New Mexico Statutes
§ 7-9C-8 — Deductions; telecommunications providers
A. Receipts from interstate telecommunications services that are provided by a corporation to itself or to an affiliated corporation may be deducted from interstate telecommunications gross receipts. B. For the purposes of this section:
(1)"affiliated corporation" means a corporation that directly or indirectly through one or more intermediaries controls, is controlled by or is under common control with the subject corporation; and (2) "control" means ownership of stock in a corporation that represents at least eighty percent of the total voting power of the corporation and has a value equal to at least eighty percent of the total value of the stock of that corporation.
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Legislative History
Laws 1992, ch. 50, § 8 and Laws 1992, ch. 67, § 8; 1993, ch. 30, § 18.
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Repealed§ 7-1-13.3
Repealed§ 7-1-13.4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