reglab/statecodes huggingface dataset:
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 2 - GROSS RECEIPTS TAXES › Part 106 - EXEMPTION - GROSS RECEIPTS TAX - AGRICULTURAL PRODUCTS › Section 3.2.106.15 - CANNABIS

Current through Register Vol. 35, No. 13, July 16, 2024
Receipts of a licensed cannabis retailer from the sale of
				  cannabis products, including without limitation cannabis flowers as defined in
				  Section 26-2C-2 NMSA 1978, are subject to the gross receipts tax. The receipts
				  from the sale of cannabis products, including cannabis flowers as defined in
				  Section 26-2C-2 NMSA 1978, are not receipts from the sale of unprocessed
				  agricultural products.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 2 - GROSS RECEIPTS TAXES › Part 107 - EXEMPTION - GROSS RECEIPTS TAX - LIVESTOCK FEEDING › Section 3.2.107.1 - 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 107 - EXEMPTION - GROSS RECEIPTS TAX - LIVESTOCK FEEDING › Section 3.2.107.2 - SCOPE

Current through Register Vol. 35, No. 13, July 16, 2024
This part applies to each person engaging in business in New
				  Mexico and feeding, pasturing, penning, handling or training
				  livestock.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 2 - GROSS RECEIPTS TAXES › Part 107 - EXEMPTION - GROSS RECEIPTS TAX - LIVESTOCK FEEDING › Section 3.2.107.3 - 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 107 - EXEMPTION - GROSS RECEIPTS TAX - LIVESTOCK FEEDING › Section 3.2.107.5 - EFFECTIVE DATE

Current through Register Vol. 35, No. 13, July 16, 2024
11/15/96, 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 107 - EXEMPTION - GROSS RECEIPTS TAX - LIVESTOCK FEEDING › Section 3.2.107.6 - 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 107 - EXEMPTION - GROSS RECEIPTS TAX - LIVESTOCK FEEDING › Section 3.2.107.8 - RECEIPTS FROM FEEDING ANIMALS

Current through Register Vol. 35, No. 13, July 16, 2024
A. Only the receipts from feeding, pasturing,
				penning or handling livestock are exempt under Section
				7-9-19
				NMSA 1978. The receipts from feeding, pasturing, penning or handling any
				animals which are not livestock are subject to the gross receipts
				tax.
B. The following examples
				illustrate the application of Section
				7-9-19
				NMSA 1978.
(1) Example 1: A owns 1,000 sheep.
				A pastures them with B, who owns a ranch, for fifteen cents ($0.15) per head
				per month. The receipts which B receives are exempt from the gross receipts
				tax.
(2) Example 2: V, a
				veterinarian, maintains facilities for boarding animals. V boards cats and dogs
				that are under veterinary care. V's receipts from these services are not exempt
				under Section
				7-9-19
				NMSA 1978 because the cats and dogs are not livestock.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 2 - GROSS RECEIPTS TAXES › Part 108 - EXEMPTION - GROSS RECEIPTS TAX - CERTAIN RECEIPTS OF HOMEOWNERS ASSOCIATIONS › Section 3.2.108.1 - 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 108 - EXEMPTION - GROSS RECEIPTS TAX - CERTAIN RECEIPTS OF HOMEOWNERS ASSOCIATIONS › Section 3.2.108.2 - SCOPE

Current through Register Vol. 35, No. 13, July 16, 2024
This part applies to homeowners associations in New Mexico
				  and their members.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 2 - GROSS RECEIPTS TAXES › Part 108 - EXEMPTION - GROSS RECEIPTS TAX - CERTAIN RECEIPTS OF HOMEOWNERS ASSOCIATIONS › Section 3.2.108.3 - 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 108 - EXEMPTION - GROSS RECEIPTS TAX - CERTAIN RECEIPTS OF HOMEOWNERS ASSOCIATIONS › Section 3.2.108.5 - EFFECTIVE DATE

Current through Register Vol. 35, No. 13, July 16, 2024
11/15/96, 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 108 - EXEMPTION - GROSS RECEIPTS TAX - CERTAIN RECEIPTS OF HOMEOWNERS ASSOCIATIONS › Section 3.2.108.6 - 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 108 - EXEMPTION - GROSS RECEIPTS TAX - CERTAIN RECEIPTS OF HOMEOWNERS ASSOCIATIONS › Section 3.2.108.8 - OWNERSHIP OF PROPERTY WITHIN THE DEVELOPMENT OR SUBDIVISION REQUIRED

