New Mexico Statutes
§ 7-9-48 — Deduction; gross receipts tax; governmental gross receipts;
sale of a service for resale. Receipts from selling a service for resale may be deducted from gross receipts or from governmental gross receipts if the sale is made to a person who delivers a nontaxable transaction certificate to the seller or provides alternative evidence pursuant to Section 7-9-43 NMSA 1978. The buyer must resell the service in the ordinary course of business and the resale must be subject to the gross receipts tax or governmental gross receipts tax.
Free access — add to your briefcase to read the full text and ask questions with AI
New Mexico § 7-9-48 (Deduction; gross receipts tax; governmental gross receipts;) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
1953 Comp., § 72-16A-14.3, enacted by Laws 1969, ch. 144, § 38; 1992, ch.
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Repealed§ 7-1-13.3
Repealed§ 7-1-13.4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; reversals