NMSA 1978, § 7-9-62.1 — 7-9-62.1

Deduction; gross receipts tax; aircraft sales and services;
reporting requirements.

# A.

Receipts from the sale of or from maintaining, refurbishing, remodeling or
otherwise modifying a commercial or military carrier over ten thousand pounds gross
landing weight may be deducted from gross receipts.

# B.

A taxpayer allowed a deduction pursuant to this section shall report the amount
of the deduction separately in a manner required by the department.

# C.

The deduction provided by this section shall be included in the tax expenditure
budget pursuant to Section 7-1-84 NMSA 1978 with an analysis of the effectiveness and
cost of the deduction.