Current through Register Vol. 35, No. 13, July 16, 2024
A. To be exempt
				from gross receipts tax under the provisions of Section
				7-9-20
				NMSA 1978, the receipts of the homeowners association must be from members of
				the association who own residential property within the development or
				subdivision which the homeowner association serves.
B. The receipts of a homeowner association
				which are received as membership fees, dues, assessments or other charges from
				persons who are not owners of residential units, residences or residential lots
				within the development or subdivision which the association serves are not
				exempt from gross receipts under Section
				7-9-20
				NMSA 1978.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 2 - GROSS RECEIPTS TAXES › Part 108 - EXEMPTION - GROSS RECEIPTS TAX - CERTAIN RECEIPTS OF HOMEOWNERS ASSOCIATIONS › Section 3.2.108.9 - RECEIPTS OTHER THAN MEMBERSHIP FEES, DUES OR ASSESSMENTS

Current through Register Vol. 35, No. 13, July 16, 2024
A. The receipts of
				any homeowner association from the sale or lease of property to any individual,
				whether or not the individual is a member of the association, are not exempt
				from the gross receipts tax under Section
				7-9-20
				NMSA 1978. The receipts of any homeowner association from the sale of a service
				performed solely for the benefit of an individual, whether or not the
				individual is a member of the association, are not exempt from the gross
				receipts tax under Section
				7-9-20
				NMSA 1978 when the service is not performed on common areas served or
				controlled by the association.
B.
				The following examples illustrate the application of Section
				7-9-20
				NMSA 1978.
(1) Example 1: Association A
				maintains vending and other coin operated machines for the convenience of its
				members and their guests. The receipts which Association A receives from the
				operation of the coin operated machines are not exempt from gross receipts tax
				under the provisions of Section
				7-9-20
				NMSA 1978. Association A will be liable for gross receipts tax on any sale of
				tangible personal property through vending machines and on any service provided
				by coin operated machines.
(2)
				Example 2: Association B owns and operates a golf course for the sole use by
				its members and their guests. Association B also rents golf carts on a per use
				basis. Its receipts from the rental of the golf carts are not received as
				membership fees, dues or assessments from members for payment of taxes,
				insurance, utility expenses, management or improvement, maintenance or
				rehabilitation of common areas, elements or facilities. The receipts from the
				rental of the golf carts are subject to the gross receipts tax.
(3) Example 3: Association C has contracted
				to paint the interior and exterior of an individual member's residence. The
				maintenance of an individual's residence is not maintenance of common areas,
				elements or facilities. Therefore, Association C's receipts used for painting
				the member's individual property are subject to the gross receipts tax and are
				not exempt under Section
				7-9-20
				NMSA 1978.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 2 - GROSS RECEIPTS TAXES › Part 108 - EXEMPTION - GROSS RECEIPTS TAX - CERTAIN RECEIPTS OF HOMEOWNERS ASSOCIATIONS › Section 3.2.108.10 - RECEIPTS OF ASSOCIATIONS WHERE COMMON AREAS ARE OPEN TO NON-MEMBERS

Current through Register Vol. 35, No. 13, July 16, 2024
If a homeowners association allows the use of the common
				  areas or facilities by persons other than members of the association or their
				  guests, the association's receipts from use of the common areas or facilities
				  by such non-members are not exempt from gross receipts tax under Section
				  7-9-20
				  NMSA 1978 since those common areas, elements or facilities are not for the sole
				  use of the owners and their guests.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 2 - GROSS RECEIPTS TAXES › Part 109 - EXEMPTION - GROSS RECEIPTS TAX - VEHICLES › Section 3.2.109.1 - 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 109 - EXEMPTION - GROSS RECEIPTS TAX - VEHICLES › Section 3.2.109.3 - 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 109 - EXEMPTION - GROSS RECEIPTS TAX - VEHICLES › Section 3.2.109.5 - EFFECTIVE DATE

Current through Register Vol. 35, No. 13, July 16, 2024
11/15/96, 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 109 - EXEMPTION - GROSS RECEIPTS TAX - VEHICLES › Section 3.2.109.6 - 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 109 - EXEMPTION - GROSS RECEIPTS TAX - VEHICLES › Section 3.2.109.8 - MOTOR VEHICLE EXCISE TAX

Current through Register Vol. 35, No. 13, July 16, 2024
A. The receipts from the sale of a vehicle of
				a type excepted from registration under Section
				66-3-1
				NMSA 1978 are not subject to any taxes imposed upon the issuance of a
				certificate of title under the Motor Vehicle Excise Tax Act and are therefore
				subject to gross receipts tax.
B.
				Example: The receipts from the sale of a logging truck used off the highway
				except for the purpose of crossing the highway from one property to another,
				are subject to gross receipts tax because there is no tax imposed upon the
				issuance of a certificate of title for that vehicle under the Motor Vehicle
				Excise Tax Act since it is exempted from registration in this state under
				Section 66-3-l NMSA 1978.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 2 - GROSS RECEIPTS TAXES › Part 109 - EXEMPTION - GROSS RECEIPTS TAX - VEHICLES › Section 3.2.109.9 - ADDITIONAL EQUIPMENT

