NMSA 1978, § 7-9-47 — 7-9-47

Deduction; gross receipts tax; governmental gross receipts
tax; sale of tangible personal property or licenses for resale.
Receipts from selling tangible personal property or licenses may be deducted from
gross receipts or from governmental gross receipts if the sale is made to a person who
delivers a nontaxable transaction certificate to the seller or provides alternative
evidence pursuant to Section 7-9-43 NMSA 1978. The buyer must resell the tangible
personal property or license either by itself or in combination with other tangible
personal property or licenses in the ordinary course of business.