us-nm/stat
NMSA 1978, § 7-9-103.2 — Deduction; gross receipts; electricity exchange
A.
Receipts from operating a market or exchange for the sale or trading of
electricity, rights to electricity and derivative products and from providing ancillary
services 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. The deduction
shall be included in the tax expenditure budget pursuant to Section 7-1-84 NMSA 1978,
including the annual aggregate cost of the deduction.
C.
Claiming a deduction provided by this section is authorization by the taxpayer
receiving the deduction for the department to reveal return information necessary to
comply with the requirements of Section 7-1-84 NMSA 1978.
D.
As used in this section, "ancillary services" means services that are supplied
from or in connection with facilities employing voltage source conversion technology
and that are used to support or enhance the efficient and reliable operation of the
electric system.
Source: official text