Current through Register Vol. 35, No. 13, July 16, 2024
A.
				Receipts from the sale of motor vehicle bodies, accessories, equipment and the
				like, whether sold separately or mounted on the vehicle are not subject to this
				exemption except where their value is included in computing the tax paid under
				the Motor Vehicle Excise Tax Act on the sale of a vehicle.
B. Example: M buys a pickup from R Motor
				Company. Three days after the truck is purchased, M buys a camper attachment
				for the pickup from R. The value of the camper attachment was not included in
				computing the tax imposed by the Motor Vehicle Excise Tax Act on the pickup.
				R's receipts from the sale of the camper are subject to the gross receipts
				tax.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 2 - GROSS RECEIPTS TAXES › Part 109 - EXEMPTION - GROSS RECEIPTS TAX - VEHICLES › Section 3.2.109.10 - DISCOUNTING OF VEHICLES SALES CONTRACTS

Current through Register Vol. 35, No. 13, July 16, 2024
The receipts of automobile dealers who sell automobiles and
				  other vehicles subject to registration pursuant to Section
				  66-3-1
				  NMSA 1978 which are derived from the sale of financing agreements on such
				  automobiles and vehicles to a bank or financial corporation are not subject to
				  the gross receipts tax because the underlying transaction is exempted from that
				  tax pursuant to Section
				  7-9-22
				  NMSA 1978 and the sale of commercial paper, an intangible, is not subject to
				  the gross receipts tax.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 2 - GROSS RECEIPTS TAXES › Part 109 - EXEMPTION - GROSS RECEIPTS TAX - VEHICLES › Section 3.2.109.11 - MANUFACTURED HOMES

Current through Register Vol. 35, No. 13, July 16, 2024
Receipts from selling manufactured homes are subject to the
				  gross receipts tax. Manufactured homes are exempted from the motor vehicle
				  excise tax by Section
				  7-14-3
				  NMSA 1978.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 2 - GROSS RECEIPTS TAXES › Part 109 - EXEMPTION - GROSS RECEIPTS TAX - VEHICLES › Section 3.2.109.12 - SERVICE CONTRACT SALE PRICE AND TRANSFER FEES ON VEHICLE SALE NOT DEDUCTIBLE AS TAXABLE UNDER MOTOR VEHICLE EXCISE TAX

Current through Register Vol. 35, No. 13, July 16, 2024
Receipts from the sale of automotive service contracts and
				  from charges for transfer services (document fees) are not covered by the
				  exemption provided by Section
				  7-9-22
				  NMSA 1978 and shall not be included in computing the tax paid under Section
				  7-14-4
				  NMSA 1978 on the sale of the vehicle since the receipts are not "price paid for
				  the vehicle" as required by Section
				  7-14-4
				  NMSA 1978.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 2 - GROSS RECEIPTS TAXES › Part 109 - EXEMPTION - GROSS RECEIPTS TAX - VEHICLES › Section 3.2.109.13 - ATVs

Current through Register Vol. 35, No. 13, July 16, 2024
Receipts from selling all-terrain vehicles (ATVs) are
				  receipts from selling vehicles on which a tax is imposed by the Motor Vehicle
				  Excise Tax. Therefore receipts from selling ATVs are exempt from gross
				  receipts.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 2 - GROSS RECEIPTS TAXES › Part 110 - EXEMPTION - GROSS RECEIPTS TAX - BOATS › Section 3.2.110.1 - 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 110 - EXEMPTION - GROSS RECEIPTS TAX - BOATS › Section 3.2.110.3 - 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 110 - EXEMPTION - GROSS RECEIPTS TAX - BOATS › Section 3.2.110.5 - EFFECTIVE DATE

Current through Register Vol. 35, No. 13, July 16, 2024
11/15/96, 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 110 - EXEMPTION - GROSS RECEIPTS TAX - BOATS › Section 3.2.110.6 - 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 110 - EXEMPTION - GROSS RECEIPTS TAX - BOATS › Section 3.2.110.8 - ADDITIONAL EQUIPMENT

Current through Register Vol. 35, No. 13, July 16, 2024
A.
				Receipts from the sale of boat accessories, optional equipment and the like,
				whether sold separately or mounted on the boat, are not subject to this
				exemption except where such equipment is included in and is part of the sale of
				a boat and the value is included in computing the tax paid under Section
				66-12-6.1
				NMSA 1978 on the sale of a boat, as that term is defined in Section
				66-12-3
				NMSA 1978.
B. Example: M buys a
				boat from A Marina. Three days after M has purchased the boat M buys a canopy
				attachment for the boat from A. The value of the canopy attachment was not
				included in computing the tax imposed by Section
				66-12-6.1
				NMSA 1978 on the boat. A's receipts from the sale of the canopy are subject to
				the gross receipts tax.
C. Section
				3.2.110.8 NMAC applies to transactions on or after July 1, 1987.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 2 - GROSS RECEIPTS TAXES › Part 110 - EXEMPTION - GROSS RECEIPTS TAX - BOATS › Section 3.2.110.9 - DISCOUNTING OF BOATS SALES CONTRACTS

