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New Mexico Statutes Chapter 7. Taxation § 7-9-52. Deduction; gross receipts tax; sale of construction services and construction-related services to persons engaged in the construction business

Current as of May 06, 2021 | Updated by FindLaw Staff

A. Receipts from selling a construction service or a construction-related service may be deducted from gross receipts if the sale is made to a person engaged in the construction business who delivers a nontaxable transaction certificate to the person performing the construction service or a construction-related service or provides alternative evidence pursuant to Section 7-9-43 NMSA 1978.

B. The buyer shall have the construction services or construction-related services directly contracted for or billed to:

(1) a construction project that is subject to the gross receipts tax upon its completion or upon the completion of the overall construction project of which it is a part;

(2) a construction project that is subject to the gross receipts tax upon the sale in the ordinary course of business of the real property upon which it was constructed; or

(3) a construction project that is located on the tribal territory of an Indian nation, tribe or pueblo.

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Cite this article: FindLaw.com - New Mexico Statutes Chapter 7. Taxation § 7-9-52. Deduction; gross receipts tax; sale of construction services and construction-related services to persons engaged in the construction business - last updated May 06, 2021 | https://codes.findlaw.com/nm/chapter-7-taxation/nm-st-sect-7-9-52/

Read this complete New Mexico Statutes Chapter 7. Taxation § 7-9-52. Deduction; gross receipts tax; sale of construction services and construction-related services to persons engaged in the construction business on Westlaw

FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.

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