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NMSA 1978 Chapter 7 — Taxation

NMSA 1978, § 7-9-51

7-9-51

Official textnmonesource.comlast amended

Deduction; gross receipts tax; sale of construction material to persons engaged in the construction business.

# A.

Receipts from selling construction material may be deducted from gross receipts if the sale is made to a person engaged in the construction business who delivers a nontaxable transaction certificate to the seller or provides alternative evidence pursuant to Section 7-9-43 NMSA 1978.

# B.

The buyer must incorporate the construction material as:

# (1)

an ingredient or component part of a construction project that is subject to the gross receipts tax upon its completion or upon the completion of the overall construction project of which it is a part;

# (2)

an ingredient or component part of a construction project that is subject to the gross receipts tax upon the sale in the ordinary course of business of the real property upon which it was constructed; or

# (3)

an ingredient or component part of a construction project that is located on the tribal territory of an Indian nation, tribe or pueblo.

Amendment history

1953 Comp., § 72-16A-14.6, enacted by Laws 1969, ch. 144, § 41; 2000, ch. 84, § 3; 2000, ch. 98, § 1; 2001, ch. 343, § 4; 2021, ch. 65, § 18.

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

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In this article (40 sections)
  1. 7-9-39 · 7-9-39
  2. 7-9-40 · 7-9-40
  3. 7-9-41 · Exemption; gross receipts tax; religious activities
  4. 7-9-41.1 · 7-9-41.1
  5. 7-9-41.2 · Deleted
  6. 7-9-41.3 · 7-9-41.3
  7. 7-9-41.4 · 7-9-41.4
  8. 7-9-41.5 · 7-9-41.5
  9. 7-9-41.6 · 7-9-41.6
  10. 7-9-42 · Repealed
  11. 7-9-43 · 7-9-43
  12. 7-9-43.1 · 7-9-43.1
  13. 7-9-44 · Repealed
  14. 7-9-45 · Deductions
  15. 7-9-46 · 7-9-46
  16. 7-9-46.1 · 7-9-46.1
  17. 7-9-47 · 7-9-47
  18. 7-9-48 · 7-9-48
  19. 7-9-49 · 7-9-49
  20. 7-9-50 · Deduction; gross receipts tax; lease for subsequent lease
  21. 7-9-51 · 7-9-51
  22. 7-9-51.1 · Repealed
  23. 7-9-51.2 · 7-9-51.2
  24. 7-9-52 · 7-9-52
  25. 7-9-52.1 · 7-9-52.1
  26. 7-9-53 · 7-9-53
  27. 7-9-54 · 7-9-54
  28. 7-9-54.1 · 7-9-54.1
  29. 7-9-54.2 · 7-9-54.2
  30. 7-9-54.3 · 7-9-54.3
  31. 7-9-54.4 · Deduction; compensating tax; space-related test articles
  32. 7-9-54.5 · Deduction; compensating tax; test articles
  33. 7-9-55 · 7-9-55
  34. 7-9-56 · 7-9-56
  35. 7-9-56.1 · Deduction; gross receipts tax; internet services
  36. 7-9-56.2 · 7-9-56.2
  37. 7-9-56.3 · 7-9-56.3
  38. 7-9-57 · 7-9-57
  39. 7-9-57.1 · Repealed
  40. 7-9-57.2 · 7-9-57.2
Full table of contents →