Current through Register Vol. 35, No. 13, July 16, 2024
Because the sale of commercial paper in itself is not subject
				  to the gross receipts tax and because receipts from underlying transactions are
				  exempt under Section
				  7-9-22.1
				  NMSA 1978, receipts from the sale of financing agreements to a bank or a
				  financial corporation with respect to the sale of a boat subject to taxation
				  under Section
				  66-12-6.1
				  NMSA 1978 are also exempt.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 2 - GROSS RECEIPTS TAXES › Part 111 - EXEMPTION - COMPENSATING TAX - VEHICLES › Section 3.2.111.1 - 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 111 - EXEMPTION - COMPENSATING TAX - VEHICLES › Section 3.2.111.2 - SCOPE

Current through Register Vol. 35, No. 13, July 16, 2024
This part applies to each person engaging in business in New
				  Mexico or using vehicles in New Mexico.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 2 - GROSS RECEIPTS TAXES › Part 111 - EXEMPTION - COMPENSATING TAX - VEHICLES › Section 3.2.111.3 - 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 111 - EXEMPTION - COMPENSATING TAX - VEHICLES › Section 3.2.111.5 - EFFECTIVE DATE

Current through Register Vol. 35, No. 13, July 16, 2024
11/15/96, 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 111 - EXEMPTION - COMPENSATING TAX - VEHICLES › Section 3.2.111.6 - 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 111 - EXEMPTION - COMPENSATING TAX - VEHICLES › Section 3.2.111.8 - CREDIT FOR TAXES PAID IN OTHER STATES

Current through Register Vol. 35, No. 13, July 16, 2024
The tax imposed by the Motor Vehicle Excise Tax Act will be
				  considered paid if the credit received for excise taxes paid in another state
				  equals the amount of tax due in New Mexico.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 2 - GROSS RECEIPTS TAXES › Part 112 - EXEMPTION - GROSS RECEIPTS TAX - INSURANCE COMPANIES › Section 3.2.112.1 - 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 112 - EXEMPTION - GROSS RECEIPTS TAX - INSURANCE COMPANIES › Section 3.2.112.2 - SCOPE

Current through Register Vol. 35, No. 13, July 16, 2024
This part applies to each insurance company, insurance agent
				  or property bondsman engaging in business in New Mexico.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 2 - GROSS RECEIPTS TAXES › Part 112 - EXEMPTION - GROSS RECEIPTS TAX - INSURANCE COMPANIES › Section 3.2.112.3 - 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 112 - EXEMPTION - GROSS RECEIPTS TAX - INSURANCE COMPANIES › Section 3.2.112.5 - EFFECTIVE DATE

Current through Register Vol. 35, No. 13, July 16, 2024
11/15/96, 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 112 - EXEMPTION - GROSS RECEIPTS TAX - INSURANCE COMPANIES › Section 3.2.112.6 - 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 112 - EXEMPTION - GROSS RECEIPTS TAX - INSURANCE COMPANIES › Section 3.2.112.8 - PREMIUMS FROM BONDS & POLICIES

Current through Register Vol. 35, No. 13, July 16, 2024
A. Receipts of insurance companies or any
				agent thereof from premiums for surety bonds or insurance policies are exempt
				under Section
				7-9-24
				NMSA 1978.
B. For purposes of
				Section
				7-9-24
				NMSA 1978, the term "insurance companies" includes:
(1) health maintenance organizations having a
				certificate of authority pursuant to the Health Maintenance Organization
				Law;
(2) nonprofit health care
				plans having a certificate of authority pursuant to the Nonprofit Health Care
				Plan Law;
(3) prepaid dental plans
				having a certificate of authority pursuant to the Prepaid Dental Plan Law;
				and
(4) prearranged funeral plans
				subject to the Prearranged Funeral Plan Regulatory Law.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 2 - GROSS RECEIPTS TAXES › Part 112 - EXEMPTION - GROSS RECEIPTS TAX - INSURANCE COMPANIES › Section 3.2.112.9 - INSURANCE ADJUSTERS OR ADJUSTING FIRMS

Current through Register Vol. 35, No. 13, July 16, 2024
Receipts of insurance adjusters or adjusting firms are not
				  receipts from premiums and are not exempt under Section
				  7-9-24
				  NMSA 1978.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 2 - GROSS RECEIPTS TAXES › Part 112 - EXEMPTION - GROSS RECEIPTS TAX - INSURANCE COMPANIES › Section 3.2.112.10 - UNRELATED BUSINESSES

