New Mexico § 7-9-62.1 Deduction; gross receipts tax; aircraft sales and services;

New Mexico Statutes

§ 7-9-62.1 — Deduction; gross receipts tax; aircraft sales and services;

New Mexico § 7-9-62.1

Ch. 7Taxation

Art. 9Gross Receipts and Compensating Tax

This text of New Mexico § 7-9-62.1 (Deduction; gross receipts tax; aircraft sales and services;) 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. § 7-9-62.1 (2026).

Text

reporting requirements.

A.Receipts from the sale of or from maintaining, refurbishing, remodeling or otherwise modifying a commercial or military carrier over ten thousand pounds gross landing weight may be deducted from 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 deduction provided by this section shall be included in the tax expenditure budget pursuant to Section 7-1-84 NMSA 1978 with an analysis of the effectiveness and cost of the deduction.

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reporting requirements. A. Receipts from the sale of or from maintaining, refurbishing, remodeling or otherwise modifying a commercial or military carrier over ten thousand pounds gross landing weight may be deducted from 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 deduction provided by this section shall be included in the tax expenditure budget pursuant to Section 7-1-84 NMSA 1978 with an analysis of the effectiveness and cost of the deduction.