New Mexico Statutes
§ 7-9-67 — Deduction; gross receipts tax; governmental gross receipts
tax; refunds; uncollectible debts.
A.Refunds and allowances made to buyers or amounts written off the books as an uncollectible debt by a person reporting gross receipts tax on an accrual basis may be deducted from gross receipts. If debts reported uncollectible are subsequently collected, such receipts shall be included in gross receipts in the month of collection.
B.Refunds and allowances made to buyers or amounts written off the books as an uncollectible debt by a person reporting governmental gross receipts tax on an accrual basis may be deducted from governmental gross receipts. If debts reported uncollectible are subsequently collected, such receipts shall be included in governmental gross receipts in the month of collection.
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New Mexico § 7-9-67 (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-14.23, enacted by Laws 1969, ch. 144, § 58; 1994, 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Repealed§ 7-1-13.3
Repealed§ 7-1-13.4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