Current through Register Vol. 35, No. 13, July 16, 2024
A.
				The receipts of an insurance company or any agent thereof from the operation of
				a business or trade other than the insurance business in New Mexico are subject
				to the gross receipts tax.
B. Such
				receipts are not exempted from the gross receipts tax pursuant to Section
				7-9-24
				NMSA 1978 because they are not receipts derived from premiums.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 2 - GROSS RECEIPTS TAXES › Part 113 - EXEMPTION - GROSS RECEIPTS TAX - DIVIDENDS AND INTEREST › Section 3.2.113.1 - 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 113 - EXEMPTION - GROSS RECEIPTS TAX - DIVIDENDS AND INTEREST › Section 3.2.113.2 - SCOPE

Current through Register Vol. 35, No. 13, July 16, 2024
This part applies to each person engaging in business in New
				  Mexico and each person receiving interest or dividends.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 2 - GROSS RECEIPTS TAXES › Part 113 - EXEMPTION - GROSS RECEIPTS TAX - DIVIDENDS AND INTEREST › Section 3.2.113.3 - 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 113 - EXEMPTION - GROSS RECEIPTS TAX - DIVIDENDS AND INTEREST › Section 3.2.113.5 - EFFECTIVE DATE

Current through Register Vol. 35, No. 13, July 16, 2024
11/15/96, 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 113 - EXEMPTION - GROSS RECEIPTS TAX - DIVIDENDS AND INTEREST › Section 3.2.113.6 - 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 113 - EXEMPTION - GROSS RECEIPTS TAX - DIVIDENDS AND INTEREST › Section 3.2.113.8 - STOCKBROKER'S COMMISSIONS

Current through Register Vol. 35, No. 13, July 16, 2024
Commissions received by stockbrokers, located in New Mexico,
				  are not receipts from the sale of stocks, bonds or securities. The commissions
				  are receipts from the performance of a service in New Mexico and are subject to
				  the gross receipts tax.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 2 - GROSS RECEIPTS TAXES › Part 113 - EXEMPTION - GROSS RECEIPTS TAX - DIVIDENDS AND INTEREST › Section 3.2.113.9 - PAWNBROKERS

Current through Register Vol. 35, No. 13, July 16, 2024
Receipts of a person from engaging in pawn transactions, as
				  that term is defined in Section
				  56-12-2
				  NMSA 1978, which are received as interest upon money loaned are exempt from the
				  gross receipts tax pursuant to Section
				  7-9-25
				  NMSA 1978.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 2 - GROSS RECEIPTS TAXES › Part 114 - EXEMPTION - GROSS RECEIPTS AND COMPENSATING TAX - FUEL › Section 3.2.114.1 - 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 114 - EXEMPTION - GROSS RECEIPTS AND COMPENSATING TAX - FUEL › Section 3.2.114.2 - SCOPE

Current through Register Vol. 35, No. 13, July 16, 2024
This part applies to all persons engaging in business in New
				  Mexico and selling or using gasoline, special fuel or alternative
				  fuel.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 2 - GROSS RECEIPTS TAXES › Part 114 - EXEMPTION - GROSS RECEIPTS AND COMPENSATING TAX - FUEL › Section 3.2.114.3 - 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 114 - EXEMPTION - GROSS RECEIPTS AND COMPENSATING TAX - FUEL › Section 3.2.114.5 - EFFECTIVE DATE

Current through Register Vol. 35, No. 13, July 16, 2024
11/15/96, 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 114 - EXEMPTION - GROSS RECEIPTS AND COMPENSATING TAX - FUEL › Section 3.2.114.6 - 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 114 - EXEMPTION - GROSS RECEIPTS AND COMPENSATING TAX - FUEL › Section 3.2.114.8 - REFUND OF TAX

Current through Register Vol. 35, No. 13, July 16, 2024
When a refund of tax imposed by Sections
				  7-13-3
				  and
				  7-16A-3
				  NMSA 1978 is given the purchaser under Sections
				  7-13-17
				  or
				  7-16A-13.1
				  NMSA 1978, the compensating tax will be deducted from such refund and no gross
				  receipts tax will be charged at the time of sale of the product. The reasonable
				  value of gasoline or special fuel for compensating tax purposes will be the
				  price paid for the fuel, including any applicable excise taxes whether
				  separately stated or included in the price. This version of 3.2.114.8 NMAC
				  applies to transactions on or after July 1, 1998.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 2 - GROSS RECEIPTS TAXES › Part 114 - EXEMPTION - GROSS RECEIPTS AND COMPENSATING TAX - FUEL › Section 3.2.114.9 - TURBO PROP AND JET FUEL

