as established under the applicable provisions of the
				Internal Revenue Code of 1986;
(4)
				is personally signed by the purchaser or the purchaser's agent who makes the
				statement, and
(5) is accepted in
				good faith by the seller.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 2 - GROSS RECEIPTS TAXES › Part 248 - DEDUCTION - GROSS RECEIPTS TAX - MEDICAL TREATMENT OF CATTLE › Section 3.2.248.1 - ISSUING AGENCY

Current through Register Vol. 35, No. 13, July 16, 2024
Taxation and Revenue Department, Joseph M. Montoya Building,
				  1100 South St. Francis Drive, P.O. Box 630, Santa Fe NM
				  87504-0630
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 2 - GROSS RECEIPTS TAXES › Part 248 - DEDUCTION - GROSS RECEIPTS TAX - MEDICAL TREATMENT OF CATTLE › Section 3.2.248.2 - SCOPE

Current through Register Vol. 35, No. 13, July 16, 2024
This part applies to each person engaging in business in New
				  Mexico.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 2 - GROSS RECEIPTS TAXES › Part 248 - DEDUCTION - GROSS RECEIPTS TAX - MEDICAL TREATMENT OF CATTLE › Section 3.2.248.3 - STATUTORY AUTHORITY

Current through Register Vol. 35, No. 13, July 16, 2024
Section
				  9-11-6.2
				  NMSA 1978.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 2 - GROSS RECEIPTS TAXES › Part 248 - DEDUCTION - GROSS RECEIPTS TAX - MEDICAL TREATMENT OF CATTLE › Section 3.2.248.5 - EFFECTIVE DATE

Current through Register Vol. 35, No. 13, July 16, 2024
5/15/08, unless a later date is cited at the end of a
				  section, in which case the later date is the effective date.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 2 - GROSS RECEIPTS TAXES › Part 248 - DEDUCTION - GROSS RECEIPTS TAX - MEDICAL TREATMENT OF CATTLE › Section 3.2.248.6 - OBJECTIVE

Current through Register Vol. 35, No. 13, July 16, 2024
The objective of this part is to interpret, exemplify,
				  implement and enforce the provisions of the Gross Receipts and Compensating Tax
				  Act.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 2 - GROSS RECEIPTS TAXES › Part 248 - DEDUCTION - GROSS RECEIPTS TAX - MEDICAL TREATMENT OF CATTLE › Section 3.2.248.8 - WRITTEN STATEMENT OF FARMING OR RANCHING

Current through Register Vol. 35, No. 13, July 16, 2024
A. Receipts from providing veterinary medical
				services or from selling medicine or medical supplies used in the medical
				treatment of cattle to a person who states in writing that they are regularly
				engaged in the business of ranching or farming may be deducted from the
				seller's gross receipts pursuant to Section
				7-9-109
				NMSA 1978. The written statement must be accepted in good faith by the seller
				in order for the seller to take the deduction authorized by Section
				7-9-109
				NMSA 1978. The good faith acceptance requirement applies to each transaction
				intended to be covered by the written statement.
B. The following is an example of a statement
				that will be accepted by the department as conclusive evidence that receipts
				from selling enumerated items to persons signing the statement may be deducted
				from the seller's gross receipts pursuant to Section
				7-9-109
				NMSA 1978 if the seller accepted such a statement in good faith. "I swear or
				affirm that I am regularly engaged in the business of farming or ranching. This
				declaration is made for the purpose of allowing receipts from selling
				veterinary medical services, medicine and medical supplies used in the medical
				treatment of cattle to be deducted from the gross receipts of the seller
				pursuant to Section
				7-9-109
				NMSA 1978."
C. Receipts from
				selling any of the items mentioned in Section
				7-9-109
				NMSA 1978 to a person engaged in the farming or ranching business may not be
				deducted from gross receipts unless the sale is made to a person who makes a
				written statement which is in compliance with 3.2.248.8 NMAC.
D. For the purposes of Section
				7-9-109
				NMSA 1978 it is sufficient if the seller receives one written statement from
				each purchaser, provided the seller maintains that statement on file.
E. When the seller accepts in good faith a
				person's written statement that the person is regularly engaged in the business
				of farming or ranching, the written statement shall be conclusive evidence that
				the receipts from the transaction with the person having made the statement are
				deductible from the seller's gross receipts under Section
				7-9-109
				NMSA 1978.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 2 - GROSS RECEIPTS TAXES › Part 249 - DEDUCTION - GROSS RECEIPTS TAX - LEASING OF CONSTRUCTION EQUIPMENT › Section 3.2.249.1 - ISSUING AGENCY

Current through Register Vol. 35, No. 13, July 16, 2024
Taxation and Revenue Department, Joseph M. Montoya Building,
				  1100 South St. Francis Drive, P.O. Box 630, Santa Fe NM
				  87504-0630.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 2 - GROSS RECEIPTS TAXES › Part 249 - DEDUCTION - GROSS RECEIPTS TAX - LEASING OF CONSTRUCTION EQUIPMENT › Section 3.2.249.2 - SCOPE

Current through Register Vol. 35, No. 13, July 16, 2024
This part applies to each person engaging in business in New
				  Mexico.