NMSA 1978, § 7-9-108 — 7-9-108

Deduction; gross receipts; receipts from performing
management or investment advisory services for mutual funds,
hedge funds or real estate investment trusts.

# A.

Receipts from fees received for performing management or investment advisory
services for a mutual fund, hedge fund or real estate investment trust may be deducted
from gross receipts.

# B.

As used in this section:
(1) "hedge fund" means a private investment fund or pool, the assets of which
are managed by a professional management firm, that:
(a) trades or invests, through public market or private transactions, in
securities, commodities, currency, derivatives or similar classes of financial assets; or
(b) is not an investment company pursuant to the provisions of 15 U.S.C. 80a-
3(c)(1) or 15 U.S.C. 80a-3(c)(7);
(2) "mutual fund" means an entity registered pursuant to the federal
Investment Company Act of 1940, as amended; and
(3) "real estate investment trust" means an entity described in Section 856(a)
of the Internal Revenue Code of 1986, as amended, the investments of which are
limited to interests in mortgages on real property and shares of or transferable
certificates of beneficial interest in an entity described in Section 856(a) of the Internal
Revenue Code of 1986, as amended.