Current through Register Vol. 35, No. 13, July 16, 2024
A.
				Receipts from the sale of fuel, specially prepared and sold for use in turbo
				prop or jet type engines, are subject to the gross receipts tax.
B. These receipts are not exempt under
				Section
				7-9-26
				NMSA 1978 because products specially prepared and sold for use in turbo prop or
				jet type engines are not taxed under Section
				7-13-3
				NMSA 1978 or Section
				7-16A-3
				NMSA 1978, because of the definition of gasoline in Section
				7-13-2 NMSA 1978 and
				special fuel in Section
				7-16A-2 NMSA
				1978.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 2 - GROSS RECEIPTS TAXES › Part 114 - EXEMPTION - GROSS RECEIPTS AND COMPENSATING TAX - FUEL › Section 3.2.114.10 - TRANSFER OF FUEL INCIDENTAL TO A SALE OR LEASE

Current through Register Vol. 35, No. 13, July 16, 2024
A. The provisions of Section
				7-9-26
				NMSA 1978 do not apply when the transfer or sale of the fuel is incidental to
				the sale or lease of a vehicle.
B.
				Example: X Company leases a truck to Y Company in New Mexico. X furnishes all
				parts and labor required to maintain and repair the leased vehicle and provides
				tires, oil and gasoline needed during the lease term. Y pays X a fixed
				predetermined rental charge for the truck along with the above items. The lease
				contract requires X to furnish the truck filled with gasoline at the beginning
				of the lease term and to continue to furnish gasoline during the lease term. X
				furnishes gasoline to Y only in conjunction with the rental of the truck. Z
				Company sells to X all the gasoline X requires for the truck it leased to Y.
				X's total receipts from leasing the truck to Y are subject to the gross
				receipts tax. No part of X's receipts are exempt from the gross receipts tax,
				because X's receipts are not receipts from "selling and the use of gasoline".
				Z's receipts from selling gasoline to X are exempt from the gross receipts tax
				if the tax imposed by Section
				7-13-3
				NMSA 1978 or Section
				7-16A-3
				NMSA 1978 has been paid on that gasoline and not refunded.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 2 - GROSS RECEIPTS TAXES › Part 115 - EXEMPTION - COMPENSATING TAX - PERSONAL EFFECTS › Section 3.2.115.1 - 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 115 - EXEMPTION - COMPENSATING TAX - PERSONAL EFFECTS › Section 3.2.115.3 - 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 115 - EXEMPTION - COMPENSATING TAX - PERSONAL EFFECTS › Section 3.2.115.5 - EFFECTIVE DATE

Current through Register Vol. 35, No. 13, July 16, 2024
11/15/96, 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 115 - EXEMPTION - COMPENSATING TAX - PERSONAL EFFECTS › Section 3.2.115.6 - 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 115 - EXEMPTION - COMPENSATING TAX - PERSONAL EFFECTS › Section 3.2.115.8 - BUSINESS USE OF PROPERTY

Current through Register Vol. 35, No. 13, July 16, 2024
A.
				The provisions of Section
				7-9-27
				NMSA 1978 do not apply to property used in connection with the engaging in
				business in New Mexico. The use of property for business purposes in New Mexico
				is not exempt from the imposition of the compensating tax.
B. The following examples illustrate the
				application of Section
				7-9-27
				NMSA 1978.
(1) Example 1: A, a Colorado
				corporation, drills oil wells on contract. A moves a rig out of Colorado into
				New Mexico and sets it up at the well site. A maintains that no compensating
				tax is due on the value of the rig since A will only be in the state until the
				one contract is completed. A must report compensating tax measured by the value
				of the rig. The rig has been brought into New Mexico for business use. If A had
				leased the rig from a lessor in Colorado, and a substantial portion of the
				lessor's receipts were derived from leasing, no compensating tax would be
				imposed on A. However, the receipts of the lessor would be subject to the gross
				receipts tax.
(2) Example 2: X, a
				nonresident, obtains a nonresident hunting license for New Mexico. X brings
				guns and camping gear to New Mexico for the hunt. The use of this equipment is
				exempt from the compensating tax.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 2 - GROSS RECEIPTS TAXES › Part 116 - EXEMPTION - GROSS RECEIPTS TAX - OCCASIONAL SALE OF PROPERTY OR SERVICES › Section 3.2.116.1 - 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 116 - EXEMPTION - GROSS RECEIPTS TAX - OCCASIONAL SALE OF PROPERTY OR SERVICES › Section 3.2.116.2 - SCOPE

Current through Register Vol. 35, No. 13, July 16, 2024
This part applies to each person occasionally selling or
				  leasing property or performing service but who is not regularly engaged in
				  business of selling or leasing that type of property or performing that type of
				  service.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 2 - GROSS RECEIPTS TAXES › Part 116 - EXEMPTION - GROSS RECEIPTS TAX - OCCASIONAL SALE OF PROPERTY OR SERVICES › Section 3.2.116.3 - 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 116 - EXEMPTION - GROSS RECEIPTS TAX - OCCASIONAL SALE OF PROPERTY OR SERVICES › Section 3.2.116.5 - EFFECTIVE DATE

