New Mexico Statutes
§ 7-9-45 — Deductions
New Mexico § 7-9-45
This text of New Mexico § 7-9-45 (Deductions) 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. § 7-9-45 (2026).
Text
A.Receipts may only be deducted once from gross receipts or governmental gross receipts when computing the gross receipts tax or governmental gross receipts tax due.
B.The same receipts shall not be both exempt from the gross receipts tax and deducted from gross receipts.
C.The same receipts shall not be both exempt from the governmental gross receipts tax and deducted from governmental gross receipts.
Free access — add to your briefcase to read the full text and ask questions with AI
Legislative History
1978 Comp., § 7-9-45, enacted by Laws 1969, ch. 144, § 35; 1970, ch. 77, § 1;
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Repealed§ 7-1-13.3
Repealed§ 7-1-13.4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 § 7-9-45, Counsel Stack Legal Research, https://law.counselstack.com/statute/nm/7/7-9-45.