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NMSA 1978 Chapter 7 — Taxation

NMSA 1978, § 7-9-47

7-9-47

Official textnmonesource.comlast amended

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.

Amendment history

1953 Comp., § 72-16A-14.2, enacted by Laws 1969, ch. 144, § 37; 1992, ch. 39, § 6; 1992, ch. 100, § 5; 1994, ch. 45, § 4; 2021, ch. 65, § 14.

Source: official source (NMSA chapter on nmonesource.com)

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In this article (40 sections)
  1. 7-9-37 · 7-9-37
  2. 7-9-38 · 7-9-38
  3. 7-9-38.1 · 7-9-38.1
  4. 7-9-38.2 · 7-9-38.2
  5. 7-9-39 · 7-9-39
  6. 7-9-40 · 7-9-40
  7. 7-9-41 · Exemption; gross receipts tax; religious activities
  8. 7-9-41.1 · 7-9-41.1
  9. 7-9-41.2 · Deleted
  10. 7-9-41.3 · 7-9-41.3
  11. 7-9-41.4 · 7-9-41.4
  12. 7-9-41.5 · 7-9-41.5
  13. 7-9-41.6 · 7-9-41.6
  14. 7-9-42 · Repealed
  15. 7-9-43 · 7-9-43
  16. 7-9-43.1 · 7-9-43.1
  17. 7-9-44 · Repealed
  18. 7-9-45 · Deductions
  19. 7-9-46 · 7-9-46
  20. 7-9-46.1 · 7-9-46.1
  21. 7-9-47 · 7-9-47
  22. 7-9-48 · 7-9-48
  23. 7-9-49 · 7-9-49
  24. 7-9-50 · Deduction; gross receipts tax; lease for subsequent lease
  25. 7-9-51 · 7-9-51
  26. 7-9-51.1 · Repealed
  27. 7-9-51.2 · 7-9-51.2
  28. 7-9-52 · 7-9-52
  29. 7-9-52.1 · 7-9-52.1
  30. 7-9-53 · 7-9-53
  31. 7-9-54 · 7-9-54
  32. 7-9-54.1 · 7-9-54.1
  33. 7-9-54.2 · 7-9-54.2
  34. 7-9-54.3 · 7-9-54.3
  35. 7-9-54.4 · Deduction; compensating tax; space-related test articles
  36. 7-9-54.5 · Deduction; compensating tax; test articles
  37. 7-9-55 · 7-9-55
  38. 7-9-56 · 7-9-56
  39. 7-9-56.1 · Deduction; gross receipts tax; internet services
  40. 7-9-56.2 · 7-9-56.2
Full table of contents →