Current through Register Vol. 35, No. 13, July 16, 2024
11/15/96, 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 116 - EXEMPTION - GROSS RECEIPTS TAX - OCCASIONAL SALE OF PROPERTY OR SERVICES › Section 3.2.116.6 - 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 116 - EXEMPTION - GROSS RECEIPTS TAX - OCCASIONAL SALE OF PROPERTY OR SERVICES › Section 3.2.116.8 - CRITERIA USED IN DETERMINING ISOLATED OR OCCASIONAL SALES

Current through Register Vol. 35, No. 13, July 16, 2024
The department will use the following criteria, but not
				  exclusively, in determining whether or not a transaction involves only an
				  "isolated or occasional" sale or lease:
A. the nature of the service or
				property;
B. the nature of the
				market for the service or property sold or leased;
C. the number of sales or leases made within
				a given period;
D. the regularity
				of the sales;
E. the duration of
				the sales or leasing activity;
F.
				any promotional activity such as advertising or telephone yellow page listings;
				and
G. any holding out as being in
				business by the seller or lessor.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 2 - GROSS RECEIPTS TAXES › Part 116 - EXEMPTION - GROSS RECEIPTS TAX - OCCASIONAL SALE OF PROPERTY OR SERVICES › Section 3.2.116.10 - PERSONS HAVING THREE OR FEWER RENTAL UNITS

Current through Register Vol. 35, No. 13, July 16, 2024
Any person who rents or leases three or fewer rental units of
				  real property is not regularly engaged in the business of leasing real property
				  for the purposes of Sections
				  7-9-28
				  and
				  7-9-53
				  NMSA 1978. Such a person need not register with the taxation and revenue
				  department for gross receipts tax purposes nor report the receipts if there are
				  no other receipts, but the person may be required to register to report another
				  tax.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 2 - GROSS RECEIPTS TAXES › Part 116 - EXEMPTION - GROSS RECEIPTS TAX - OCCASIONAL SALE OF PROPERTY OR SERVICES › Section 3.2.116.11 - SALE OR LEASING THE SAME OR SIMILAR PROPERTY

Current through Register Vol. 35, No. 13, July 16, 2024
A. Receipts from an isolated or occasional
				sale are exempt pursuant to Section
				7-9-28
				NMSA 1978 only when the seller of the property is not engaged in the business
				of selling or leasing the same or similar property.
B. Example: T is regularly engaged in the
				business of leasing construction and paving equipment to third parties. T
				contemplates terminating its leasing business and plans on having all equipment
				sold at public auction by a third party. Since T is regularly engaged in the
				business of leasing property which is the same as or similar to the property to
				be sold, the receipts from the sale are not exempt pursuant to Section
				7-9-28
				NMSA 1978 as isolated or occasional.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 2 - GROSS RECEIPTS TAXES › Part 116 - EXEMPTION - GROSS RECEIPTS TAX - OCCASIONAL SALE OF PROPERTY OR SERVICES › Section 3.2.116.12 - EXECUTORS' AND ADMINISTRATORS' FEES

Current through Register Vol. 35, No. 13, July 16, 2024
A. The receipts of any person appointed as
				administrator or executor of an estate are subject to the gross receipts tax
				and are not exempt from the gross receipts tax pursuant to Section
				7-9-28
				NMSA 1978. The duration of the person's activity in performing the service,
				usually a minimum of eight (8) months, indicates that the person is regularly
				engaged in the business of selling services as an executor or
				administrator.
B. Where an
				administrator or executor effectively waives the right to receive statutory
				fees or commissions within a reasonable time after commencing to serve as the
				executor and all other actions by that person with respect to the estate are
				consistent with the intention to render a gratuitous service, the administrator
				or executor is not subject to the gross receipts tax on the value of the
				services rendered.
C. Example: E,
				an individual appointed executor of an estate by a court order, performs the
				duties of executor for a period of approximately eight (8) months. E is not
				otherwise engaged in the business of performing services as an executor or
				fiduciary and is not an attorney or certified public accountant or anyone who
				customarily receives fees for the performance of professional services. E is
				not an employee of a bank, trust department, or financial institution. Receipts
				of E are subject to the gross receipts tax because the duration of E's activity
				in performing the service indicates that E is regularly in the business of
				selling services as an executor.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 2 - GROSS RECEIPTS TAXES › Part 116 - EXEMPTION - GROSS RECEIPTS TAX - OCCASIONAL SALE OF PROPERTY OR SERVICES › Section 3.2.116.13 - TRUSTEE FEES

