NMSA 1978, § 7-9-20 — 7-9-20

Exemption; gross receipts tax; certain receipts of
homeowners associations.
Exempted from the gross receipts tax are those receipts of homeowners
associations defined in Section 528(c)(1) (A thru D), (2), (3) and (4) (A, B and D) of the
Internal Revenue Code, as amended, which are received as membership fees, dues or
assessments from members who are owners of residential units, residences or
residential lots except for owners of time-share interests, for payment of taxes,
insurance, utility expenses, management and improvement, maintenance or
rehabilitation of those common areas, elements or facilities appurtenant thereto which
are for the sole use of the owners and their guests.