New Mexico Statutes
§ 7-9-120 — Deduction; gross receipts and governmental gross
New Mexico § 7-9-120
This text of New Mexico § 7-9-120 (Deduction; gross receipts and governmental gross) is published on Counsel Stack Legal Research, covering New Mexico primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
Bluebook
N.M. Stat. Ann. § 7-9-120 (2026).
Text
receipts; feminine hygiene products.
A.Receipts from the sale of feminine hygiene products may be deducted from gross receipts and governmental gross receipts.
B.A taxpayer allowed a deduction pursuant to this section shall report the amount of the deduction separately in a manner required by the department.
C.The department shall compile an annual report on the deduction provided by this section that shall include the number of taxpayers that claimed the deduction, the aggregate amount of deductions claimed and any other information necessary to evaluate the effectiveness of the deduction. The department shall present the report to the revenue stabilization and tax policy committee and the legislative finance committee with an analysis of the cost of the deduction.
D.As used in this s
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Legislative History
Laws 2022, ch. 47, § 15.
Nearby Sections
15
§ 7-1-1
Short title§ 7-1-11.1
Managed audits§ 7-1-11.2
Required audit notices§ 7-1-12
Identification of taxpayers§ 7-1-13.1
Method of payment of certain taxes due§ 7-1-13.2
Repealed§ 7-1-13.3
Repealed§ 7-1-13.4
Electronic payments; reversalsCite This Page — Counsel Stack
Bluebook (online)
New Mexico § 7-9-120, Counsel Stack Legal Research, https://law.counselstack.com/statute/nm/7/7-9-120.