Current through Register Vol. 35, No. 13, July 16, 2024
A.
				The receipts of a person appointed as trustee, who is not an employee of the
				trust, court or other appointing authority, are not exempt from gross receipts
				tax under the provisions of Section
				7-9-28
				NMSA 1978 if the appointment exceeds a term of more than 30 days.
B. Example: Q, an individual appointed
				trustee by a court order, performs the duties of a trustee for a period of
				approximately eighteen (18) months at a specified monthly rate of compensation.
				Q is not otherwise engaged in the business of performing as a fiduciary, is not
				an attorney or a certified public accountant or anyone who customarily receives
				fees for the performance of personal services. Q is not an employee of a bank,
				trust department or other financial institution. Receipts of Q are subject to
				the gross receipts tax because the duration of Q's activity in performing the
				service indicates that Q is regularly engaged in the business of selling
				services as trustee.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 2 - GROSS RECEIPTS TAXES › Part 116 - EXEMPTION - GROSS RECEIPTS TAX - OCCASIONAL SALE OF PROPERTY OR SERVICES › Section 3.2.116.14 - SAFE HARBOR LEASE - SELLER/LESSEE

Current through Register Vol. 35, No. 13, July 16, 2024
A seller/lessee who enters into a qualified "safe harbor
				  lease" transaction as defined in Section 168 of the Internal Revenue Code and
				  who is not in the business of selling or leasing the same type of property
				  being sold under the "safe harbor lease" will not be subject to the gross
				  receipts tax on the sale and subsequent receipts derived from such transaction
				  since those receipts are exempt under Section
				  7-9-28
				  NMSA 1978. A seller/lessee may not issue a nontaxable transaction certificate
				  to purchase the property from a vendor.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 2 - GROSS RECEIPTS TAXES › Part 117 - EXEMPTION - GROSS RECEIPTS TAX - CERTAIN ORGANIZATIONS › Section 3.2.117.1 - 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 117 - EXEMPTION - GROSS RECEIPTS TAX - CERTAIN ORGANIZATIONS › Section 3.2.117.2 - SCOPE

Current through Register Vol. 35, No. 13, July 16, 2024
This part applies to each person engaging in business in New
				  Mexico and to 501c(3) and certain 501c(6) organizations.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 2 - GROSS RECEIPTS TAXES › Part 117 - EXEMPTION - GROSS RECEIPTS TAX - CERTAIN ORGANIZATIONS › Section 3.2.117.3 - 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 117 - EXEMPTION - GROSS RECEIPTS TAX - CERTAIN ORGANIZATIONS › Section 3.2.117.5 - EFFECTIVE DATE

Current through Register Vol. 35, No. 13, July 16, 2024
11/15/96, 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 117 - EXEMPTION - GROSS RECEIPTS TAX - CERTAIN ORGANIZATIONS › Section 3.2.117.6 - 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 117 - EXEMPTION - GROSS RECEIPTS TAX - CERTAIN ORGANIZATIONS › Section 3.2.117.8 - RECEIPTS OF 501(c)(3) ORGANIZATIONS AFTER JULY 1, 1970

Current through Register Vol. 35, No. 13, July 16, 2024
Receipts of organizations which demonstrate to the department
				  that they have been granted an exemption from federal income tax as an
				  organization described in Section 501(c)(3) of the Internal Revenue Code of
				  1986, Section 501(c)(3) of the U.S. Internal Revenue Code of 1954 or Section
				  101(6) of the U.S. Internal Revenue Code of 1939 are exempt from the gross
				  receipts tax regardless of their source, unless the receipts are derived from
				  an unrelated trade or business as defined in Section 513 of the Internal
				  Revenue Code of 1986, Section 513 of the United States Internal Revenue Code of
				  1954 or Section 422(b) of the United States Internal Revenue Code of
				  1939.
New Mexico Administrative Code › Title 3 - TAXATION › Chapter 2 - GROSS RECEIPTS TAXES › Part 117 - EXEMPTION - GROSS RECEIPTS TAX - CERTAIN ORGANIZATIONS › Section 3.2.117.9 - RECEIPTS OF 501(c)(6) ORGANIZATIONS AFTER JULY 1, 1988 - GENERAL RULES

Current through Register Vol. 35, No. 13, July 16, 2024
A. For the purposes
				of the exemption provided by Subsection B of Section
				7-9-29
				NMSA 1978, a chamber of commerce, visitor bureau or convention bureau function
				is an activity commonly, usually or typically carried on by such an
				organization. Receipts of a 501(c)(6) organization from activities which are
				never, rarely or atypically carried on by chambers of commerce, visitor bureaus
				or convention bureaus are not exempt from gross receipts tax under Subsection B
				of Section
				7-9-29
				NMSA 1978, regardless of whether those receipts are exempt from federal income
				tax.
B. It is not necessary for the
				words "chamber of commerce", "visitor bureau" or "convention bureau" to appear
				in the name of the 501(c)(6) organization for the exemption to apply.
C. Section 3.2.117.9 NMAC is applicable to
				transactions occurring on or after July 1, 1988.