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New Mexico Statutes Chapter 7. Taxation § 7-9-13. Exemption; gross receipts tax; governmental agencies

Current as of January 01, 2024 | Updated by Findlaw Staff

A. Except as otherwise provided in this section, exempted from the gross receipts tax are receipts of:

(1) the United States or any agency, department or instrumentality thereof;

(2) the state of New Mexico or any political subdivision thereof;

(3) any Indian nation, tribe or pueblo from activities or transactions occurring on its sovereign territory; or

(4) any foreign nation or agency, instrumentality or political subdivision thereof, but only when required by a treaty in force to which the United States is a party.

B. Receipts from the sale of gas or electricity by a utility owned or operated by a county, municipality or other political subdivision of a state are not exempted from the gross receipts tax.

C. Receipts from the operation of a cable television system owned or operated by a municipality are not exempted from the gross receipts tax.

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Cite this article: FindLaw.com - New Mexico Statutes Chapter 7. Taxation § 7-9-13. Exemption; gross receipts tax; governmental agencies - last updated January 01, 2024 | https://codes.findlaw.com/nm/chapter-7-taxation/nm-st-sect-7-9-13/

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